By Igor Lazorin, tass

Andrei Ryabinsky, the head of the promotional company "World of Boxing,"  will continue to fund boxing, but his day to day functions will now be handled by manager Vadim Kornilov. Ryabinsky announced the move at a news conference.

"In Russia there is no boxing industry, there is no business, because there are no channels that pay for fights," said Ryabinsky. "I have another business in which I earn money, and  I will continue to fund the sport. Boxing - this is more than a hobby, which I will continue to fund, but soon my functions will be handled by Vadim Kornilov."

Ryabinsky launched "World of Boxing" in 2013. The company cooperates with such boxers as Denis Lebedev, Alexander Povetkin, Edward Troyonovsky, Dmitry Bivol and numerous others.

Kornilov is best known for being the manager of Ruslan Provodnikov, Lebedev, Bivol, Viktor Postol and others.

IN OTHER NEWS: Auckland New Zealand’s Robert Berridge announced his retirement today, surprising everyone in the NZ boxing community.

Berridge has had a successful career with 29 wins, 21 by KO, 7 loses and 1 draw. He has held titles including WBA - PABA, WBC ABCO, WBO Oriental, IBO Oceania and New Zealand National (NZPBA Version) Light Heavyweight titles. Berridge has ranked very high in his career peaking at 22nd on Boxrec, top 40 in WBC, top 10 in WBO and 12 in WBA.

In his career he has fought for three world titles in his career including the IBO World Light Heavyweight title against South African Thomas Oosthuizen (L UD), UBO World Light Heavyweight title against Canadian Ryan Ford (L TD) and the Interim WBA World Light Heavyweight title against Dmitry Bivol (L TKO).

The highest point of Berridge career is in 2014 while under Duco Boxing and off a 9 win streak. Berridge has wins over manly credible boxers including Adrian Taihia, Sam Rapira, Daniel MacKinnon, Serge Yannick, Trent Broadhurst and many more. 

Berridge will end his career with being the longest reigning NZPBA Champion, 37 bouts, 187 rounds, ranked 1st in New Zealand and 108th in the world.