India loses hosting rights of 2021 men's world boxing championships over non-payment of host fee

India on Tuesday lost the hosting rights of the 2021 men's world boxing championship to Serbia after the International Boxing association alleged non-payment of host fee by the national federation, which claimed that AIBA "acted in haste".

The Boxing Federation of India acknowledged the delay but blamed it on "procedural complications" arising out of the AIBA's failure to resolve "issues" with regards to the account in which the money was to be transferred.

The payment of what is estimated to be USD 4 million was due to be made on December 2 last year.

"After New Delhi didn't fulfill its obligations to pay host fee as mentioned in the Host



City Agreement terms, AIBA has terminated the contract. Therefore, India would have to pay a cancellation penalty of USD 500," the AIBA said in a statement.

The elite competition, which would have happened for the first time in the country, will now be held in the Serbian city of Belgrade.

"Serbia has everything to organize a great event for athletes, coaches, officials, and, of course, for our boxing fans," AIBA Interim President Mohamed Moustahsane stated.

The Boxing Federation of India (BFI) is headed by Ajay Singh, who also owns Spicejet Airlines. AIBA has been suspended by the International Olympic Committee (IOC) for financial mismanagement.