According to The Daily Telegraph, boxing promoter Frank Warren and his company Queensberry Promotions are preparing legal action against Sela and TKO Group Holdings in the British High Court for $1 billion.
Sela is a Saudi Arabia state-financed entertainment and hospitality company heavily involved in major sports and live events. The organization has been instrumental in staging some of the biggest fights in boxing over recent years, featuring big names like Tyson Fury, Oleksandr Usyk, and Anthony Joshua.
TKO Group Holdings is fronted by Hollywood mogul, Ari Emanuel, president Mark Shapiro, WWE president Nick Khan, and UFC boss Dana White. TKO recently launched Zuffa Boxing, which made headlines with the shock, $15 million acquisition of Conor Benn. Both companies operate under the guidance of Turki Alalshikh, Chairman of Saudi Arabia’s General Entertainment Authority (GEA).
The article states: “Mr. Warren’s company, Queensberry, is claiming Sela and TKO breached contracts they had signed with him and went behind his back to form a venture that aims to revolutionize and dominate boxing.”
Alalshikh and TKO announced a partnership late last year with plans to reshape the boxing landscape. Zuffa Boxing has already implemented structural changes compared to traditional promoters, including reducing the number of recognized weight classes to eight, whereas the wider boxing world currently recognizes 17 weight divisions.
A spokesperson for Sela responded to the allegations in a statement:
“We are disappointed by the unfounded claims brought by Queensberry and Frank Warren.”
“We reject them in their entirety and are confident that the facts will fully vindicate our position.”
Legal letters have allegedly been sent to Sela and TKO Group announcing Queensberry’s intention to pursue damages for breach of contract, according to the report. The article also suggests that Queensberry signed a deal with Sela to provide expertise within the boxing industry. Additionally, there is mention of Queensberry and TKO signing an agreement between themselves. However, Warren and his promotional company have seemingly taken the view that Sela and TKO circumvented them to sign a five-year partnership that ultimately created Zuffa Boxing, per the article.
The news comes as a shock given Warren and Alalshikh have worked closely together over recent years to stage major boxing events. Alalshikh was also credited with helping to end a long-running feud between Warren and his domestic promotional rival Eddie Hearn. That reconciliation led to the pair co-promoting multiple events across Saudi Arabia, England, and the United States.
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