Rafiu Ladipo, President of the Nigeria Boxing Board of Control, has hailed the decision by the International Boxing Association (IBA) to offer financial incentives to boxers who secure medals at the upcoming Olympic Games in Paris, France.
Ladipo expressed his admiration for the initiative, stating that it serves as a motivation for boxers to push themselves to excel on the global stage. He emphasized the dedication and hard work put in by athletes to qualify for the Olympics, highlighting the significance of recognizing their achievements.
“Boxers will give their all to compete at the Olympic Games, and if they earn medals and receive recognition for their efforts, it’s well-deserved,” Ladipo remarked. “This gesture from the IBA will provide crucial support to amateur boxers who often struggle financially compared to their professional counterparts.”
While appreciating the IBA’s initiative, Ladipo also encouraged amateur boxers to consider transitioning to the professional circuit when appropriate. He pointed out the potential for greater financial rewards and recognition in professional boxing compared to the amateur ranks.
“I advise amateur boxers to turn professional to earn more money,” Ladipo suggested. “Professional boxers have the opportunity to compete in longer bouts and command higher earnings.”
The IBA’s decision to reward Olympic medallists with cash prizes marks a significant development in the sport. Under the leadership of IBA President Umar Kremlev, the organization plans to distribute over $3.1 million to more than 100 athletes who excel at the Paris 2024 Olympics.
Kremlev, a former chief of the Russian Boxing Federation, expressed pride in recognizing the efforts of athletes and reaffirmed the IBA’s commitment to supporting boxers at all levels. He emphasized the importance of valuing and rewarding athletes for their achievements on the Olympic stage.
“I am proud that IBA is among the pioneers in rewarding athletes for their Olympic successes,” Kremlev stated. “We will continue to prioritize the wellbeing of our athletes and uphold our commitments to supporting them.”
