Saudi Arabia and TKO Group Near Historic Agreement to Launch Global Boxing League

In a major development for the sports world, TKO Group Holdings, the parent company of UFC and WWE, is on the brink of signing a transformative deal with Saudi Arabia to create a new global boxing league. This initiative is poised to reshape the boxing landscape, leveraging Saudi Arabia's increasing influence in the world of combat sports.

The Deal Structure

According to TKO President and Chief Operating Officer Mark Shapiro, the agreement would see TKO playing a central role in the league's operations. "We are close to an agreement with the Saudis on the creation of a boxing league where TKO would be the producer, promoter, and responsible for all day-to-day operations," Shapiro revealed during an investor call. The deal reportedly includes a $10 million fee for TKO, with no capital investment required from their side.

Saudi Arabia's Growing Influence in Boxing

The potential league is the latest move in Saudi Arabia's ambitious sports strategy. Over recent years, the kingdom has hosted several high-profile boxing events, including Tyson Fury's heavyweight clashes with Anthony Joshua and Oleksandr Usyk. These events, coupled with the successful 'Riyadh Season' series held globally, have positioned Saudi Arabia as a key player in the boxing world.

The League's Vision and Challenges

While details about the league's format and participants remain under wraps, Shapiro hinted at the possibility of overseeing four major super-fights in 2025 and 2026. "Those may or may not fall into the boxing league itself, they may just be one-offs," he noted. However, the challenge lies in attracting top-tier talent, as many of boxing's biggest stars are currently tied to established promoters like Matchroom, Top Rank, and Queensberry.

Broader Implications

Saudi Arabia's multi-billion-dollar sports investments, including the creation of the LIV Golf League, are part of a broader strategy to diversify its economy away from oil. Critics, however, argue that these efforts are aimed at diverting attention from the kingdom's human rights record, a practice often referred to as 'sportswashing'.

As the deal nears completion, the boxing community eagerly awaits further announcements. This league could mark a new era for the sport, bringing unprecedented opportunities for fighters and fans alike.