(ATR) C.K. Wu will serve as president of AIBA, the International Boxing Federation, until 2018.
The IOC member from Chinese Taipei was elected to a third term on Friday at the AIBA Congress in Jeju, South Korea.
Needing only 20 nominations from member federations to run for president, Wu received 98.
Wu was first elected head of AIBA in 2007. He came in at a time when boxing was threatened with expulsion from the Olympic Movement. Wu’s predecessor was mired in allegations of corruption and mismanagement.
Since his first election, Wu has launched an ambitious overhaul of the sport including the creation of two professional boxing competitions.
The impact of Wu was acknowledged by Charles Butler, AIBA’s medical commission chairman. Before beginning his update on Thursday, Butler profusely thanked Wu for "saving Olympic boxing."
All six of AIBA’s vice presidents were also elected without opposition on Friday.
2014, 2015-18 Financials
AIBA said on Friday it had $7.9 million in revenue for 2014. Of that figure, $3.9 million came from the IOC.
Over the past four years, AIBA had total expenditures of $21.7 million.
The federation said its World Series of Boxing property was able to begin repaying its surplus profit to AIBA in its third season.
Total revenue for the next four years, AIBA predicted, would be $57 million. A total of $19 million is guaranteed from the IOC during that time period.
200 AIBA Members Possible
The Federated States of Micronesia, India, and Kosovo were approved as AIBA members, bringing the number of national federations to 197.
Malta had its membership rejected for violating several AIBA rules including staging an elite-level boxing match with headguards and having professional coaches in boxers’ corners. That reduced the number of national federations to 196.
AIBA said it is in discussions to create federations in Guam, Libya, Palau and Sao Tome and Principe.
Written by Ed Hula III.
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