Saudi Arabia is gradually becoming a thriving hub for the sport of boxing for some years now - probably since Anthony Joshua reclaimed his unified Heavyweight crown from Andy Ruiz in 2019, and it has now been revealed that their Public Investment Fund is advancing plans to create a new boxing league.
Under the supervision and direction of Turki Alalshikh, the Kingdom Arena in Riyadh has hosted majority of the most sought after fights in the world in recent times, including the undisputed heavyweight title fight between Tyson Fury and Oleksandr Usyk, plus names such as Anthony Joshua, Deontay Wilder, Joseph Parker, Dmitry Bivol, Daniel Dubois and Zhilei Zhang.
Events are also now beginning to be taken around the world, with the huge Terence Crawford vs. Israil Madrimov card being held in Los Angeles in August, while a massive card topped by Anthony Joshua ( possibly against Daniel Dubois) is planned for Wembley Stadium in towards the end of the year.
After recently putting up the epic undisputed clash between Tyson Fury and Oleksandr Usyk and also The 5 v 5 novelty between Matchroom and Queensberry, Turki Alalshikh is looking to take it a notch higher, after Reuters reported that the Public Investment Fund (PIF) is in discussions with multiple boxing stakeholders to create a new league.
“PIF is looking to invest in a joint venture with some of the sport’s stakeholders that would feature more boxing bouts, the people said, speaking on condition of anonymity.
“A handful of leading promoters including Matchroom Boxing and Golden Boy Promotions are involved in the discussions that could result in a deal valuing the new entity between $4-5 billion, one of the people said.
“PIF wants to create a venture that would bring the main sport’s organisers together, in which it would take a minority stake, the person added.”
Should the concept of a new boxing league come into fruition, boxing could operate in a similar way to how the UFC operates in MMA, with the majority of big name fighters all competing under the same banner.
It is the latest sport that appears to be attracting investment from the PIF, having already securing deals in football, golf and Formula 1.
But is this concept viable and sustainable long-term?
Would it be beneficial to the sport or spell its demise?
Well, details of how the format would be like, should roll out pretty soon.
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