The Irish Amateur Boxing Association were the biggest funding losers at this afternoon's Rio Review by Sport Ireland.
The IABA have paid the price for an Olympic campaign which failed to live up to their usual high standards, seeing their 2017 funding cut by €200,000.
Ireland sent a record eight boxers to the games in Rio last year, and failed to bring back a medal, despite several fighters expected to progress to semi finals at least.
European Games gold medallist Michael O'Reilly never even entered the ring in Rio, having been sent home following a failed drugs test.
Those failings have seen the IABA's High Performance funding cut to €700,000 in 2017, a 22 percent fall from their 2016 figure.
Sport Ireland have also issued the association with a list of 30 recommendations, which includes the new High Performance Director to work separately from the head coach.
This afternoon's report states that standards in the High Performance boxing programme had started to fall even prior to the high-profile departure of Billy Walsh.
"Was this a blip in an otherwise outstanding success story or was the Rio result symptomatic of underlying failings in the High Performance programme? The answer is unequivocally the latter. There are fundamental weaknesses that have been exposed by the Rio outcome.
"There is no question that the loss of the Head Coach to the programme was a major blow and was, in our opinion, a factor in the subsequent outcome in Rio. However, the fault lines in the programme were present well before his departure," the report says.
Meanwhile the two biggest winners were rowing and sailing, after both sports brought back medals from Rio.
Rowing's High Performance funding climbs from €400,000 to €525,000, while the Irish Sailing Association will receive €735,000 this year, a €100,000 increase.
Other governing bodies to receive an increase in High Performance funds are athletics, swimming, pentathlon, badminton, gymnastics and taekwondo.
In 2017, €7.2 million will be invested directly into High Performance programmes, with a further €1.8 million invested to support athletes under the International Carding Scheme.
