BRAND-NEW DELHI: India on Tuesday lost the hosting rights of the 2021 guys’s world boxing champion to Serbia after the International Boxing association declared non-payment of host charge by the national federation, which declared that AIBA “acted in rush”.
The Boxing Federation of India acknowledged the hold-up however blamed it on “procedural complications” arising out of the AIBA’s failure to resolve “issues” with concerns to the account in which the cash was to be moved.
The payment of what is estimated to be $4 million was due to be made on December 2 last year.
” After New Delhi didn’t fulfill its commitments to pay host fee as discussed in the Host City Agreement terms, AIBA has actually terminated the contract. Therefore, India would need to pay a cancellation charge of $500000,” the AIBA said in a declaration.
The elite competition, which would have occurred for the very first time in the country,