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8 hours ago
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UFC and WWE parent TKO Group has, as promised, jumped into boxing, inking a partnership with Saudi Arabia. The deal with HE (His Excellency) Turki Alalshikh, chairman of the Saudi General Entertainment Authority, and Sela, the Saudi national entertainment and events conglomerate, will establish a new boxing promotion that will provide a platform for leading boxers and prospects in the sport.
TKO will serve as managing partner, providing day-to-day operational expertise, management and oversight of the promotion, with executive leadership anchored by UFC CEO Dana White and WWE president and TKO board member Nick Khan.
TKO CEO Mark Shapiro called the agreement “a strategic opportunity to reimagine the sport of boxing globally.” He had teased a deal as imminent on an earnings call last week. “TKO has the deep expertise, promotional prowess, and longstanding relationships. HE Turki Alalshikh and Sela share our passion and vision for evolving the current model. Together, we can bring the sweet science back to its rightful place in the forefront of the global sports ecosystem.”
Turki Alalshikh said the “partnership between industry powerhouses sets the stage for an unparalleled experience for boxers and fans. Together, we are developing the next generation of talent and delivering world-class events at a time when the sport is primed for further disruption.”
Sela, which is owned by Saudi Arabia’s Public Investment Fund (PIF), has played a pivotal role in promoting and delivering some of the biggest international boxing events in recent years, including Terence Crawford vs. Israil Madrimov in Los Angeles, and Anthony Joshua vs. Daniel Dubois at Wembley Stadium, which set a new UK attendance record.
The company is also lead sponsor of Newcastle United Football Club and has delivered projects such as Riyadh Winter Wonderland, Formula E, and the Italian Super Cup. Its CEO Rakan Alharthy said the partnership“will create a sustainable future for boxing.”
According to the announcement, the new promotion will feature:
A highly structured system to develop new talent from around the world, including athlete combines and academies.
Access for all boxers to the UFC Performance Institute, the world’s leading combat sports performance training, research, rehabilitation, and nutrition center, featuring locations in Las Vegas, Mexico City, and Shanghai.
TKO’s production, media, and promotional expertise, to deliver both in-arena experiences and top-tier, state-of-the-art broadcasts to fans around the world.
TKO said further details about the new boxing promotion, including fighter signings, fight schedules, venues and host locations will be revealed in the coming months.
