International Olympic Committee (IOC) member Nenad Lalovic has expressed doubt over the International Boxing Association’s (AIBA) ability to pay off millions of dollars’ worth of debt as the crisis-hit body looks to overhaul its governance.
Aiba is at least $16m in debt and has made efforts to reform its governance in the months following the IOC’s decision. AIBA in November formed two commissions dedicated to the reform efforts and the development of a new marketing strategy.
“We do not know if there are possibilities for clearing AIBA’s debts and we have no knowledge of any financial plan.” Lalovic was quoted by Reuters expressing his doubts. It is worth noting that Lalovic heads the world wrestling body, United World Wrestling and has been entrusted by IOC to head the task force to monitor changes of AIBA. Lalovic also said that AIBA is looking to organize new competitions to generate revenues.
“We have been informed of Aiba’s willingness to organise new competitions in order to generate revenues,” Lalovic said, according to the Reuters news.
The IOC stripped AIBA of its Olympic status last June, confirming that the boxing tournament at this year’s Games in Tokyo would go ahead without the involvement of the organisation. The decision followed months of wrangling between the IOC and Aiba on a number of issues, dating back to the suspension of all 36 boxing officials and referees following a judging scandal at Rio 2016.
The IOC Session is taking place this week in the Swiss city of Lausanne and Lalovic, who is heading a task force to monitor changes at AIBA has been discussing the body’s reform efforts.