Edwards had taken action after the ABAE's chief executive Paul King had claimed on the Garry Richardson Show on BBC Radio Five Live on December 7 2008 that he had been sent a letter informing that the scheme which was supposed to reward British medallists, including gold medallist James DeGale, in Beijing had been dropped.

The ABAE has now reached an out-of-court settlement from King and the ABAE.

A statement issued by the ABAE said: "It is accepted by Mr King that the wording he used in the interview suggested that Mr Terry Edwards MBE failed to distribute a letter sent to him by Mr King concerning the withdrawal of Olympic bonus payments to James DeGale.

"Mr King now accepts that Mr Edwards did not receive his letter and Mr King and the ABAE apologise for any upset or embarrassment caused to Mr Edwards."

Edwards told insidethegames today that he was satisfied with the apology and has not ruled out returning to work with Britain's top amateur boxers in the build-up to the London 2012 Olympics

He said: "I’m very happy with the result and happy that my name is now in the clear.

"I have always been an honest and straight guy so to get this apology means that I have now been fully vindicated.

"In my eyes, the matter is now closed.

"My personal relationship with the ABAE remains very good and like I said, I am very happy that this matter is over and that my name has been cleared."

Edwards, controversially, did not have his contract renewed after Beijing despite leading Britain to their most successful Olympic programme for more than half-a-century.

He is currently head coach at high profile Rooney’s Boxing Gym in London but has not completely ruled out a return to help in the run-up to London following the departure last month of Kevin Hickey as performance director.

Edwards said: "You never know what is around the corner but right now, I am extremely happy doing what I am doing."

DeGale, who won the middleweight title in Beijing, and Tony Jeffries, who claimed a bronze medal in the light-heavyweight category, are also close to reaching a deal with the ABAE after they sued them for the unpaid bonuses.

DeGale was claiming £20,000 and Jeffries £5,000.

Both have since turned professional.

Contact this writer at [email protected].


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