Umar Kremlev, President of the IBA International Boxing Association, has announced cash prizes for medallists of the 2024 Olympic Games in boxing. This practice has never happened before. There is no prize money at the Olympic Games, cash prizes are paid only by the country to its athletes, everyone has different prize money and very different from each other.
But at the Games in Paris, the boxers will have the same prize money from the international federation. Recall that the IBA is not recognised by the Olympic Committee, but Umar Kremlev still decided to award his boxers.
Prize money for boxers at the Olympic Games 2024 from the IBA:
Gold medallists - $100,000.
Silver medallists - $50,000.
Bronze medallists - $25,000.
5th place - $10,000.
In addition, the Olympic finalists will have the right to box for the IBA world title in professional boxing, where the prize fund is $13 million.
