REPORT | Saudi Arabia Wealth Fund is in talks to create a massive boxing league worth billions
It seems that Saudi Arabia and Turki Alalshikh are poised to turn the boxing world upside down.
In case fans haven’t noticed, Saudi Arabia has become a massive player in the world of combat sports. In the last few years, the country has made a big push into fighting. Led by Turki Alalshikh, a top advisor to Muhammad bin Salman, they’ve attracted multiple major boxing matches to the country by offering huge purses.
The likes of Tyson Fury vs. Oleksandr Usyk, Anthony Joshua vs. Francis Ngannou, and Deontay Wilder vs. Zhilei Zhang have all happened in 2024 alone. Furthermore, Saudi Arabia has begun to get involved in the world of MMA as well. Last year, the wealth fund invested $100 million into the PFL. They also have a deal with the UFC, whom is set to hold an event in the Middle East later this month.
Well, it seems that the country’s push into combat sports is just beginning. Saudi Arabia’s wealth fund is reportedly working on a deal to reshape the world of boxing. The news was first reported by Reuters, earlier today. According to several sources, the PIF (Public Investment Fund) is looking to create a league featuring some of the sport’s biggest promoters.
Image via: @thenotoriousmma on Instagram
Saudi Arabia’s Public Investment Fund reportedly begins creating massive boxing league
According to the report, a handful of the sport’s biggest promoters are already working to make it happen. Those promoters include Eddie Hearn’s Matchroom Boxing, as well as Oscar De La Hoya’s Golden Boy Promotions. If the deal goes to plan, it would result in a deal valuing the new boxing league at $4 to 5 billion.
The report also confirmed that Turki Alalshikh was heavily involved with making the deal, and has been working on it in the last month or so. However, what is currently unknown, is how the boxing league would function and be structured. Regardless, it seems that Saudi Arabia’s PIF is full steam ahead on making the deal.
For what it’s worth, Alalshikh has repeatedly stated his intent to clean up boxing. That’s one of the main reasons he helped to make Tyson Fury vs. Oleksandr Usyk. That bout produced the first undisputed heavyweight champion since Lennox Lewis, who accomplished the feat 25 years ago. ‘The Cat’ scored a split-decision victory over the British boxer last month to make history.
What do you make of this boxing news? Do you want to see a league created similar to the UFC?
This article appeared first on BJPENN.COM
Topics:
Boxing News
