India has lost the hosting rights of the 2021 Men’s World Boxing Championship after the Boxing Federation of India (BFI) failed to pay the host fee to International Boxing Association (AIBA).
The hosting rights of men’s world boxing championship have now been given to Serbia. BFI acknowledged the cancellation and the delay in the payment but blamed it on the procedural complications of AIBA.
The amount to the international boxing association was estimated to be USD 4 million and the payment was to be made by the host country on December 2, 2019. India will also have to pay the cancellation fee penalty of USD 500.
• AIBA stated that it is glad that Serbia will be a new host for boxing championship which will be held in the Olympic year (2021) after the Tokyo Olympics have been postponed due to COVID-19.
• AIBA President also defined it as a big step for the new competition system and for the financial stability of the organization which will be less dependent on Olympic money.
• As Olympic 2020 has been rescheduled, AIBA will discuss with the host country for the possible dates to adjust.
• AIBA has also been suspended by the International Olympic Committee for the case of financial mismanagement.
Why India lose hosting rights?
The Boxing Federation of India (BFI) which is headed by Ajay Singh, accepted the payment delay by the federation but it mentioned the procedural complications on AIBA’s part who failed to resolve the issues regarding the account in which the money was to be transferred.
In a statement released by BFI, the federation stated that AIBA’s account in Lausanne was frozen and the international boxing association was intending to have some previous payments through an account in Serbia. Since Serbia is mentioned in the Grey List of Financial Action Task Force (FATF), Indian banks do not allow to send money to Serbia. The elaborated issue was not resolved by AIBA.
The federation also mentioned that the decision of changing the venue was taken in haste ad without any consultation with BFI. Both the parties are working for the solution and the federation is confident that the penalty will be waived off.
BFI had hosted the Women’s World Championship in 2018 and had also won the hosting rights of the Asian Championships this year.
AIBA gave hosting rights to Serbia:
AIBA is a statement mentioned that New Delhi was not able to fill its obligation hence AIBA has terminated its contract. The men’s World Boxing Championship will not be held in the Serbian city of Belgrade.
AIBA interim president Mohamed Moustahsane said that Serbia has everything to organize great events for coaches, officials, athletes, and boxing fans.
Serbian Boxing Federation President welcomed the championship in Belgrade after 43 years. After the historical tournament of 1978 which took place in Yugoslavia, this will be the second time for the nation to be the host.