A planned project, pending financial backing, is set to unite numerous top-tier boxers under a Saudi-led professional league. This initiative aims to consolidate the fragmented and often disorganized landscape of boxing promotions into a single entity that could dramatically alter the future of the sport.
Saudi Arabia, having made significant forays into professional golf and soccer, is now poised to make a notable leap into the world of professional boxing. A plan spearheaded by the nation, which is nearing its final phase of approval, could redefine the sport’s economics and organizational structure.
The kingdom’s sovereign wealth fund, known as the Public Investment Fund (PIF), is currently finalizing the initial funding, speculated to be around $2 billion. This investment would lay the foundation for a proposed global boxing league, consisting of approximately 200 elite male boxers categorized across 12 weight divisions.
The proposed league would streamline the competition, allowing the cream of the crop to regularly compete against each other, a stark contrast to the current scenario characterized by multiple promoters and sanctioning bodies, creating a convoluted landscape with various ‘champions’ across the same weight classes. The Saudi vision is to introduce a singular, recognizable brand akin to the Ultimate Fighting Championship’s model, which has seen increasing global popularity.
Discussions of this grand plan, which have been ongoing for over a year, have seen the involvement of consultancy firms such as the Boston Consulting Group. If given the green light, the boxing series could launch as soon as the first half of next year.
Saudi Arabia has already made a name for itself in the boxing world by offering substantial prize purses and hosting title fights. The PIF would continue to finance the project, with Sela, a sports events company, potentially promoting the events both domestically and internationally.
However, the execution of this plan may encounter hurdles due to existing contracts between top boxers and prominent promoters, potentially necessitating negotiations or partnerships with these entities. Additionally, the PIF is exploring partnerships with traditional boxing organizations that hold rights to valuable resources such as archival footage and historic titles.
The proposed league would also mandate a minimum number of appearances from boxers to avoid prolonged absences that have previously frustrated fans. Sela, which staged the heavyweight unification bout between Tyson Fury and Oleksandr Usyk, could play a pivotal role in promoting the events, though the company has not commented on this new venture.
The project resonates with the broader ambitions of Saudi Arabia’s crown prince, Mohammed bin Salman, who seeks to diversify the nation’s economy and modernize its society. Turki al-Sheikh, the chairman of Saudi Arabia’s General Entertainment Authority, is a central figure in these transformative sports initiatives.
As the kingdom continues to host high-profile boxing events and plans to extend its reach globally, the potential for reshaping the sport’s landscape and how it is broadcast looms large, with innovations in distribution and a tacit acceptance of online streaming offering unprecedented access to viewers worldwide.