LAUSANNE, Switzerland (AP) — The IOC stripped Olympic status from troubled boxing body AIBA on Wednesday and will now organize qualifying and final tournaments for the 2020 Tokyo Games.
AIBA had created “very serious reputational, legal and financial risks” for the IOC and its American stakeholders, Olympic inquiry panel chairman Nenad Lalovic said.
The election of AIBA president Gafur Rakhimov, who is under United States federal sanctions for suspected links to eastern European organized crime, prodded the IOC last year to investigate boxing’s governance, debts and integrity of Olympic bouts.
International Olympic Committee members voted to endorse the executive board’s recommendation last month to suspend AIBA’s Olympic status.
Lausanne-based AIBA has said it is near bankruptcy with debts of about $17…