Olympic boxers handed prize money boost for winning medals at Paris 2024
Gold medallists will be awarded $100,000 while silver and bronze medals will take home $50,000 and $25,000 respectively
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The International Boxing Association (IBA) has said it will offer prize money to all Olympic medallists at Paris 2024 this summer.
The announcement comes even though the body will not be in charge of the sport in Paris after being stripped of recognition by the International Olympic Committee (IOC) in June last year. It came after a years-long dispute fuelled by the organisation defying advice and instructions from the IOC.
IBA president Umar Kremlev suggested that $100,000 will be awarded to gold medallists, while silver and bronze medals will take home $50,000 and $25,000 respectively.
Boxers who lose in the quarter-finals and finish fifth will each receive $10,000, with half the money going directly to the athlete and the other 50 per cent shared between coaches and the fighter’s national federation.
“Our athletes and their efforts must be appreciated,” Kremlev said in a statement on Wednesday. “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.
“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.”
Chris Roberts, the IBA’s secretary general and CEO, added: “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.”
The announcement makes boxing the second sport at the upcoming Games to offer prize money to athletes after World Athletics announced last month it would reward track and field gold medallists with a $50,000 bonus. The move was criticised by IOC President Thomas Bach, with the organisation also questioning Wednesday’s announcement from IBA.
“The IOC has taken note of the decision by the IBA with regard to prize money,’ a spokesport told the Daily Mail. “As always with the IBA, it is unclear where the money is coming from. This total lack of financial transparency was exactly one of the reasons why the IOC withdrew its recognition of the IBA.”
Boxing is currently set to be removed from the Olympic schedule for the Los Angeles Games in 2028 unless changes are made to its international governing body.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments