MEMBERSHIP CALLS REGARDING USA BOXING and BOARD of DIRECTORS MEETING

Mike Martino September 28, 2009

Usa-boxing-with-legs

PLEASE JOIN US FOR AN IMPORTANT CONFERENCE CALL REGARDING USA BOXING AND RECENT BOARD ACTIONS:

Dial-in:                     800-392-9198
Participant Code:       643190

There will be two calls scheduled as follows (both calls will be conducted by Mike Martino):

      Wednesday, September 30th at 7pm EST 
      Thursday, October 1st at 12pm EST

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MESSAGE FROM MIKE MARTINO

September 25, 2009 

To:       USA Boxing Membership

From:    Michael S. Martino, Interim Executive Director 

This week, both the USA Boxing Foundation and the USA Boxing Board of Directors conducted Board Meetings in an effort to stabilize the current financial status of our organization. In addition to the financial discussions and voting proposals, both bodies discussed changes in the current USA Boxing governance, which would provide voting rights for membership (LBC”s). 

I am pleased to announce that the following financial proposals were voted on and passed during the meetings: 

Foundation Meeting    

Approved a motion to loan USA Boxing $300,000, specifically to provide the necessary funds to pay the October 1, 2009 and January 1, 2010 USA Boxing insurance premiums. *There are conditions related to this loan, they will be discussed in an open membership conference call next week. 

Without this loan, USA Boxing would not have been able to renew our current insurance policies which expire on September 30. This would, in simplest terms, “shut down amateur boxing” in the United States.

Board of Directors Meeting

Approved motions to accept the $300,000 loan with conditions.

* Conditions will be discussed in open membership conference call next week
  (CALL DETAILS WILL BE ANNOUNCED ON MONDAY, SEPTEMBER 28TH).

Approved motion to increase 2010 membership fees, club dues and sanctions fees for multi-day events. *These increases will be discussed in open membership conference call next week.

Approved changes to the current USA Boxing Governance that will provide Board Membership voting rights for USA Boxing membership. This document will be sent to both AIBA and the United States Olympic Committee for their review and approval.                                               

Membership Conference Call

As the membership is aware, the National Office has been working under very difficult conditions. These conditions can be attributed to the lack of funding and resources necessary to operate our National Governing Body in an effective and efficient manner. Our current leadership is making every effort to communicate to membership on a regular basis. Therefore, the National Office will be conducting two open conference calls to membership next week. On Monday, we will post the phone number and dates/times on our website. We will also send out an e-mail blast announcing the calls. An agenda will be finalized on Tuesday, the following items have priority: 

  • Foundation Loan of $300,000
  • Membership Fee, Club Dues and Sanction increases
  • Governance Changes
  • USA Boxing National Coach
  • Independent Board Membership Nominations
  • USA Boxing’s 2010 High Performance Plan, submitted to USOC
  • Upcoming competitions with England and Women’s Continental Tournament in Ecuador.