Under this deal, out of AIBA’s total debt of $10 million, $2 million would be returned to Benkons via sponsorship, an agreement approved by AIBA’s ruling body in July. In his progress report, Rahimov said that in July, AIBA and Benkons signed a 'settlement agreement' that allowed the federation to avoid bankruptcy. Last month, AIBA’s executive director Tom Virgets admitted to ATR that the federation was taking 'a lot more time to make the changes' regarding financial reforms but it 'significantly reduced' its liabilities. On Wednesday, Rahimov said he was 'very proud' to report on the IOC’s acknowledgement of AIBA’s progress in restructuring the federation. Rahimov has never faced charges and is said to be taking various steps to clear his name. But the IOC remains concerned about the Uzbek-born Russian businessman’s alleged links to organized crime in Russia.

Wu as president on a permanent basis – and Around the Rings understands he has significant support in the federation to secure the role. Rahimov is a leading contender to replace C.K. The IOC’s suspension of payments to the federation still remains in place. Threatened with the axe from the Tokyo Games earlier this year, Bach said boxing’s inclusion in the 2020 Olympics would 'greatly depend' on the outcomes of the AIBA congress in November where member federations will elect a new president and vote on reforms. Last month, the IOC president Thomas Bach told reporters after a three-day executive board meeting that AIBA was not making enough progress, pointing to unresolved concerns around financial issues, good governance measures and the upcoming elections. The federation’s interim president issued a progress report on Wednesday informing its member federations that AIBA is implementing initiatives and policies on governance and ethics to meet demands from the IOC. (ATR) Gafur Rahimov says AIBA is 'working tirelessly to bring positive change' amid the threat of expulsion from the Tokyo Olympics hanging over the sport.

Ethiopian boxing federation