Someone please make this a sticky...
Check out what I found while searching around the other day...
http://www.boxinggyms.com/tips/gloves_smell.htm
BOXING GLOVE CARE
SMELLY GLOVES
It is normal for boxing gloves to start smelling of old sweat. The secret is prevention. With proper care, your boxing experience will be more pleasurable and your equipment will last longer.
AIR YOUR GLOVES OUT
This is the obvious choice. It doesn't cost anything, doesn't require extra equipment, and is easy.
SOCK STUFFED WITH CEDAR CHIPS
Fill a pair of cotton socks with cedar chips and tie off the ends. After airing out your gloves, stuff a sock into each glove. You can buy cedar chips at a pet store(Hampster Bedding) and it works great.
Some of our trainers, just throw their sweat soaked gloves in the storage closet and this promoted strange smells(Use your imagination). To solve this problem, I drilled 3" holes into the closet and inserted fans from an old computer. It really helped with ventilation, allowed the gloves to dry.
GLOVE TREE
Check equipment suppliers. They work, but take extra floor space.
We have tried products like frebreaze, but it left our gloves stiff and don't like chemicals on our hands.
TIP: Drying Sweaty Gloves by Anthony Flanagan
On the subject of drying sweaty equipment like gloves I found that using a blow dryer with a cool air setting works extremely well, but do not allow to dry too long or the leather will become hard.
TIP: You should have two of everything. Good way to get rid of glove odor is to spray with a mixture of water and alcohol and let them dry. I spray on my hands first, wearing the gloves and move my hands inside them.
TIP: There are two things to consider about gloves care, the inside and the outside of the glove. I recommend using bags of silica gel together with baby powder after every work out, and when possible leave the gloves hanging instead of putting them in a closed environment. For the outside periodically put some body lotion (the cheapest you can find will do) to the leather to delay drying and eventual breaking of the leather.
