By Nick Giongco, Mb.com

Philippine Olympic Committee (POC) President Jose Cojuangco Jr. has lamented the failure of the boxing association to add more boxers to the Olympic team and hinted that so much money was wasted and nothing to show for it.

The Philippines’ last hope to have more boxers in Rio was scuttled with two defeats in the sport’s last qualifying held in Azerbaijan over the weekend.

Flyweight Ian Clark Bautista and welterweight Felix Eumir Marcial bowed to their opponents in the AIBA World Qualifying in a close match.

“Three million (pesos) was spent for boxing when they went on a three-week training stint in the US,” said Cojuangco, noting that the project did not bring the results the Association of Boxing Alliances of the Philippines (ABAP) had envisioned.

Cojuangco had previously tried to dissuade the ABAP from going to the US and suggested that the training camp be held in Manila or Baguio.

Bautista lost a 29-28 decision to Kelvin Linares of Spain in the opener, while top seed Marcial, the 2011 world junior champion, was stunned by Germany’s Abbas Baraou.

With Linares and Marcial out, the Philippines will have just two fighters – light-fly Rogen Ladon and lightweight Charly Suarez – in Rio.

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