IBA President Promises Prize Money for Boxers at LA 2028

Kremlev says IBA will pay Olympic champions and medalists if IOC doesn't change financial policies

Published on Feb. 26, 2026

Got story updates? Submit your updates here. ›

The International Boxing Association (IBA) President Umar Kremlev has declared the intention to award boxers prize money at the 2028 Los Angeles Olympics, in case the International Olympic Committee (IOC) does not change its policy on athlete compensation. Kremlev criticized the IOC for depriving athletes of rightful earnings and said the IBA will pay the same prize amounts as it did for the Paris 2024 Olympics, where gold medalists received $100,000 each.

Why it matters

The announcement highlights the growing frustration among athletes over the IOC's financial model, which generates billions in revenue but provides little direct compensation to the competitors. Kremlev's pledge to step in and pay prize money directly challenges the IOC's control over the Olympic movement and could pressure the organization to reform its approach to athlete compensation.

The details

For the Paris 2024 Olympics, the IBA awarded more than $3 million in prize money to boxers up to the quarterfinals. Gold medalists received $100,000 each, with $50,000 going to the athlete, $25,000 to the coach, and $25,000 to the National Federation. Silver medalists received $50,000, and bronze medalists $25,000, distributed in the same manner. Boxers who placed fifth received $10,000 each. Kremlev said the IBA is ready to provide the same level of direct financial support to athletes at the 2028 Los Angeles Olympics if the IOC does not change its policies.

  • The IBA awarded over $3 million in prize money for the Paris 2024 Olympics.
  • Kremlev said the IBA is ready to provide the same level of direct financial support to athletes at the 2028 Los Angeles Olympics.

The players

Umar Kremlev

President of the International Boxing Association (IBA).

International Olympic Committee (IOC)

The worldwide governing body of the Olympic movement, which has faced criticism for its financial policies towards athletes.

Elvira Öberg

A biathlete who has spoken out against the IOC's restrictions on athletes' rights to advertise their personal sponsors.

Sebastian Samuelsson

A biathlete who has criticized the IOC's financial philosophy, noting that athletes would prefer to benefit from their own success and a share of the revenue they generate.

Got photos? Submit your photos here. ›

What they’re saying

“The Olympic Games has long ceased to be about sport. 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.”

— Umar Kremlev, President, International Boxing Association (news-press.com)

“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.”

— Sebastian Samuelsson (news-press.com)

What’s next

The IBA has stated that it is ready to provide the same level of direct financial support to athletes at the 2028 Los Angeles Olympics if the IOC does not change its policies on athlete compensation.

The takeaway

The IBA's pledge to pay prize money to Olympic boxers challenges the IOC's control over the financial model of the Olympic movement and could pressure the organization to reform its approach to athlete compensation. This highlights the growing frustration among athletes over the IOC's policies and the desire for a more equitable system that better rewards the competitors who are the heart of the Olympic Games.