Open for people to visit and soak up the rich history of boxing, the World Boxing Hall of Fame was founded by Everett L. Sanders in 1980. However, until the hall formed a partnership with the Los Angeles Athletic Club that provided it a location in 2006, it did not have a permanent location. This is the same year that its Walk of Fame was opened.
In addition to the bronze sculpture, inductees into the hall receive a medallion and a plaque. Professional boxers must wait five years after retiring before they can be inducted into the World History Hall of Fame.