2009 was not the most auspicious of years for amateur boxing, as I am sure the sport would be the first to admit. Not quite, as Her Maj might decree, an annus horribilis, but things did not go too well, particularly on the fiscal front. Boxing may have found itself backed up against the ropes but in the best traditions of the ring it knows there is only one thing to do: Punch your way out of it.

Which hopefully it will at elite level under new performance director Robert McCracken, whose professional nous acquired both in the ring and the corner suggests he knows what he is about.

The earlier loss of six of the eight Olympians and the departure of popular and successful head coach Terry Edwards is now troubled water under a bridge of sighs - or would have been had not two of the Olympians and Edwards decided to take legal action against the Amateur Boxing Association of England (ABAE). The boxers sued when bonuses promised before Beijing remained unpaid.

Edwards instructed m'learned friends to take the necessary action following remarks made on a BBC Five Live interview given by ABAE chief executive Paul King that he had been sent a letter informing him that these bonuses had been dropped. Edwards said he knew nothing about it. All three have won their cases, Edwards receiving some £80,000 and an apology and, as insidethegames reported this week, DeGale was awarded £20,000 for his gold medal and Jeffries £5,000 for his bronze. With costs, the already cash-strapped ABA are likely to have shelled out well over £150,000.

Unfortunately for them there is more to come. Having seen the his fellow medallists suitably enriched, bronze winner David Price is now seeking his pay-out. The giant Liverpool heavyweight has instructed his solicitor accordingly and tells us: "Now that James and Tony have got their money I'm not going to let five grand pass me by." So it looks as if the ABAE, already having paid a price, are now going to have to pay yet another Price.



While talking to Price (pictured right), who has now had four winning fights with Frank Maloney after his deal with David Haye's Hayemaker organisation went belly-up following the demise of TV backers Setanta, he confirmed that he had been approached to take part in the proposed new World Series of Boxing, from which the British Amateur Boxing Association (BABA) have now withdrawn. It happened after he had made his pro debut and he was told it could be arranged for him to return to an "amateur" status in order to participate as they were looking for big names. 

He admitted he was tempted but says: "No definite offer was put on the table and after weighing things up I decided staying pro was the best thing to do. What concerned me is that while I thought it a good idea I was not convinced it was going to work. For
something like this to succeed you need major television backing. And if someone like Carl Froch, who is a world champion can’t get on terrestrial television, what chance has a new and untried amateur boxing tournament?" 

That of course is the question, and Price is not alone in having his doubts. The former world featherweight champion, Barry McGuigan also says he is not sold on the idea, and sees little future for it even though he attending the launch of the proposed London leg of the inter-city tournament recently when ABA president, Richard Caborn, in welcoming AIBA chief Dr C K Wu, spoke glowingly of an event designed, among other things, to offer young fighters an alternative to turning pro by paying them substantial prize money yet still enabling them to compete in the Olympics. 

That House of Commons reception must seem something of an embarrassment now that BABA have decided to pull out, especially for Caborn and Paul King, who is on the AIBA committee and enthusiastically backed the World Series.

But I can understand BABA chairman Derek Mapp’s decision not to take the financial risk [AIBA wanted €75,000 – about £66,000 - as an up-front deposit] after the shortfall of funding from UK Sport for pre-Olympic preparations. BABA wanted and expected £1.8 million and received only £950,000. Mapp is right in deciding to concentrate available funds on reorganising both the men's and women's programmes, as there is some good young talent to nurture – notably among Britain’s impressive ladies who punch.  Unfortunately hopes of hiring a Norwegian coach for the women have had to be abandoned in the financial climate.

Also, not everyone in amateur boxing was as enthusiastic as Caborn and King about the series. Opposition to it was one of the reasons that led to the departure of Kevin Hickey after his brief spell as performance director and had Terry Edwards still been in charge he certainly would not have backed Britain’s participation. All the professional promoters I have spoken with say it hasn't got a prayer – but then they would, wouldn't they?

Nonetheless, AIBA are to be applauded in attempting something innovative, though reservations must remain until we know that substantial TV and sponsorship deals are in place.  At the moment, the greatest interest would seem to come from Asia and Eastern Europe. In America, amateur boxing has virtually died a death after some disastrous Olympics and a number of other Western European capitals seem reluctant to sign up. 

While personally I would like to see it succeed, I have my doubts about the interest it would create here. Serious seduction would need to be made for TV to show it and budgets are tight at both the BBC and ITV. It would have been perfect for Setanta of course, but "The New Home of Boxing" is no longer with us and Sky's boxing diary is already rather full. The best option might be ESPN, which really has yet to take off in the UK, but how many would subscribe to watch?  And there could also be problems in finding a suitable venue with most major arenas heavily booked over the next couple of years. 

The World Series is well conceived, aiming to give amateur boxing a much needed higher profile, some oomph and personality but I fear there are too many other sporting attractions coming up like the Commonwealth Games, World Cup and Olympics as well as world title fights involving David Haye, Amir Khan and Carl Froch among others for it to grab a decent share of public attention.  However I do hear that AIBA representatives will be coming here to explore other avenues for a possible London franchise. I wish them luck.

Alan Hubbard is an award-winning sports columnist for The Independent on Sunday, and a former sports editor of The Observer. He has covered 11 summer Olympics and scores of world title fights from Atlanta to Zaire, and is a former chairman of the Boxing Writers’ Club.