Saudi Arabia Eyes New Boxing League with TKO Partnership
Saudi Arabia, already a major investor in boxing, is planning to collaborate with TKO, the owner of Ultimate Fighting Championship (UFC), to establish a new boxing league. This move highlights the kingdom’s ongoing commitment to expanding its presence in professional sports.
The potential deal involves Sela, a subsidiary of Saudi Arabia’s Public Investment Fund, partnering with TKO to create a league featuring emerging boxers. While TKO has not officially confirmed the partnership, it has expressed openness to opportunities that could enhance its business portfolio.
Saudi Arabia’s interest in boxing is not new. The country has hosted significant title fights, including the recent bout between Oleksandr Usyk and Tyson Fury. These events have been made possible by substantial financial backing from Saudi officials, notably Turki al-Sheikh, who has played a pivotal role in organizing high-profile boxing matches.
Al-Sheikh has also been instrumental in fostering a partnership with Dana White, UFC’s influential figure, aiming to transform the boxing landscape. Discussions for this collaboration have been ongoing across various regions, including the U.S. and Europe.
The proposed league offers TKO a low-risk venture, with Saudi Arabia covering most financial aspects. TKO could earn management fees and receive an equity stake, with hosting fees from Saudi events expected to exceed those from other countries.
This initiative aligns with Saudi Arabia’s Vision 2030, which seeks to diversify the economy away from oil dependence. However, critics argue these efforts serve as a means to divert attention from the country’s human rights issues, a practice often referred to as sportswashing.
Despite the potential benefits, replicating UFC’s success in boxing presents challenges due to the sport’s regulatory environment and the established earnings of top boxers compared to mixed martial arts fighters.