April 26, 2007
The International Olympic Committee (IOC) reaffirmed its support for the reform process currently taking place at the International Boxing Association (AIBA) following the approval by its Executive Board in Beijing, China on Thursday of the release of $400,000 of frozen funds.
Following an initial release of $300,000 of the total sum of $1.1m in November last year, the $400,000 represents 50 percent of the remaining total withheld from television revenue at the 2004 Athens Olympics due to the IOC’s concern over three important areas - open scoring, the drawing of judges, and the system of selection of referee and judges for tournaments.
AIBA President Dr. Ching-Kuo Wu, who was elected five months ago, has continually stressed the importance of transparency in all of AIBA’s operations and is encouraged by the fact that recent AIBA tournaments have been celebrated for their eradication of official protests.
Following Thursday’s announcement Dr Wu said: “This is further evidence of the IOC’s confidence in AIBA’s reform process and that the new AIBA is making all the right decisions and actions in its mandate to improve the sport of Boxing.”
The IOC indicated that the remaining $400,000 will be released subject to the 2007 World Championships, which will be held in the USA later this year.
About the International Boxing Association
The International Boxing Association (AIBA) is a non-profit making international organization, which was founded under the name Fédération Internationale de Boxe Amateur (FIBA) in 1920. In 1946 a new start was given with the launch of AIBA to replace the dissolved FIBA and now, more than 60 years later, AIBA, with its 195 member federations, continues to govern the sport of Boxing, working for the benefit of the sport and all its participants, to help Boxing realise its potential within the Olympic Movement and the international sporting arena. For more information please visit www.aiba.org