Olympic boxing hopefuls have been left in limbo less than two years before the Tokyo 2020 Games after planning for the event was frozen on Friday.

The International Olympic Committee (IOC) announced it had put plans on hold for the boxing competition after launching an investigation into the sport’s governing body, the International Boxing Association (Aiba).

The IOC said in a statement it had taken the decision after Aiba had submitted a progress report to the Olympic body about, detailing its current situation regarding governance, financial management and sporting integrity. Aiba has been in turmoil for several years and the IOC has warned that the organisation must sort out its finances and governance problems, as well as anti-doping issues in the sport, or risk missing out on the Tokyo 2020 Games.

The IOC said boxing’s participation at Tokyo 2020 would not be in danger, but there would be huge logistical difficulties in organising an Olympic boxing tournament outside of the auspices of Aiba should the IOC withdraw its support of the governing body. Boxing has featured in all but one of the Summer Olympics since 1904 with Muhammad Ali, Joe Frazier, George Foreman, Sugar Ray Leonard, Anthony Joshua and Katie Taylor among those to have won gold medals and gone on to claim professional world titles.