IBA Plans Prize Money for Boxers if IOC Maintains Policy

Umar Kremlev, the president of the International Boxing Association (IBA), has announced plans to reinstate prize money for Olympic boxers at the 2028 Los Angeles Games if the International Olympic Committee (IOC) does not revise its policy on athlete compensation. This declaration highlights Kremlev’s commitment to supporting athletes, particularly in light of growing concerns about financial rewards in Olympic sports.

In 2024, during the Paris Olympics, the IBA distributed over $3 million to medalists and select finalists. Gold medalists received $100,000, with $50,000 allocated to the athlete and the remaining amount shared equally between the coach and the national federation. Silver medalists earned $50,000, bronze medalists received $25,000, and those finishing fifth were awarded $10,000. The IOC does not provide direct prize money to Olympic medalists, maintaining that revenues from broadcasting and sponsorship are redistributed through national Olympic committees and international federations to promote sports development.

Kremlev’s stance reflects a broader discontent within the sports community regarding current compensation structures. He stated that if the IOC fails to adjust its strategy to better protect athletes by the time of the 2028 Olympics, the IBA is prepared to intervene once again. His comments underscore the financial and political dimensions of the issue, as Olympic boxing has experienced significant administrative instability, compounded by ongoing tensions between the IOC and the IBA.

The IBA’s decision to potentially offer medal bonuses again positions the organization as an athlete-centric alternative to the IOC’s existing model. Kremlev emphasized that the situation is systemic and not merely symbolic, signaling a readiness to support athletes financially if the IOC does not change its approach.

The IOC has historically resisted calls to implement direct prize payments, and it remains uncertain whether it will alter its compensation philosophy in response to Kremlev’s comments. As boxers prepare for the upcoming Los Angeles Games, the message is clear: if the current compensation policy remains unchanged, there will be financial support available from the IBA, offering an appealing option for athletes seeking to maximize their earnings on the Olympic stage.