Lausanne - The under-pressure International Boxing Federation (AIBA), which is
fighting to keep its sport on the 2020 Tokyo Olympic roster after a
storm of corruption allegations, has told the International Olympic
Committee (IOC) that swift progress is being made on cleaning up the sport.
Boxing's inclusion in Tokyo depends on the outcome of an
investigation into AIBA by the IOC, which has presented the body with a
list of 41 questions via audit firm Deloitte.
AIBA leader Gafur Rakhimov stepped down as head last week, which the
IOC deemed as merely the first step in a long march towards the required
But on Wednesday, the AIBA made a plea to the IOC, saying significant
progress had been made on their accounting and claiming that the body
would collapse without IOC support.
The IOC has suspended AIBA's Olympic qualification process and may take control of that process itself.
Ducking and weaving for its survival, the AIBA says it should be given the chance to turn things around.
"Considering where we were one year ago, AIBA has made significant
progress towards reducing its debt and has gone from a negative cash
flow of over $2,000,000 annually, to a positive cash flow," AIBA
executive director Tom Virgets said in a report.
Virgets said of the report that the AIBA "is dependent on the Olympic dollars" for its survival.
"With the Olympic money AIBA will have the financial resources to not
only meet its obligations, but also eliminate AIBA's debt and create
positive equity by 2024," he said.
"Once the IOC allows AIBA to move forward as the Olympic governing
body, AIBA will be able to reduce our debt by an additional 4-5 million
over the next 12 months."
Relations between the IOC and AIBA were hit hard at the 2016 Rio
Olympics when 36 officials and referees were suspended amid allegations
of bout fixing.
An internal investigation by AIBA has raised serious questions about
the judging at the 2016 Rio Olympics, with particular suspicion falling
on a French official.