IBA join World Athletics in offering more than Ksh 23 million in prize money at Paris 2024 Olympics

IBA join World Athletics in offering more than Ksh 23 million in prize money at Paris 2024 Olympics

Abigael Wafula 15:00 - 29.05.2024

The International Boxing Federation has joined World Athletics in offering prize money for top boxers and their managements at the Paris 2024 Olympic Games.

The International Boxing Federation will join World Athletics to offer prize money to the top finishers at the Paris 2024 Olympic Games.

All the Olympic champions and medallists of the Olympic Games will be awarded prize money with the main motivation to support the athletes, coaches, and National Federations. It will also serve as a reminder on IBA’s commitment to delivering the best support for its athletes, based on their hard work and dedication to the sport of boxing.

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IBA president Umar Kremlev announced that the Olympic gold medallists are eligible to fight for the champions’ titles at IBA Champions’ Night events.

“The Olympics will serve as a qualifying round for boxers who will earn the right to compete for the IBA World Champion title, with a prize fund of over $13,000,000 for 13 main weight categories, of which 7 are men’s and 6 are women’s categories.

“We support all our athletes participating in the 2024 Olympics, and on behalf of the entire international boxing community, I am extremely proud to announce that all Paris gold medallists in the boxing tournament will receive a substantial financial reward of $100,000.

“Out of this amount, the athlete will receive $50,000, their National Federation will receive $25,000, and their coach will receive $25,000. For a silver medal, $50,000 prize money will be awarded, with the athlete receiving $25,000, and the remaining $25,000 being distributed evenly between the coach and the National Federation.

“For a bronze medal, we will provide $25,000, of which $12,500 will go to the athlete, and $12,500 will again be distributed evenly. Additionally, athletes who lost in the quarterfinals and finished 5th, will each receive $10,000 from IBA, making the total prize money fund commitment equalling more than $3.1 million USD distributed to over 100 boxers,” the president stated as per the IBA website.

He insisted that the athletes and their efforts must be appreciated and noted that IBA will offer opportunities and invests considerably to the boxers since they are a focal point, and as a federation, they will continue to support them at all levels.

“We pride ourselves on being among the pioneers in rewarding the athletes for their Olympic successes. As IBA President, I will always fight for our athletes’ well-being, and this step is consistent in terms of the existing commitments we have already taken.

“I am looking forward to this opportunity to honour the new champions, medallists, and quarter-finalists from Paris 2024,” he added.

Meanwhile, adding to the same, Chris Roberts OBE, IBA Secretary General and CEO, said that the decision is taken to support the boxers with action and not ust words.

“We are setting a clear example for many on how International Federations should be treating their champions. This is real support with real actions, a thing that has become rare in the international sports environment.

“We are happy to be the lead sport to have this opportunity to support our boxers and reward them for their hard work and dedication,” Roberts said.