International Boxing Association to offer prize money to medallists at 2024

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Last Updated: 29/05/24 10:24am

Boxing Gold Medallists At The 2024 Paris Olympics Will Receive £50,000 With Another 50 Shared Between Their Coach And National Federation

Boxing gold medallists at the 2024 Paris Olympics will receive £50,000 with another 50 shared between their coach and national federation

The International Boxing Association (IBA) will offer prize money to all Olympic medallists at this year’s Paris Games, the body announced on Wednesday.

IBA president Umar Kremlev said in a statement: “Paris gold medallists in the boxing tournament will receive a substantial financial reward of $100,000 (£78,390). Out of this amount, the athlete will receive $50,000, their National Federation will receive $25,000, and their coach will receive $25,000.”

Silver medallists will receive $25,000 with boxers taking bronze earning $12,500.

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.”

More to follow.