India lost the hosting rights of the men’s World boxing championship 2021 to Serbia. International Boxing Association (AIBA) has terminated the agreement signed in 2017 by India. India will also have to pay the cancellation fee penalty of USD 500.
The elite competition, which would have happened for the first time in India, will now be held in the Serbian city of Belgrade. President of Serbian Boxing Federation, Nenad Borovcanin welcomed the Championships back to Belgrade after 43 years. According to AIBA Interim President Mohamed Moustahsane, Serbia has everything to organize a great event for athletes, coaches.
Why India lost the hosting rights of the Championship?
- The Boxing Federation of India (BFI) which is headed by Ajay Singh has accepted the payment delay by the federation but it mentioned the procedural complications on AIBA’s part who failed to resolve the issues regarding the account in which the money was to be transferred.
- The payment of what is estimated to be USD 4 million was due to be made on December 2 last year.
Important takeaways for all competitive exams:
- AIBA Founded: 1946.
- AIBA Headquarters: Lausanne, Switzerland.
- AIBA President: Dr Mohamed Moustahsane.