Saudi Arabia's upcoming major investment in sports: Dominating the boxing industry with a billion-dollar play.


Saudi Arabia is seeking to revolutionize the world of professional boxing with an ambitious plan that involves a significant financial investment. The plan, led by the country's sovereign wealth fund, aims to create a global boxing league consisting of 12 weight classes with around 15 fighters each. This would replace the current fragmented system of multiple promoters and sanctioning bodies. The proposed league draws inspiration from the successful business model of the Ultimate Fighting Championship. The project, developed with the assistance of consultancy firms, is nearing approval and could commence as early as the first half of the following year. However, the plan faces challenges related to existing contracts with high-profile promoters and traditional boxing organizations. The events would be promoted by a P.I.F. entity called Sela and are expected to take place worldwide, building on the success of recent high-profile boxing cards held in Saudi Arabia. The initiative is spearheaded by Turki al-Sheikh, the chairman of Saudi Arabia’s General Entertainment Authority, who aims to "fix" the perceived shortcomings of the sport.



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