IBA ups the ante; USD$200,000 for World Championship gold
——-Increased prize money a game changer says GBA’s President Steve Ninvalle
President of the Guyana Boxing Association (GBA) Steve Ninvalle has called the decision by the International Boxing Association (IBA) to increase the prize money for the upcoming world championships a game changer.
In what can only be described as a monumental and historic day for the sport of boxing, the IBA has increased their prize pool by an enormous 50 per cent for next year’s World Championships billed for Tashkent, Uzbekistan.
“for the first time in history, we will have a record prize money fund of USD$5.2m,” said IBA president Umar Kremlev.
“For the first place, the award is USD$200,000, for the second place USD$100,000 and for each bronze medallist USD$50, 000,” Kremlev added.
NInvalle said that the announcement was nothing short of extraordinary and emanates on the heels of fruitful consultation and discourse within the IBA family under the astute leadership of Kremlev.
“Context is important,” said Ninvalle. “What we are witnessing when it is brought into existence, is a game changing initiative for amateur boxing led by
President Kremlev following discussions with all and sundry within the IBA family for the betterment, sustainability and overall viability of the sport. This is a marvelous day for amateur boxing.”
The prize monies mark a 100 per cent increase from the last World Championships where a gold medal was worth USD$100,000.
“We are entering a realm where the financial opportunities are endless for amateur boxing. Perspective is key. This announcement provides the avenue and platform for a life changing reality for boxers especially those from the Caribbean region and local shores. Any medallist, especially a gold medal winner essentially can secure or be on the path of achieving generational wealth, as most combatants emanate from the working class strata. This announcement cannot be understated and should be heralded as it provides the prospect for amateurs to achieve financial security through sporting accomplishments.
Presently, middleweight boxer Desmond `Dynamite ‘Amsterdam, following his
exploits at the Commonwealth Games, as well as his bronze medal attainment at the Americas Boxing Confederation Championships, and South American games, is the highest ranked local IBA pugilist at 23rd.Keevin Allicock, who also secured a bronze medal at the South American games, is ranked 54thin the featherweight division.