World Boxing in financial crisis, Games at risk

\There is no peace for world boxing, a historic Olympic sport (uninterruptedly since 1912), which risks disappearing from Olympics in Los Angeles 2028. Boxing has always given great satisfaction also to the Italian movement with 48 Olympic medals (15 gold) becoming the fourth power in the world. After having risked being excluded from the Olympics in California LA2028, being included only last March by the Session of the International Olympic Committee (IOC), from 2023 boxing has a new international federation, the World Boxing, parallel to the IBA, the previous structure no longer recognized by the IOC and only by some Nations.

World Boxing, however, is facing a serious financial crisis. Internal documents and an independent audit warn that its survival into 2026 depends almost entirely on IOC funding which, among other things, is unconfirmed. World Boxing, to which Italy is also affiliated with its Pugilistic Federation (FPI), is only recognized ‘provisionally’ by the IOC and does not yet enjoy the financial security that full recognition could guarantee. Established to ‘save Olympic boxing’, the organization which elected Kazakh Gennadiy Golovkin at the recent congress in Rome is now in danger of failing.

The audit describes a state of over-indebtedness within the meaning of Article 725b of the Swiss Code of Obligations, which in practice constitutes a technical insolvency. World Boxing’s activity is based on external loans and the support of the International Olympic Committee which, for the moment, does not exist.

The audit shows that it closed 2024 with losses of 140,400 euros and a negative net worth of 212,000 euros. The only reason World Boxing has not yet entered formal insolvency proceedings is a €226,600 loan from USA Boxing which will be repaid in installments until 2029. Liquidity remains extremely limited, with just €86,900 available. The federation has presented a provisional budget of 2.2 million euros for 2026, of which 1.45 should come for almost two thirds from the International Olympic Committee but the figure is “indicative” and “not guaranteed”.

World Boxing expects staff costs of over 1.3 million euros. The internal revenue expected for 2026 amounts to 675,000 euros, of which 159,500 euros from membership fees, 234,600 euros from sponsorships and 281,500 euros from events and television rights. The IBA is not sitting idly by and is organizing the World Championships in Dubai with a record prize pool of 7.25 million euros (8 million dollars): the greatest in the history of amateur boxing. Golovkin faces a decisive challenge with three urgent tasks: securing the immediate funding needed to avoid insolvency, convincing the International Olympic Committee that the federation deserves full and stable recognition, and ensuring boxing remains on the Olympic program beyond Los Angeles 2028.