In brief
Saudi Arabia’s Public Investment Fund is looking to create a boxing league with TKO, following its extensive investment in global sports, potentially revolutionizing the boxing scene.
Saudi Arabia is on the brink of making a splash in the boxing world by teaming up with TKO, the company behind the Ultimate Fighting Championship (UFC). This collaboration could bring about a new boxing league, targeting rising boxing stars to exclusively join this fresh competition. According to insiders, an announcement could be made in the coming weeks. TKO, notable for its $10 billion valuation of the UFC, has stated they are open to unique opportunities that mirror their growth ambitions. This move follows an earlier attempt by Saudi Arabia to consolidate boxing that faced complications, highlighting the challenges of uniting various boxing promoters and sanctioning bodies. The new initiative will be backed by Sela, a subsidiary of Saudi Arabia’s vast Public Investment Fund. TKO will be a key partner, with an equity stake and revenue share on the table to sweeten the deal. With such substantial financial backing, this venture could significantly alter the landscape of international boxing, attracting worldwide attention to Saudi Arabia’s growing sports ambitions.
