Boxing Fed To Repay

USA Boxing and the U.S. Olympic Committee reached agreement on the repayment of $1.3 million in misused Olympic grants after the federation’s board approved a take-it-or-leave-it offer made by the USOC last weekend.

If the federation had to repay the whole amount at once, it would take a deep bite out its $2.8 million annual budget or force it to dip into some $2 million in a long-term foundation account.

A USOC audit, which began after the federation said it suspected some irregularities, found a total of $3.18 million in grants that it labeled questionable.