$5 million fee for amateur boxing teams to contest World Series 24/04/2009 |
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Teams must pay a minimum of $5 million to acquire a 10-year franchise to compete in the new World Series, amateur boxing's ruling body said on Thursday.
The International Boxing Association (AIBA) said five weight categories (bantam, light, middle, light-heavy and heavy) would be included in the series to be launched in September 2010.
The AIBA is bidding to spice up the amateur game, finding new audiences and funding by making it look more like a team sport through the World Boxing Series (WSB).
"Boxing has great potential in this part of the world and we see India as a major franchisee and huge base for growing great talent," AIBA sports director and WSB chief executive Ivan Khodabaksh told a media presentation.
India, home to a multi-million dollar franchise cricket league, is hoping to tap into boxing's popularity since middleweight Vijender Kumar won bronze in Beijing last year, the country's first Olympic medal in the sport.
With professional boxing splintered by an array of different governing bodies and weight classes, the amateur version hopes the WSB can draw disaffected fans.
The series will comprise four city-based teams apiece from Europe, Asia and the Americas, with boxers still able to participate in the Olympics as well.
The boxers, who will not wear headgear or vests unlike traditional amateur bouts, will clash in five, three-minute rounds.
The regular season is due to end in December 2010, to be followed by playoffs that start in January 2011.
REGIONAL RIVALS
Each team will face their regional rivals four times on a home and away basis, amounting to 12 matches, in the regular season. A match will consist of one bout in each of the five weight classes.
The three regional winners and the best finisher among the other nine teams then meet in the playoffs to find the overall champions.
Individual championships for each weight class will also be held after the playoffs.
A team can have up to 20 boxers, including reserves, with at least three foreigners. Franchises are expected to be in place by June.
WSB boxers, who can be transferred from one team to another, are expected to receive between $30,000-$300,000 per season.
(Source: Reuters)
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