The International Boxing Association (IBA) declared the Italian boxer Angela Carini as the Olympic champion despite being defeated by Algerian Imane Khelif in just 46 seconds of the first round game at the Paris Olympics.
President IBA Umar Kremlev has announced that the governing body will give Carini the fixed prize money for the gold medalist.
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The IBA allocated $3.1 million in prize money for the 100 medalists of the May Olympics boxing event. The gold medal has a prize of $100,000, of which $50,000 will be given to the player, $25,000 to the coach, and $25,000 to the federation.
