No choice other than to terminate India's contract: AIBA

Lausanne [Switzerland], April 30 (ANI): The International Boxing Association (AIBA) on Thursday clarified that the body had no choice other than to terminate India's contract after the desperate attempts were made to pay the host fees as mentioned in the Host City Agreement.
AIBA issued a statement after the Boxing Federation of India (BFI) on Tuesday said that the decision was taken 'in haste'. AIBA on Tuesday announced Belgrade as a host city of 2021 AIBA Men's World Boxing Championships.
"In 2017, the tournament was awarded to India, and a Host City Agreement was signed in January 2019. As per this agreement, half of the host fees were due and payable on 1 December 2019. But as New Delhi did not fulfil its obligations to pay the host fee as mentioned in the Host City Agreement, despite numerous reminders by AIBA and after having been offered multiple options to settle their obligations, AIBA had no choice but to terminate the contract in April 2020," read AIBA statement.
"The decision by AIBA was also prompted by the fact that almost two-thirds of the Host Fee due by BFI for having hosted the 2018 AIBA Women's World Boxing Championships remains outstanding to date, more than 18 months after the event. This host fees should have been paid by BFI in summer 2018. AIBA showed a lot of patience and comprehension, agreeing on numerous successive repayment plans, which were never respected by BFI," it added.
On Tuesday, the BFI claimed that they were not consulted and accused AIBA of not assisting them during the bank operation linked to Serbia.
"The WCH-2021 was allotted to BFI and the host city agreement was signed. Subsequently, the AIBA account in Lausanne was frozen," a statement issued by the BFI read."
AIBA intended to have some previous payments through an account in Serbia. As Serbia is in the Gray List of FATF (Financial Action Task Force) countries, Indian Banks do not normally send money to Serbia. AIBA could not resolve these issues. The account of AIBA in Switzerland as mentioned in Host City Agreement is still inoperative," it added.
"While the payment of the first instalment of host fee was to be paid by December 01, 2019, AIBA invited fresh bids on December 01, 2019 itself. Therefore, we have reasons to believe that the decision to change the venue of WCH-2021 was taken in haste without due consultation with BFI," the statement further read.
BFI president Ajay Singh had said that he had a word with AIBA Interim President, Dr Mohamed Mustahsane and both bodies are working for a mutual solution. The apex body also said that it is confident that the cancellation penalty will be waived off.
"We are in touch with AIBA and BFI president Ajay Singh has spoken with AIBA Interim President, Dr Mohamed Mustahsane a while back and both parties are working for an amicable solution," the statement read.
AIBA also disputes the reasons given by BFI for not paying their dues to AIBA. Since June 2019, Serbia is no longer on the grey list of the Financial Action Task Force; BFI managed to make some payments to AIBA in the course of winter 2020. (ANI)