(ATR) The International Boxing Association has cancelled Moscow as the site for the 2007 World Championships.

A March 9 letter sent to the member federations of AIBA informed them of the development. Russian media first reported the cancellation Sunday.

Failure of Moscow organizers to come to terms with AIBA over a $1.5 million letter of credit is the primary reason for the city being dropped.

Moscow was chosen as the 2007 host at a Feb. 9 meeting of the AIBA executive committee, subject to the letter of credit being completed by a deadline last month that was extended by one week.

It was actually the second time for Moscow to be selected for the 2007 world championships. Without submitting a formal bid, Moscow was first chose last July by former AIBA president Anwar Chowdhry. Other cities which had prepared bids were not given consideration.

But shortly after his election in November as the new president of AIBA, C.K. Wu learned that there was no contract, agreement, or other written documentation as to what Moscow was to provide for the event, scheduled from Sept. 15 to 30.

Lacking such details, Wu reopened the bidding at last month’s meeting of the AIBA EC. Moscow, as well as Jeju, South Korea made presentations to the boxing leadership, which in the end re-affirmed Moscow as the host.

Along with a pledge to provide a letter of credit, Eduard Khusainov, president of the Russian B

AIBA President C.K. Wu. (ATR)

While government leaders in Russia, such as Moscow Mayor Yuri Luzhkov, have sent letters expressing their willingness to support the world championships, AIBA apparently has not received the ironclad letter of credit called for in the agreement signed with Khusainov in February.

The agreement noted that Jeju would get the championships if Moscow could not deliver on finances, but AIBA could also re-open the bidding to other cities.

There was no immediate reaction from Russian officials to the AIBA decision.

Given Moscow’s record at holding important world championships, such as figure skating in 2005 and ice hockey this May, arranging details for the boxing championships would appear to have been routine for the city and sports officials.

For AIBA, proper staging of the tournament will be another test of the new leadership of C.K. Wu, who is trying to reform the federation after the 24-year reign of Chowdhry.

For the world’s amateur boxers, the 2007 tournament is important to their careers, as it will be a qualifier for the 2008 Olympics in Beijing.

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