IBA to offer prize money to all boxing medallists at Paris Games

The International Boxing Association (IBA) will offer prize money to all those who become Olympic champions and medallists at this year's Paris Games, the body announced on Wednesday.

The body is not organising the boxing tournament at the Paris Olympics after it was stripped of recognition by the International Olympic Committee (IOC) last year.

Based on the placings of boxers at the July 26-Aug. 11 Games, the IBA said it will award $100,000 to gold medallists, $50,000 for silver medals and $25,000 for bronze.

The move follows that of World Athletics, which in April announced it would be the first governing body to offer $50,000 in prize money for its Olympic champions, starting in Paris this year.

"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," IBA President Umar Kremlev said in a statement.

"Our athletes and their efforts must be appreciated. The IBA offers opportunities and invests considerably in our boxers, they remain as the focal point, and we will continue to support them at all levels."

Kremlev added that the total prize money fund commitment was worth more than $3.1 million and would be distributed to more than 100 boxers.

"We are setting a clear example for many on how International Federations should be treating their champions," IBA Secretary General Chris Roberts said.

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