The World Boxing Organization (WBO) has undergone a significant new change as Francisco “Paco” Valcarcel ends his near 30-year tenure as WBO president to herald in a new president in Gustavo Olivieri. The decision marks a change in the previous regime which saw the WBO rise from its position as a minor sanctioning body to become the last to join the WBA, WBC and IBF to become a prevalent sanctioning body.
Paco Valcarcel, a Puerto Rican lawyer, took over the WBO in 1996 after its previous president, Puerto Rican former professional boxer Jose Torres, stepped down from his position as the WBO president. Gustavo Olivieri will step in, as was unveiled during the WBO’s 37th Annual WBO Convention in San Juan, Puerto Rico, on Thursday, October 30.
Under Valcarcel’s tenure, the WBO went on to establish itself as a major sanctioning body within a decade, with the WBA the first organization to officially recognize the WBO and acknowledge its champions on their ranking boards in 2000. In 2004, the WBC began including WBO champions on its own rankings before the IBF finally recognized the WBO in 2007.
The current “four-belt era” as it is known, thus seemed to have began in 2004 by the time both the WBA and WBC began including WBO champions in their rankings. This era currently epitomizes a period where four world titles are available to be won, and has seen several historic moments occur over the past couple of years with Ukrainian heavyweight Oleksandr Usyk (22-0, 14 KO’s) becoming the first undisputed champion of the four-belt era this year, while Terence Crawford (41-0, 31 KO’s) and Claressa Shields (15-0, 3 KO’s) both earned the distinction of becoming the first male and female boxers to become undisputed twice in 2023 and 2022 respectively.
The past decade or so saw the WBO distinguish itself as arguably the most reliable and consistent sanctioning body characterized by strict but necessary actions such as stripping champions for not meeting their obligations, or by showcasing full transparency in regards to its rules and practices.
Aside from the regional, continental and world titles it produces, the WBO has also been responsible for the creation of a WBO “Super Champion”, which is a special designation afforded to accomplished champions that allows them several privileges including the ability to immediatelly challenge a WBO c champion when entering a new weight class.
New president Gustavo Olivieri hails from the same country as Paco Valcarcel, Puerto Rico, and like his predecessor is a lawyer. Olivieri has years of experience working as an assistant to Valcarcel and further served as an in-house counsel for the WBO.
Valcarcel is expected to continue within the organization in the capacity of a senior consultant after a unanimous approval.
