Reuters is reporting that the Saudi Arabia Public Investment Fund (PIF) is in discussions with “multiple boxing stakeholders to create a league” according to the exclusive report.
PIF is seeking to invest in a joint venture with sport’s stakeholders that would presumably put together top boxing bouts. For decades, the biggest obstacles to putting together the biggest fights has been promoters working with one another. According to the report, Matchroom Boxing and Golden Boy Promotions are involved which could result in a deal between $4-5 billion.
PIF would want to hold a stake in the joint venture and allow the main boxing promotions to come together.
Saudi Arabia is making in roads in the sporting world with the biggest being the LIV Golf series which rivaled the PGA Tour until the two merged.
Payout Perspective:
This is an interesting take from PIF which could shake up the boxing business. If promoters were to come together and put fights together from different promotions, it would be a benefit for fans. This strategy has been offered up in the past but the problem is the slice of pie that promoters seek. Here, you may infer that PIF would be willing to invest a healthy amount of capital to be a part of this joint venture. We have seen the TKO Group (i.e., WWE and now UFC) work with Saudi Arabia and receive a windfall of money for holding events in the Kingdom. The Professional Fighters League is also benefitting from the PIF and has its own “MENA” division to cater to the region. Boxing is becoming a regular in holding big events in Saudi Arabia with the Fury-Usyk fight last month being the latest event. A boxing league would presumably combine rosters of fighters from different promotions to create the best fights and hold them in KSA.
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