The establishment of the European Boxing Academy in the Italian town of Assisi is a sign of rapid changes being made within the International Boxing Association (AIBA), President Umar Kremlev has claimed.
Speaking after he had signed the official agreement on the long-planned project, Kremlev - who also had a training session with the Italian national boxing team while taking time out from the AIBA Youth World Championships currently underway in Kielce in Poland - commented that "AIBA is rapidly changing".
"Our main task is to effect massive development of boxing in every country and to grow new champions," Kremlev continued.
"Athletes, coaches and heads of the National Federations are the most important persons for AIBA.
"The new academy is one of many important steps which we are doing for the sake of development of boxing."
In December 2019, insidethegames reported that the Academy would cost €2 million (£1.7 million/$2.4 million).
It will form a boxing cluster that will include a museum of the sport arranged by the Italian Boxing Federation.
Theory and practice courses will be available for athletes and coaches.
The Italian national boxing team is already headquartered in Assisi.