The WSB (pictured top), which is owned by the International Boxing Association (AIBA), is currently the only professional boxing competition in the world that allows fighters to retain their Olympic eligibility.

The first two WSB seasons saw city franchises in place but season three will see revolutionary changes made so that there will be national franchises, such as Ukraine, in a move designed to spread the global appeal of the event.

The Ukraine agreement was signed by AIBA President and WSB chairman CK Wu as well as the Ukrainian Boxing Federation (FBU) President Vladimir Prodyvus (pictured below).

"Ukraine is one of the world's true boxing powerhouses and we are absolutely thrilled to welcome their franchise to the World Series of Boxing," said Wu.

"I am convinced that this is only the very first step of the involvement of the Ukrainian Boxing Federation in AIBA's projects, especially with the AIBA Professional Boxing (APB) that begins in the fall of 2013.

"We look forward to working closely together."


The move is a major boost for sport in Ukraine after it received widespread plaudits for co-hosting the recent UEFA 2012 European Championships.

Ukraine's Sports Minister Ravil Safiullin admitted he was delighted to see Ukraine involved in the WSB and said the move illustrated its growing presence on the international sporting scene.

"With Euro 2012, we showed the world that Ukraine is more than capable of hosting big sporting events," he said.

"Our country needs to carry in this way and we very much look forward to welcoming APB and AIBA competitions here soon."

The move could also help Ukraine in its plans to host the 2022 Winter Olympics, which it is currently considering bidding for.

Ukraine follows Argentina in becoming one of the new teams to sign up for the WSB after the South Americans joined in May.

Bulgaria is also set to join in the near future and AIBA remains hopeful that there could still be a Great Britain franchise for season three.

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