India in danger of losing 2021 Boxing World Championship hosting rights due to uncleared dues
- The interim president of AIBA told that a grace period of 10 months would be given to the BFI to clear all outstanding payments.
What's the story?
It has come to light that the Boxing Federation of India, the highest body of the sport in the country, are yet to pay a due of ₹3 crore to the Amateur International Boxing Association (AIBA) for the 2018 Women’s World Championship and the hosting fees for the 2021 boxing world championship that is to be held in the capital. This could mean that India will be debarred from hosting the upcoming event.
In case you didn’t know
The BFI is undergoing a financial crisis and the prize money to the boxers for the second edition of the India open is yet to be paid.
Heart of the matter
The BFI has received a legal notice from the AIBA stating that the delay in payment could lead to a shift in venue for the 2021 Boxing World Championship. The interim president of AIBA told that a grace period of 10 months would be given to the BFI to clear all outstanding payments. However, the hosting rights fee for the 2021 Boxing Championship need to be paid at the earliest. Moustahsane was quoted as saying
“The kind of financial situation that the AIBA currently finds itself in, it definitely does not allow us to wait any longer.”
The BFI counter attacked by saying that the AIBA's legal issues were responsible for the delay in payment. Their bank accounts were frozen and the amount deposited for the women’s boxing championship was sent back by the bank. They also claimed that they were told to transfer the money in the account of the lawyers of AIBA which would mean violation of the laws laid down by the government of India.