Saudi Arabia has been the home of boxing over the past couple of years, and it has now been reported that their Public Investment Fund is in talks to create a new boxing league.
Under the guidance of Turki Alalshikh, some of the biggest fights in the world have headed to the Middle East in recent times, including the undisputed heavyweight title fight between Tyson Fury and Oleksandr Usyk, plus names such as Anthony Joshua, Deontay Wilder and Dmitry Bivol.
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 Joshua is planned for Wembley Stadium in September.
It seems that Saudi Arabia now want to take it to the next level, 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.”
The creation of a new boxing league could see the sport 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.
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