IBA set to renew sponsorship deal with Gazprom — RT Sport News
Development comes despite IOC concerns over dependence on Russian gas giant
The International Boxing Association (IBA) appears set to renew its sponsorship deal with Gazprom after its national federations endorsed it despite concerns over dependence on the Russian gas giant previously raised by the International Olympic Committee (IOC).
Russian IBA President Umar Kremlev told representatives at a regular congress in Abu Dhabi on Sunday that a two-year, $50 million deal with Gazprom was coming to an end.
“Gazprom helped us become independent and made us financially stable”, Kremlev said, as reported by Inside the Games.
“Through this partnership, we have been able to help many athletes and have been able to offer prize money at continental and world championship level.”
“He also ensured the participation of national federations which would not otherwise have been able to send teams to these events. They turned to the IBA, which helped them to participate.
“This year, the contract ends” Kremlev informed the assembly, before asking “National federations, do you agree to extend the contract? to a round of applause.
The IBA is currently barred from overseeing boxing at the 2024 Paris Olympics and has been urged to introduce reforms. The sport was excluded from the initial program of the Los Angeles 2028 Olympics.
The IOC and its President Thomas Bach are worried about refereeing and judging, in addition to the finances of the IBA and “financial dependence” on Gazprom.
Kremlev explained during the Ordinary Congress how he wanted to ensure that all decisions regarding the future of the IBA were made in conjunction with the national federations before declaring that his focus was boxing. “to become the cleanest and most transparent sport there is.”
The IBA has named McLaren Global Sport Solutions as its “integrity monitoring body” for the next four years, and Kremlev further announced that the IBA “will also extend his contract with Professor McLaren and his team so that our transparency only grows stronger.”
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