The International Boxing Association (IBA) held a press conference at the Çırağan Palace Kempinski in Istanbul earlier this week. IBA President Umar Kremlev and Secretary General were among those who addressed international media. The speakers discussed prize money for the organisation’s flagship tournaments, the inaugural IBA President’s Cup and the forthcoming Elective Congress, new projects for boxers and fans, and the IBA’s relations with the International Olympic Committee (IOC) and World Boxing. The IBA will stage its next amateur world championships with a prize fund of 20 million US dollars, with each gold medallist receiving one million dollars, the IBA president announced. “The main tournament for the IBA is the world championships. As you will remember, the world championships in Dubai had a prize fund of 8 million US dollars. At the next world championships, we will have a prize fund of 20 million US dollars. The boxer who takes first place will receive one million dollars,” Kremlev said. “Everything the International Boxing Association earns belongs to the coaches and athletes, because it is thanks to them that our international boxing home exists. We must do everything to ensure the best conditions are created for our athletes,” he said.