World Boxing Championships 2023: Tashkent Selected As Host

The marquee event, which will be held at the Uzbek capital from May 1 to 14 next year, will see the prize money double from the previous edition.

"For the first time in history, we will have a record prize money fund, USD 5.2 million. For the first place, the award is USD 200,000, for the second place USD 100,000, and for each bronze medalist USD 50,000 USD," Kremlev said in a press conference.

In a major blow for the sport, boxing has been left out of the initial list for the 2028 Olympics in Los Angeles.

Kremlev feels if the sport is left out from the LA Games, the boxing community will not remain silent.?

"We are increasing our numbers, there are millions who love boxing. More than one billion people love boxing. In my opinion, nobody will be silent if they try to exclude boxing from the Olympics," he said.

"As a boxing community and organisation, we will do everything possible in our power to keep boxing in the Olympics," he added Reigning world champion Nikhat Zareen, who was also present at the press conference, shared her life experience and lent her support.

"IBA is my home. As an athlete, I feel safe here, in my boxing family. I am grateful to IBA for the prize money I received for this victory. I am going to buy a house in Hyderabad with it," said Zareen.