AIBA Marketing Commission chair Umar Kremlev, left, claimed the organisation is in the process of restructuring its debts ©RBF

International Boxing Association (AIBA) Marketing Commission chair Umar Kremlev has claimed the organisation is in the process of restructuring its debts at the second All-Russian Boxing Forum in Kaliningrad.

AIBA is around $16 million (£12 million/€14 million) in debt following years of turmoil, with their financial situation one of the reasons the International Olympic Committee (IOC) suspended recognition of the organisation. 

Kremlev, also the secretary general of the the Russian Boxing Federation, claimed this debt is now being restructured, as reported by official Russia's official state news agency TASS. 

"AIBA started discussing real problems," he said.

"Now the charter is being changed, reforms are being prepared. 

"Debts are almost closed, debt is being restructured, we have already negotiated with all parties. 

"Bankruptcy is not being discussed."

AIBA Interim President Mohamed Moustahsane also recently told insidethegames his organisation had taken steps towards repairing its financial situation by cutting costs, seeking sponsors and discussing potential solutions with its creditors.

Kremlev had previously offered to completely write off the organisation's debts if AIBA regained control of boxing at Tokyo 2020, a proposal which was rejected by the IOC.

AIBA's debt was one issue of many discussed at the Forum, attended by around 500 delegates.

The inaugural event in Anapa in 2019 inspired Kremlev to organise a Global Boxing Forum for athletes and coaches and a series of Continental Forums for National Federations.






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В рамках второго дня Всероссийского боксёрского форума в Калиниграде представители регионов обсудили планы и задачи на 2020 год, а также пообщались на круглых столах и профильных семинарах. Кроме того, сегодня состоялось заседание исполнительного комитета Федерации бокса России. Программа второго дня форума: ? Заседание женской комиссии ? Совещание руководителей Федерации бокса России с представителями федерации СКФО ? Круглый стол Совета ветеранов бокса ? Медицинский семинар ? Семинар о повышении тренерских квалификациий ? Совещание дирекций Федераций бокса в федеральных округах ? Семинар о продвижении спортивных мероприятий в социальных сетях #бокс #Россия #боксобъединяет

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It is hoped the Forums will create internal dialogue and help solve AIBA's multiple problems, increasing the likelihood of IOC reinstatement. 

"It's nice to take part in such joint boxing events," said Moustahsane. 

"Now we see how the Continental Forums began. 

"Umar Kremlev initiated this event in Russia and shared his experience for the entire boxing family. 

"I would like all members of the association to succeed in internal communications as well. 

"Based on this, we will create a powerful foundation for our organisation that will help us move forward.

"AIBA are a family and we must build a bright future for AIBA together."

State Duma deputy and former World Boxing Association heavyweight world champion Nikolai Valuev was also present at the Forum and emphasised its importance.

"The Forum was visited by well-known boxers, and coaches, and promoters," he said. 

"I really hope that we will not run out of steam, and such Forums will continue to be held."