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BC-BOX--AIBA-Russian Offer

May 16, 2019
The Russian boxing powerbroker behind a $16 million cash offer aimed at keeping the sport in the Olympics has denied the government is funding his campaign. Umar Kremlev is due to present his offer when the International Boxing Association’s executive committee meets on Saturday, four days before the International Olympic Committee board discusses boxing’s place on the program.

MOSCOW (AP) — The Russian boxing powerbroker behind a $16 million offer aimed at keeping the sport in the Olympics has denied the government is funding his campaign.

Umar Kremlev is due to present his offer when the International Boxing Association’s executive committee meets on Saturday, four days before the International Olympic Committee board discusses boxing’s place on the program.

The IOC has criticized the boxing body, known as AIBA, over its long-running financial problems and choice of leadership.

Kremlev has offered to cover AIBA’s $16 million debts in full and fund its development budget for five years. He says the offer is “all transparent” but hasn’t named the investors he says are backing him, except to say “it’s private funds, not state.”

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