Almost two-thirds of Host Fee remains outstanding: Livid AIBA hits out at Boxing Federation

The Boxing Federation of India has nonetheless not paid “almost two third” of the host metropolis charge for conducting the 2018 girls’s world championship, the International Boxing Association (AIBA) has mentioned, accusing the BFI of failing to “comply with its obligations.”After the BFI acknowledged that AIBA acted in haste by taking away the 2021 males’s world championship from the nation for non-payment of host metropolis charge, the worldwide governing physique hit again in an announcement on late Wednesday night time.

“The decision by AIBA was also prompted by the fact that almost two thirds of the Host Fee due by BFI for having hosted the 2018 AIBA Women’s World Boxing Championships remains outstanding to date, more than 18 months after the event,” the AIBA acknowledged.

“This host fees should have been paid by BFI in summer 2018. AIBA showed a lot of patience and comprehension, agreeing on numerous successive repayment plans, which were never respected by BFI,” it added.

The AIBA, which has been suspended by the IOC for monetary and administrative mismanagement, didn’t disclose the quantity which is because of be paid by BFI for the 2018 occasion, which was held within the nationwide capital.

AIBA handed over the 2021 males’s championship, initially allotted to India in 2017, to the Serbian capital of Belgrade on Monday.

The BFI had acknowledged the delay in cost for the boys’s occasion however blamed it on “procedural complications” arising out of the AIBA’s failure to resolve “issues” as regards to the account during which the cash was to be transferred.

The cost of what’s estimated to be USD four million was attributable to be made on December 2 final 12 months.

“AIBA also disputes the reasons given by BFI for not paying their dues to AIBA. Since June 2019, Serbia is no longer on the grey list of the Financial Action Task Force (FATF). BFI managed to make some payments to AIBA in the course of winter 2020,” the AIBA mentioned in its newest assertion.

“In the current situation, AIBA cannot take the risk to suffer further losses caused by BFI’s failure to comply with its obligations,” it added.

AIBA has additionally imposed a cancellation penalty of USD 500 on the BFI, which known as it “shocking and surprising”.

“…both parties are working for an amicable solution. BFI is confident that the penalty will be waived off and we will host World Championships in future,” the BFI had mentioned.

AIBA additionally disputed BFI’s declare that it had invited contemporary bids for the occasion in December itself.

“New Delhi did not fulfil its obligations to pay the host fee as mentioned in the Host City Agreement, despite numerous reminders by AIBA and after having been offered multiple options to settle their obligations, AIBA had no choice but to terminate the contract in April 2020,” it mentioned.