In brief
Saudi Arabia is reportedly on the brink of launching a new professional boxing league in collaboration with TKO, the owner of the Ultimate Fighting Championship (UFC), as the kingdom continues its recent push into the professional sports arena.
Recently, Yasir al-Rumayyan, head of Saudi Arabia's Public Investment Fund, was spotted at a UFC event alongside Donald Trump and Elon Musk. This indicated the kingdom's growing influence in sports. Now, a company funded by the Public Investment Fund is in advanced discussions with TKO to establish a boxing league focused on elevating up-and-coming boxing talent. An announcement regarding this venture could be imminent.TKO has not confirmed any details about the partnership but has recognized the potential of such opportunities to enhance its business portfolio. Earlier this year, Saudi Arabia had ambitions to create a multibillion-dollar boxing league to unify the best fighters from around the globe. However, those discussions had proven challenging, partly because of the complications tied to the existing boxing promotion structure.The new league investment is set to be managed by Sela, a Public Investment Fund subsidiary, with TKO having a majority stake controlled by the talent agency Endeavor and will have a significant role in managing the operations. TKO stands to gain equity and revenue shares from this new venture, suggesting a mutually beneficial arrangement for both parties involved in this ambitious project.
