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ALI BABA OFFER TO BUY MAJORITY SHAREHOLDING IN AIBA

PAGE 2 - CONTINUED FROM PAGE 1.

  AIBA has stated the former Executive Director Mr. HO Kim was solely responsible for the attempt by AIBA to take over professional boxing and the Swiss Company, World Series Boxing (WSB) was formed to administrate the takeover of professional boxing.

Despite the people behind WSB having no experience of administrating pro’ boxing, the IOC agreed to allow pro’ boxers registered with WSB to enter the Rio Olympic Games.

 There are mistakes and there are disasters; this decision was high on the list of disasters. In the Rio Olympics only three professional boxers entered. The lead entry was a 37-year old flyweight champion boxer who weighed-in for the Olympics at lightweight.

Dumb and Dumber could not have beaten this clownish behaviour.

Amid a hail storm of claim and counter claims, AIBA has officially declared the former Executive Director Ho Kim was solely responsible for the operations of World Series Boxing,

It is/was an ambition based on a rickety foundation made of straw to establish a new global tournament between competing franchises – in America, and that Mr. Hom, who found it is said, “Found the Azeri investor and enjoyed wide authority and discretion in the negotiations related to the loan/investment and implementation of the deal.”

It has been said AIBA plans to take legal action against Nr. H Kim in Switzerland, where the AIBA headquarters are based, but so far there have been ‘only threats – no legal actions. Is this anther ‘play it again’ charade?

According to a legal opinion, there appears to be no clarity on the reasons Mr. Kim could be sued?

It further appears this former senior AIBA official who denies any wrongdoing, has now told the Guardian Mr. C K Wu, the controversial President of AIBA; World Boxing Federation and who is also an IOC Executive Board Member, was intimately involved in signing the deal.

Surely, his tenure as an IOC Executive Board Member must be in doubt?

Mr. Kim has further told The Guardian: “A long story to be short, yes, [the AIBA] President went to Baku for the final negotiation to sign the investment agreement. After this visit the agreement was signed with the Azeri company based in Switzerland.”

"However, later Azerbaijan could not do this way and changed the agreement by investing directly from Azerbaijan – we had to sign the agreement again. Yes, [the AIBA] President was involved [in] all negotiations and progresses from the start to the end of this deal.”

Documentation said to have been seen by The Guardian, included a letter from Dr Wu to the Azerbaijan Minister of Emergency situations, Kamaladdin Heydarov, in August 2011, appear to satisfy The Guardian to support the claim that the [AIBA] President was closely involved in negotiating the loan. In the letter, in which Dr Wu appears to mention meeting the Minister (who is also head of the Azerbaijan boxing federation) in Baku the previous month, he asks Mr. Heydarov to finalise the payment as soon as he able to do so.

The details contained in the letter appear, in addition, to raise questions over the conclusions of AIBA’s own internal review, which was concluded in December 2011, in which it was claimed the loan came from a private sector investor. In a statement to the Guardian, AIBA again insisted it was Mr. Kim who was chiefly responsible for negotiating the loan and how it was to be spent.

“We confirm that Ho Kim found the investor and enjoyed wide disc

 

The recent bizarre revelations on AIBA (Amateur International Association) President C K Wu and former Executive Director Ho Kim, once the closest of friends, have accused each other of the most serious unacceptable behaviour with regard to a ‘loan’ by an Azeri major Company of US$10 million.

This loan was declared by the BBC Newsnight team as being a corrupt payment for two Gold Medals to guarantee two Gold Medal are ‘won’ by Azeri boxers. AIBA denied the Newsnight claim but took no legal action against the BBC, despite a public threat to do so,

Is AIBA salvageable and capable of regaining the support of the rank and file members of the World wide amateur boxing clubs and people? The BoxingAction answer is NO!

It appears the continuous flow of reports of scandal within in AIBA continues to flow and, surely, the point of no return has been reached – and passed.

AIBA has stated the former Executive Director Mr. HO Kim was solely responsible for the attempt by AIBA to take over professional boxing and the Swiss Company, World Series Boxing (WSB) was formed to administrate the takeover of professional boxing. Despite the people behind WSB having no experience of administrating pro’ boxing, the IOC agreed to allow pro’ boxers registered with WSB to enter the Rio Olympic Games.

There are mistakes and there are disasters; this decision was high on the list of disasters. In the Rio Olympics only three professional boxers entered. The lead entry was a 37-year old flyweight champion boxer who weighed-in for the Olympics at lightweight.

Dumb and Dumber could not have beaten this clownish behaviour


AAIBA_Logomid a ha il storm of claim and counter claims, AIBA has officially declared the  former Executive Director Ho Kim was solely responsible for the operations of World Series Boxing,It is/was an ambition based on a rickety foundation made of straw to establish a new global tournament between competing franchises – in America, and that Mr. Hom, who found it is said, “Found the Azeri investor and enjoyed wide authority and discretion in the negotiations related to the loan/investment and implementation of the deal.

”It has been said AIBA plans to take legal action against Mr. H Kim in Switzerland, where the AIBA headquarters are based, but so far there have been ‘only threats – no legal actions. Is this anther ‘play it again’ charade?According to a legal opinion, there appears to be no clarity on the reasons Mr. Kim could be sued?

It further appears this former senior AIBA official who denies any wrongdoing, has now told the Guardian Mr. C K Wu, the controversial President of AIBA; World Boxing Federation and who is also an IOC Executive Board Member, was intimately involved in signing the deal.Surely, his tenure as an IOC Executive Board Member must be in doubt?

Mr. Kim has further told The Guardian: “A long story to be short, yes, [the AIBA] President went to Baku for the final negotiation to sign the investment agreement. After this visit the agreement was signed with the Azeri company based in Switzerland.”

“However, later Azerbaijan could not do this way and changed the agreement by investing directly from Azerbaijan – we had to sign the agreement again. Yes, [the AIBA] President was involved [in] all negotiations and progresses from the start to the end of this deal.”

Documentation said to have been seen by The Guardian, included a letter from Dr. Wu to the Azerbaijan Minister of Emergency situations, Kamaladdin Heydarov, in August 2011, appear to satisfy The Guardian to support the claim that the [AIBA] President was closely involved in negotiating the loan. In the letter, in which Dr Wu appears to mention meeting the Minister (who is also head of the Azerbaijan boxing federation) in Baku the previous month, he asks Mr. Heydarov to finalise the payment as soon as he able to do so.

The details contained in the letter appear, in addition, to raise questions over the conclusions of AIBA’s own internal review, which was concluded in December 2011, in which it was claimed the loan came from a private sector investor. In a statement to the Guardian, AIBA again insisted it was Mr. Kim who was chiefly responsible for negotiating the loan and how it was to be spent.

“We confirm that Ho Kim found the investor and enjoyed wide discretion in the negotiation and in the implementation of the transaction. Significantly Mr Kim signed alone the first Memorandum of Understanding that eventually led to the loan,” said a spokesman.

PART 1

WHEN BOXINGACTION WAS ADVISED ALI BABA THE CHINESE GIANT DIRECT SALES COMPANY HAD PURCHASED A MAJORITY SHAREHOLDING IN AMATEUR INTERNATIONAL BOXNG ASSOCIATION (AIBA, ) TH ADMINISTRATOR FOR WORLD AMATEUR BOXING, IT APPEARED  TO BE TOO FAR FETCHED, EVEN FOR AIBA, AND WE DECIDED IT HAD TO BE FURTHER INVESTIGATED BEFORE REVEALING THE DETAILS.

THEN CAME CONFIRMATION WHEN ASTONISHING REVELATIONS BY THE RESPECTED THE GUARDIAN NATIONAL NEWSPAPER STATED AIBA IS EAGER TO CONCLUDE A DEAL, WHICH WILL GIVE ALISPORTS, A DIVISION OF THE CHINESE GIANT ALIBABA, A DOMINATING MAJORITY SHAREHOLDING, SAID TO BE 67%, IN WORLD AMATEUR BOXINGNegotiations over the Chinese deal are believed to be close to a conclusion.

the responsble To be beaten to the punch by The Guardian was no problem for BoxingAction.

 

The Guardian quotes: “In response to questions froThe Guardian, AIBA insisted the deal – which it is understood will give Airports a 67% stake in a new 100-year joint venture in return for an up-front investment of around 110m Swiss francs ($109m) – was purely a commercial one and had nothing to do with repaying outstanding loans. “The two entities are close to reaching a final agreement.

"Details will be announced shortly,” a spokesman said. “This agreement has nothing to do with the repayment of the said loan you mention. It is a long-term partnership which will benefit our sport and its boxers. The joint venture with Alisports will focus essentially on the commercial and marketing rights of boxing. The governance of boxing remains under the attributes of AAIBA.”

These details are grossly under represented by the description of ‘ASTONISHING.’

THE GUARDIAN SUGGESTS THE DEAL IS PARTLY DUE TO THE URGENCY OF SEEKING MONEYTO REPAY THE VARIOUS LOANS OF AIBA, AND IS PART OF AN ATTEMPT BY AIBA PRESIDENT Dr. WU TO ENTRENCH HIS POWERBASE BEFORE A SPECIAL CONGRESS, WHICH HE HAS CALLED AND IS SCHEDULED TO TAKE PLACE NEXT MONTH.

AIBA DNIES THE PROCEEDS FROM THE CHINESE DEAL WILL BE USED TO REPAY THE AZERBAIJAN LOAN OF US $10 MILLION.

FOR EVEN THE MERCURIAL AIBA THE LEADING WORLD AMATEUR BOXING ADMINISTRATION TO BE ACCUSED OF OFFERING TO SELL PART OF ITS ASSETS TO ONE OF THE LARGEST RETAIL DIRECT SELLING COMPANIES IN THE WORLD, ALI BABA IS WITHOUT PRECEDENCE AND MUST NOT BE ALLOWED TO HAPPEN!

Amateur boxing is not a retail business configuration but it is a most serious community asset that offers a serious role as the legitimate alternative to street gangs committing murder and other most serious crimes including drug dealing by younger members of society. 

The depth of turmoil, corruption allegations and counter allegations by the most senior officials of AIBA are so serious the question have to be asked, in capital letters: IS AIBA FIT FOR PURPOSE TO ADMINISTRATE A WORLD SPORT, WHICH IS HIGHLY POPULATED BY GENERATIONS OF YOUTH MEMBERS?

Based upon the evidence available BoxingAction has no doubt IAIBA  is not!

 

TThe latest bombshell to explode within AIBA according to, The Guardian is there is haste by AIBA to conclude a wide-ranging, 100-YEAR commercial deal with “Wu’s current term as president runs out in 2018. Some insiders believe he is looking for ways to extend that tenure, others that he will give the new Chinese investors greater influence. Some in the boxing world fear that the Chinese firm will be given unprecedented influence over the future of the sport.

The Guardian states: “In response to questions from The Guardian, AIBA insisted the deal – which it is understood will give AliSports a 67% stake in a new 100-year joint venture in return for an up-front investment of around 110m Swiss francs ($109m) – was purely a commercial one and had nothing to do with repaying outstanding loans.

It appears, according to The Guardian “The two entities are close to reaching a final agreement. Details will be announced shortly,” a spokesman said. “This agreement has nothing to do with the repayment of the said loan you, [The Guardian] mention. It is a long-term partnership which will benefit our sport and its boxers. The Joint Venture with Alisports will focus essentially on the commercial and marketing rights of boxing. The governance of boxing remains under the attributes of AIBA.”

When the BBC Newsnight revealed their investigation that the ‘loan’ by the Azeri Company was a bribe, understandably, AIBA sought legal advice from a major UK law firm specialising in defamation.

Based upon their instructions detailed in the brief from their client, AIBA the said law firm issued a notice the BBC accusations were without fact and unless an apology was made by the BBC legal action would follow,

The BBC lawyers were satisfied the accusations made by the BBC were supported by factual evidence. No apology was forthcoming from the BBC.

No legal proceedings were issued by AIBA. The question why were the legal proceedings not issued has never been publicly explained by AIBA.

THE ALLEGED ACCUSATIONS ARE OF THE MOST SERIOUS NATURE ARE ACCORDING TO STATEMENTS BY THE MOST SENIOR OFFICALS INCLUDING AIBA PRESIDENT C K WU AND FORMER EXECUTIVE DIRECTOR HO KIM, HAVE BEEN RELEASED INTO THE PUBLIC DOMAIN AND RECENT DISCLOSURES BY THE RELIABLE THE GUARDIAN’ NEWSPAPER ARE ABSOLUTELY ASTONISHING.

 C K WO and HO KIM.

PRESENTLY A HAILSTORM OF ACCUSATIONS, CLAIMS AND COUNTER CLAIMS SWIRL LIKE A TYPHOON WITHIN AIBA AND AS WITH ALL DISASTERS SERIOUS DAMAGE HAS BEEN CAUSED TO WORLD AMATEUR BOXING'

THE SEROUS FEARS ARE UNLESS WORLD AMATEUR BOXING IS CORRECTLY MANAGED, THS VALUABLE SPORT FOR COMMUNTIES WORLDWIDE COULD BECOME ISOLATED AND BE LOST IN DESPAIR.

This must not be allowed to happen but it is likely to happen if if AIBA is allowed to continue to administrate World

AIBA-WSB LOGOThe recent bizarre revelations on AIBA (Amateur International Association) President C K Wu and former Executive Director Ho Kim, once the closest of friends, have accused each other of the most serious unacceptable behaviour with regard to a ‘loan’ by an Azeri major Company of US$10 million. This loan was declared by the BBC Newsnight team as being a corrupt payment for two Gold Medals to guarantee two Gold Medal are ‘won’ by Azeri boxers. AIBA denied the Newsnight claim but took no legal action against the BBC, despite a public threat to do so.

The two Gold Medals were not delivered

All 36 officiaals,  eferee's and ring. This is unprecedeted side judges, operating at the Rio Olympic Games have been  suspended due to the outcries of wrongful decisions. This is unprecedented.

Is AIBA salvageable and capable of regaining the support of the rank and file members of the World wide amateur boxing clubs and people? The BoxingAction answer is NO!

The two Gold Medals were not delivereD.

Amateur boxng deserves a top quality administration as professional as the WBC administrates pro' boxing. With this quality of authority amateur sport will grow healthy and strong...

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