According to media reports, the International Olympic Committee stripped boxing governing body AIBA of its Olympic status Wednesday (26 June) in light of the association’s reported $17 million dollars in debt.
With AIBA President Gafur Rakhimov linked to organized crime and currently under US sanctions federal sanctions, the IOC moved forward on its executive board’s recommendation from last month to suspend the governing body.
Rakhimov left his duties as AIBA President on an interim basis in March.
The IOC will now organize its own men’s and women’s qualifying and final tournaments for the 2020 Tokyo Games from January 2020 to March. AIBA will not receive revenue from the Toyko 2020 Games. The 2020 Olympics are set to feature eight weight classes for men and five for women.
Read the entire report here.