AIBA, the embattled organization that oversees international amateur boxing, is mulling a name change after losing out on the opportunity to organize the boxing tournament for the upcoming Tokyo Olympics.
“There is a wish to reform, and a change of the name is also a part of reform,” Mohamed Moustahsane, AIBA’s interim president, said in a statement to the Associated Press. “It will be discussed at the next (executive committee) meeting to be presented at the Congress in March.”
The International Olympic Committee suspended AIBA in June 2019 for issues related to debt and governance and assumed the reins for overseeing the boxing competition of the 2020 Tokyo Olympics.
AIBA is reportedly at least $16 million in debt. AIBA’s last president Gafur Rakhimov, who has had alleged links to organized crime and drug trafficking, stepped down last July amid an IOC investigation. The U.S. Treasury Department accused Rakhimov of being “one of Uzbekistan’s leading criminals,” according to the Associated Press.
Moustahsane, who was voted in as interim president last March, noted to AP that he is working with AIBA’s creditors.
“It’s a heavy heritage, but I am confident that the creditors are fully aware of AIBA’s financial situation,” he said. “Chinese and Azerbaijani companies are our main creditors, the good thing is these countries are deeply involved in the sport, especially in boxing. I am sure that we will reach an agreement for the best interest of the sport.”
The boxing competition at the Tokyo Games begins July 25 and runs through Aug. 9.