IBA to invest over $80 million in prizes over 4-year calendar

The International Boxing Association (IBA) has announced that it will invest over $80 million in prize money over the next four-year cycle to 2028, as well as unveiling the full schedule of events around the world.

The IBA's Board of Directors approved the comprehensive events roadmap at its meeting in Madrid on Saturday , coinciding with theSaturday evening of the IBA Champions' Night, where Bulgarian Javier Ibáñez headlined against local Jose Quiles.

It was decided that the IBA's flagship events, the IBA World Boxing Championships for men and women, will be held every two years, with significant prizes for athletes and coaches. "We are ready to continue to invest in our athletes and we are showing it through our actions," said IBA President Umar Kremlev.

The prize pool for the men's events is set at a staggering $10.4 million (€9.6 million) per event, and for the women at $4.8 million (€4,4 million). The next IBA Women's World Boxing Championships will be held in Astana, Kazakhstan from 21 September to 6 October 2024, with the next men's World Championships scheduled for April 2025.

The IBA Youth World Boxing Championships will be an annual event with a prize pool of $1 million (€930,000) and the Junior World Championships will also be held annually. The IBA's flagship professional event, the thrilling 2024 IBA Champions' Night, will continue its great work with regular events in all corners of the globe, with an annual prize pool of $7 million (€6.5 million).

Elite continental events for men and women will be held annually on each continent with a prize pool of up to $1 million per event, a significant figure for the development of the sport. Youth and junior events are planned for each continent every year. In addition, the IBA is launching the new IBA Team World Cup, which will be held every two years, with the inaugural event scheduled for December 2024 in Dubai, United Arab Emirates.

"With the impressive budget we have secured for the next four years, we are committed to delivering the best for the sport of boxing, which is unprecedented. I am eager to explore new event formats and develop the current ones," concluded IBA President Umar Kremlev.