IBA President Umar Kremlev promises prize money for boxers at LA 2028 if the IOC doesn’t change their policy towards athletes’ rewards
PhilBoxing.com
Thu, 26 Feb 2026
Lausanne, Switzerland – The International Boxing Association (IBA) President Umar Kremlev declared the intention to award boxers prize money as he did for Paris 2024 Olympic Games in case the IOC wouldn’t change their policy on the matter.
IBA President emphasized his sympathy for Olympians who have recently spoken out against the financial exploitation of athletes by the International Olympic Committee. While the IOC continues to generate billions in revenue from marketing, sponsorships, and broadcasting, the athletes - the very heart of any sport - remain the most vulnerable and financially neglected ones within the Olympic movement.
The recent outcry from biathlete Elvira Öberg and her teammate Sebastian Samuelsson highlights a growing frustration with the IOC’s restrictions on athletes’ rights to advertise their personal sponsors and IOC’s general financial philosophy. Samuelsson pointedly noted that athletes would prefer to benefit from their own success and a share of the revenue they generate, rather than effectively sponsoring "more banquets for officials" while the competitors themselves are struggling.
President Kremlev stresses that this is not just a marketing issue, but a systemic failure of the system where sports officials thrive at the expense of the competitors while offering them nothing in return.
"The Olympic Games has long ceased to be about sport,” Kremlev claimed. “There are too much politics and too little respect for those who spend years sweating in the gym. Today, it is not athletes who stand on the IOC’s podium, but politics, personal agendas, and behind-the-scenes games. The athletes themselves are left without fair compensation for their hard work and without confidence in their future.”
For the Paris 2024 Olympic Games, Kremlev criticized the IOC for depriving athletes of rightful earnings and awarded more than $3 million to the top placed boxers up to the quarter finalists. Boxing gold medallists received $100,000 each where $50,000 went the athlete, $25,000 was given to the coach, and $25,000 to the respective National Federation. Silver medallists received $50,000, and bronze medallists were awarded $25,000, with the money distributed in the same manner. Boxers who placed fifth received $10,000 each from the IBA. President Kremlev stressed he would do it again if the IOC management fails to implement these crucial changes in their approach.
“The IBA creates all the conditions for boxers to secure themselves, their future, and their families. I sincerely feel sorry for Olympic champions who are being deprived by sports officials who spend money belonging to athletes on the gala dinners and five-star hotels. I hope that the new IOC leadership will rid itself of the old ‘cancerous tumour’ that is destroying the Olympic family and will choose the path of independence and protection of the interests of athletes, coaches, and National Federations. Sports officials exist to serve in sports, and their titles are worth nothing without athletes, coaches, and fans,” Kremlev added.
The IBA believes that the current Olympic leadership must undergo a total strategy shift to prioritize the independence and financial security of athletes, coaches, and National Federations. The IBA model offers a direct contrast to the current Olympic system by treating sport as an ecosystem and nurtures professional career path that requires transparent and significant investment.
The IBA has already set a precedent by paying substantial rewards where payments are not limited to athletes, ensuring the entire support system is sustainable. Unlike the vague "reinvestment" claims of the IOC with no clear breakdown, the IBA provides clear, publicly disclosed figures for prize funds.
The IBA’s message to the new leadership of the Olympic movement is clear: the era of the athlete as a "beggar" must end.
"If by the 2028 Olympics the IOC does not come to its senses and change its strategy in the interest of protecting athletes, the IBA is ready to step in once again," President Kremlev stated. "We will pay the Olympic champions and medallists the same prize amounts as we did before, because they are our athletes, and the IBA is their home of boxing. Sport must be about the athletes and their rights and the entire Olympic movement needs a radical reboot.”
Recent PhilBoxing.com In-House articles:
Taduran Stops Pérez in 7, and “Still” IBF 105 Champion
By Carlos Costa, Sat, 04 Apr 2026Pedro Taduran Scores Sensational Stoppage Over Gustavo PÉRez ÁLvarez in IBF Minimumweight World Championship Main Event
Sat, 04 Apr 2026BROWN STOPS DUCAR TO LAND FIRST PRO TITLES
Sat, 04 Apr 2026Guy Jutras, a gentleman and pilgrim of world boxing, passes away
By Gabriel F. Cordero, Sat, 04 Apr 2026GM Joey Antonio keeps Philippine flag alive, posts hard-earned win in Canberra chess meet
By Marlon Bernardino, Sat, 04 Apr 2026TWO WORLD TITLE FIGHTS CONFIRMED FOR ‘GLORY IN GIZA’ UNDERCARD
Sat, 04 Apr 2026MANSOUR AND BALLO MAKE WAVES WITH UNPRECEDENTED OPEN WORKOUT ABOARD CITY CRUISES ADMIRAL HORNBLOWER AHEAD OF SD FIGHT NIGHT: FAMILY BUSINESS
Sat, 04 Apr 2026Rookie Kon Knueppel breaks Charlotte Hornets three points record
By Gabriel F. Cordero, Sat, 04 Apr 2026IBA extends its global reach through a strategic partnership with Nomad Fighting premiering at IBA Nomad 14
Sat, 04 Apr 2026GM Laylo leads in Bundesliga 3 and in IIEE chess Olympiad season 8
By Marlon Bernardino, Sat, 04 Apr 2026MANNY PACQUIAO PROMOTIONS TADURAN VS. PEREZ WEIGH-IN RESULTS
Fri, 03 Apr 2026PLANET ICE FIGHT NIGHT: WEIGH-IN RESULTS AS BROWN AND DUCAR FACE-OFF FOR FINAL TIME
Fri, 03 Apr 2026Battle of the Trades Returns for Its 3rd Year April 25 at Torrey Pines Community Resource Center in Las Vegas
Fri, 03 Apr 2026Bobby Laing vs. Russ Kimber in intriguing Intra-state match-up between Massachusetts Light Heavyweights on ‘Rumble at the Rink II’
Fri, 03 Apr 2026PH chess wizard Jacobb Seda ties for 1st, settles for silver on tiebreaks in Thailand meet
By Marlon Bernardino, Fri, 03 Apr 2026