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International Boxing Association plans to renew sponsorship agreement with Gazprom

MOSCOW, December 11 – RIA Novosti. The International Boxing Association (IBA), headed by the organization’s chairman Umar Kremlev, plans to renew its sponsorship agreement with Gazprom.

At the global boxing forum in Abu Dhabi on Sunday, the Kremlin said the two-year, $50 million deal will expire soon. The head of the IBA sought the support of the delegates before re-signing the contract with the Russian company.

Gazprom has helped us become independent and ensured our financial stability. Thanks to this partnership, we were able to help many athletes and offer them continental prize money at world championship level. At the same time, it has ensured the participation of national federations, which would not otherwise be able to send teams to these competitions. They turned to the IBA, which helped them participate, “as quoted by Kremlev’s Inside the Games.

In his speech, Kremlinev asked IBA representatives if they agreed to extend the contract with Gazprom. The question of the IBA President was met with applause. Kremlev later stated that his aim was to make boxing “the purest and most transparent sport”.

In 2019, the International Olympic Committee (IOC) suspended its membership of the IBA (later AIBA). The boxing tournament at the Olympics was saved, but was organized by a special commission of the IOC at the Tokyo Games. In August 2021, Kremlev stated that the IBA has paid all its debts thanks to the sponsors. In June this year, the IOC announced that the boxing tournament at the 2024 Olympic Games in Paris will once again be held outside the IBA. Boxing is also not included in the pre-program for the 2028 Olympics. On Tuesday, IOC sports director Keith McConnell told the organization’s executive committee that Tuesday’s suspension of IBA membership remains in effect.

Source: Ria

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