London, Sept 23 : Olympics boxing organisers have reportedly made a secret deal to fix next year's competition in return for millions of pounds.

Azerbaijan are said to have been promised two gold medals at the London Games in return for six million pounds to the Amateur International Boxing Association, the Daily Mail reports.

AIBA officials have admitted receiving the cash from the former Soviet state, having previously claimed it came from a Swiss company, but deny claims of corruption. They said the cash was paid to help shore up a new amateur franchise called World Series Boxing.

The BBC investigation alleges payment from an Azerbaijani to boxing officials, but insiders have claimed the chief operating officer of World Series Boxing, Ivan Khodabakhsh, had bragged about a secret deal between the amateur boxing franchise and the Azerbaijan government.

One source said: "Ivan boasted to a few of us that there was no need to worry about World Series Boxing having the coin to pay its bills. As long as the Azeris got their medals, WSB would have the cash."

AIBA, who organise the Olympic boxing, have confirmed the money came from Azerbaijan, but say it was from a business investor. They called the allegations `preposterous', although AIBA president Dr Wu Ching-kuo promised to sack Khodabakhsh if he is found to have acted illegally.

"We have a zero tolerance policy on corruption and we will conduct an immediate investigation," Dr Wu added. (ANI)