International Boxing Association to offer prize money to medallists at 2024

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The International Boxing Association (IBA) will offer prize money to all Olympic medallists at this year’s Paris Games.

The body, which is not organising the boxing in France after it was stripped of recognition by the International Olympic Committee (IOC) last year, will award $100,000 to gold medallists, $50,000 for silver medals and $25,000 for bronze.

Of those amounts, half will go the medalling athlete, with the other 50 per cent shared between their coach and national federation.

Boxers who lose in the quarter-finals and finish fifth will each receive $10,000, with IBA president Umar Kremlev saying more than $3.1m will be distributed to over 100 athletes.

Kremlev said: “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.

“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 OBE, 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.”

Gold Medalist Elaine Thompson-Herah, Of Jamaica, Poses During The Medal Ceremony For The Women'S 200-Meter At The 2020 Summer Olympics, Wednesday, Aug. 4, 2021, In Tokyo. (Ap Photo/Martin Meissner)
Track and field athletes will be awarded prize money if they win gold in Paris

Track and field became the first sport to introduce prize money at the Olympics, with World Athletics saying it would pay $50,000 (£39,195) to gold medallists in Paris.

The governing body of athletics said it was setting aside $2.4m (£1.81m) to pay the gold medallists across the 48 events on the track and field program for this year’s Paris Olympics. Relay teams will split the $50,000 between their members.

World Athletics president Sebastian Coe said in a statement at the time: “While it is impossible to put a marketable value on winning an Olympic medal, or on the commitment and focus it takes to even represent your country at an Olympic Games, I think it is important we start somewhere and make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is.”

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