The International Boxing Association (AIBA) president Mohamed Moustahsane has reportedly said the recognition of Boxing Federation of India (BFI) will be revoked for not dishonouring contracts and non-payment of dues. Also Read - AIBA Alleges Boxing Federation of India Yet to Pay Hosting Fee For 2018 World Championships

Last month, AIBA took away the hosting rights for the 2021 Men’s boxing world championships from BFI after claiming that the Indian body didn’t pay host city fee. Also Read - India to Host Asian Boxing C'ship in Nov-Dec This Year, BFI Confident of COVID-19 Storm Passing

It also alleged that the BFI hasn’t yet paid “almost two thirds” of the host city fee for the 2018 women’s world championships as well. Also Read - Fearing Coronavirus Repercussion, Indian Boxers to Reach Jordan for Asia-Olympic Qualifier Early

Now Moustahsane has publicly revealed the details of the dues involved.

“The total contract amount agreed between the AIBA and BFI for the men’s Worlds was $40,00,000 (Rs 30 crore) and the first instalment — or half of the bidding fee amount of $20,00,000 — was agreed to be paid by the BFI by December 1, 2019,” Moustahsane told The Times of India.

He continued, “When the BFI didn’t pay $20,00,000 on the promised date despite several mails and reminders from the AIBA, we (AIBA) chose to exercise our right to impose a $500,000 penalty, which was part of the original contract, on the BFI for dishonouring the contract. So, now they will have to pay the penalty. In the meantime, the AIBA has also started the process of identifying a new host city for the men’s Worlds before accepting the hosting bid from the Serbian boxing federation in April.”

After AIBA’s awarded the hosting rights for the 2021 championships to Belgrade (Serbia), BFI claimed the global body acted in haste.