AIBA president claims position safe despite reports of no-confidence motion

Stressing that AIBA's finances remain "very strong", Wu accused "negative factions" within AIBA's executive committee of plotting to undermine his leadership by spreading unsubstantiated rumours of unrest, centred around the status of multi-million pound investments made by companies and individuals in Azerbaijan and China.

The 70-year-old dismissed an apparent vote of no confidence in his leadership during this week's executive committee meeting in Moscow, intimating he expects to see off any attempt to remove him at a forthcoming extraordinary congress, which is expected to take place within the next three months.

Wu told Press Association Sport: "Since the publishing of these newspaper stories I have had very many national federations expressing their full support and indicating that there is nobody else who they feel is capable of replacing me.

"I think (the reports) are very unfair because it is only 12 people (alleged to have voted against Wu). I was elected by members from 113 countries, and the only motion we have selected is to call an extraordinary congress in three months' time. This is only about ex-employees who are seeking revenge."

AIBA officials previously stated that they had reached an agreement with Azerbaijani company Benkons MMC for the repayment schedule of a 10m dollar loan, while Wu disputed the right of a Chinese investor, Wu Di, to continue to pursue the retrieval of a £15.5m investment into a soon to be defunct AIBA agency, the Boxing Marketing Arm (BMA).

Wu accused Di of failing to deliver on previously-agreed funding levels for the long-term development of the BMA and by association the APB, the branch of AIBA which was set up in the wake of London 2012 as a means by which boxers could pursue fully professional careers whilst remaining under the auspices of AIBA.

APB has subsequently almost ground to a halt, the latest in a series of high-profile setbacks for the governing body highlighted by a controversial Rio Olympics during which a senior AIBA executive and all 36 referees and judges were suspended after a number of controversial verdicts.

While Di has indicated that he holds AIBA responsible for the repayment of his investment, and is prepared to take the matter to court, Wu insisted the money pertains solely to BMA and is, in turn, being investigated to establish its financial probity.

Of more immediate concern to Wu is the largely negative reaction to the news last month that boxing faces having its men's weight categories cut from 10 to eight for the Tokyo Olympics, partly to create space for an increase in women's categories from three to five.

The two men's lightest weights, 49kg and 52kg, appear to be most at risk but Wu said he is still hoping to use his power as a member of the IOC's executive committee to broker a compromise, potentially allowing for a smaller reduction in men's weights to nine.

"The (AIBA) executive committee still wants to have the possibility to negotiate with the IOC on this reduction proposal," added Wu. "We certainly need to have more discussions and I am hopeful we can achieve nine men's weights and five for women for Tokyo."