Faced with the wrath of the International Boxing Association (AIBA) for non-payment of dues, India’s nationwide federation will probably be shelling out USD 120,000 by May 20 after being threatened with suspension by the world physique.
India misplaced the internet hosting rights of the 2021 males’s world championship for non-payment of host charge (USD 400,000), which prompted AIBA to impose a penalty of USD 500,000 on the nationwide federation.
The AIBA additionally accused the Boxing Federation of India for not paying the complete host charge for the 2018 girls’s world championship in Delhi, placing the quantity at USD 360,000.
“We will be paying installments for three months — March, April and May –, which amount to USD 120,000. This will be done by May 20,” a BFI supply instructed PTI.
“We are hopeful of an amicable solution to the entire issue,” he added, hoping that the penalty could be waived off after negotiations.
The AIBA has set a deadline for the tip of this month.
“…we remind you that, according to the AIBA statutes, a National Federation may be suspended if it fails to pay its debt towards AIBA,” said a letter from the AIBA, which has been despatched to the nationwide physique.
The AIBA said that relying on whether or not India complies with the deadline, it is going to take up the case of BFI at its ongoing on-line govt committee conferences.
AIBA Interim President Mohamed Moustahsane had earlier said that India did not ship on fee of the host metropolis charge by the December 1, 2019 deadline, forcing the world physique to award the 2021 occasion to Serbia.
The BFI, on its half, blamed logistical points for delay in fee.