The International Boxing Association (IBA) has made history by paying out nearly $8 million USD in prize money to medallists of major competitions during the 2021-2022 period.
This is an unprecedented move in the history of the IBA, and it is a testament to the organization’s commitment to promoting and supporting the sport.
IBA President Umar Kremlev is credited with establishing this tradition, which has been warmly welcomed by athletes. The prize money has allowed athletes to invest in their own lives and the lives of their families, providing them with the means to ensure a better quality of life now and after their boxing career.
This is a significant step forward for the sport of boxing, as it provides boxers with the financial stability and security they need to focus on their training and competitions. The prize money paid out by the IBA has also helped to raise the profile of the sport and attract more athletes to compete. This has led to increased competition and higher-quality performances, making the sport more exciting for fans and spectators.
The IBA’s efforts to support and promote the sport of boxing have been widely praised, as the organization is committed to the long-term growth and development of the sport.