Cash-strapped British ABA pull out of boxing's world series

The British Amateur Boxing Association will not be taking up the offer of a London franchise in the revolutionary new World Series tournament due to be launched later this year. I understand that a decision has been taken to pull out largely for financial reasons following the disappointing pre-Olympics shortfall in funding from UK Sport. The tournament, backed by AIBA, the sport's international governing body, had required a non-refundable £66,000 deposit by Christmas and BABA feel they cannot afford this in the current economic climate and that entering the series would be too great a financial risk.

[readon1 url="https://www.independent.co.uk/sport/general/others/inside-lines-exclusive-cashstrapped-british-aba-pull-out-of-boxings-world-series-1856085.html"]Source: independant.co.uk[/readon1]