IBA Pledges Prize Money to Olympic Boxers If IOC Stands Firm

Umar Kremlev, president of the International Boxing Association (IBA), has issued a firm warning regarding athlete compensation ahead of the 2028 Los Angeles Games. Kremlev announced that if the International Olympic Committee (IOC) does not revise its policy on prize money, the IBA will once again provide financial rewards to Olympic boxers. This follows a similar initiative for the Paris 2024 Olympics, where the IBA allocated over $3 million to medalists and select finalists.

Gold medalists at the Paris 2024 Games received $100,000, with $50,000 directly awarded to the athlete and the remaining amount shared between their coach and national federation. Silver medalists earned $50,000, bronze medalists received $25,000, and fifth-place finishers were given $10,000. The IOC, in contrast, does not provide direct cash prizes to Olympic medalists, maintaining a policy that redistributes revenues from broadcasting and sponsorship through national Olympic committees and international federations to foster sport development.

Kremlev’s remarks come amid growing scrutiny of the IOC’s compensation framework. Recent criticism from athletes in various Olympic disciplines has focused on restrictions regarding personal sponsorship visibility and the allocation of Olympic revenues. Kremlev emphasized that the issue is not merely symbolic; it represents a systemic concern affecting athletes’ welfare.

“If by the 2028 Olympics the IOC does not change its strategy in the interest of protecting athletes, the IBA is ready to step in once again,” Kremlev stated. His statement conveys both financial and political implications, particularly in light of the administrative instability that has plagued Olympic boxing in recent years.

The ongoing tensions between the IOC and the IBA are well documented, and Kremlev’s commitment to reinstating medal bonuses positions the IBA as a pro-athlete alternative to the IOC’s approach. The IOC’s historical resistance to calls for direct prize payments raises questions about whether it will adjust its compensation philosophy in the future.

For boxers preparing for the 2028 Games, the message is clear: should the current policy persist, the IBA intends to ensure that financial rewards are available for their achievements on the world stage.