The International Olympic Committee on Wednesday officially took over the boxing qualification and competition for next year’s Tokyo 2020 Olympics and suspended international boxing federation AIBA following a vote at its session.
The IOC voted unanimously to implement a recommendation of its executive board to oust AIBA from the Tokyo 2020 Games over issues surrounding its finances and governance and suspend the body until the issues are resolved.
AIBA has been in turmoil over its finances and governance for years with the federation $16 million in debt and an ongoing bitter battle over the presidency that has split the body internally.
Serbian IOC member Nenad Lalovic, who heads an IOC task force to look into the ties with AIBA, earlier on Wednesday delivered a damning report to the IOC session, saying the association could reach a debt of as much as $29m (£22.8m)
He also said AIBA had failed to reform at the top of the organisation.