Saudi Arabia has made significant investments in professional golf and soccer, and now it aims to dominate professional boxing as well. A grand plan, backed by Saudi Arabia’s Public Investment Fund, is nearing final approval, which would reshape the sport's economics, structure, and future.
The plan involves an initial investment of up to $2 billion to create a global boxing league. This league would feature about 200 of the top male boxers divided into 12 weight classes, ensuring that the best talents regularly compete against each other, effectively replacing the current chaotic system of dueling promoters and sanctioning bodies.
Under this new structure, each weight class would include around 15 fighters, creating a unified entity similar to the Ultimate Fighting Championship (UFC). This setup would allow for high-profile fights around the world, providing a more straightforward and engaging system for fans. The project, which has been in development for over a year with the help of consultancy firms including Boston Consulting Group, could launch as early as the first half of next year if final approvals are granted.
Saudi Arabia’s push into boxing comes amidst a broader strategy to position itself as a global sports hub, a move seen as an effort to enhance its international image through "sportswashing." However, significant challenges remain, including existing long-term contracts that top boxers have with high-profile promoters tied to different television networks. To address this, the PIF is considering full or partial investments in major boxing promotion companies.
The proposed league would also introduce mandatory participation requirements to prevent top boxers from taking prolonged breaks from the sport. Sela, a PIF entity that has previously organized major boxing events in Saudi Arabia, would be responsible for promoting these global events. Recent high-profile matches in Saudi Arabia, including the heavyweight unification bout between Tyson Fury and Oleksandr Usyk, have already set a precedent for the kingdom's ambitions in boxing.
Turki Alaishikh, chairman of Saudi Arabia’s General Entertainment Authority and a trusted figure of Crown Prince Mohammed bin Salman, is at the forefront of these efforts. His influence is growing in the boxing world, as evidenced by his presence at major fights and the significant attention he receives from top boxers and promoters. Saudi Arabia’s strategy involves not only hosting major events but also revolutionizing the way the sport is broadcast, as seen in the recent heavyweight title fight which was given to partners to be aired for free in exchange for revenue sharing with the host nation.
Read more about the Usyk vs. Fury rematch by clicking here.
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