"UK Sport, the British Amateur Boxing Association (BABA) and the Home Nation National Governing Bodies are pleased to be able to confirm that, following successful dialogue over the past week on the governance of BABA, and in particular the composition of their Board, an agreement with BABA has been reached which satisfies UK Sport and provides sufficient comfort that going forward BABA will be able and is committed to governing boxing’s World Class Programme effectively to support the drive for further Olympic success in Rio.
"Therefore UK Sport will not be activating proposed plans to channel World Class Performance Programme funds for GB Boxing through an alternative Special Purpose Vehicle (SPV) at this stage although we will be taking steps to register an SPV should matters around BABA’s governance deteriorate again at any point or plans for the required changes do not progress as agreed.
"This means that BABA will continue to lead GB boxers in preparation for international competitions, and particularly the next Olympics in Rio in 2016, and UK Sport will now lead on the recruitment of a new independent Chair. UK Sport will review its investment again at the normal annual review point in December, as with all Olympic and Paralympic sports.
"The priority of both UK Sport and BABA has been to protect the boxers, who have been focused on winning medals at the European Championships and showing great promise for Rio, and their coaches and support staff who are doing an excellent job at the front line. We are pleased to have come to this conclusion with minimal disruption to their programme.
"Acceptance of these changes is only the first step, albeit a significant one, in starting to rebuild the confidence of UK Sport in how the sport is currently being governed. Should these issues resurface in the future, UK Sport will not hesitate in renewing its plans to channel its funding through an SPV, in the best interests of the athletes and World Class Programme."
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