TURMOIL has wracked the leadership of AIBA, the governing body for Olympic boxing, as president Dr. Ching-Kuo Wu resists calls to step down.
An AIBA Executive Committee meeting was held from July 24-25 in Moscow, where reportedly a no confidence vote in the president was held. The Guardian reports that 13 executive committee members voted to pass a motion of no confidence in Dr. Wu (with two abstentions).
The dispute has erupted after claims of financial mismanagement are rumoured to threaten the organisation with bankruptcy. Hong Kong based entity FCIT are disputing a substantial investment in the organisation’s beleaguered Boxing Marketing Arm, while AIBA must also address the repayment of a $10 million loan from Azeri company Benkons.