In recent years, Saudi Arabia has become the Mecca of the boxing world. Riyadh hosts grand events with historic fights that were once just a dream. However, the wealthy sheikhs are not satisfied with what has been achieved and are looking to create their own league where the best representatives of the sport will fight. Telecomasia.net tells you about a new Turki Alalshikh’s idea that can change the world of boxing.
Saudi Arabia wants to create new boxing league
According to Reuters, the Public Investment Fund of Saudi Arabia (PIF) is in talks with several parties in the boxing world to create a major league that will change the rules of the game. Turki Alalshikh, Chairman of the General Entertainment Authority in Saudi Arabia, is one of the initiators of this idea.
PIF plans to invest in establishing its own boxing league and involve top promoters such as Matchroom Boxing, Golden Boy Promotions, Top Rank, and others in the project. The estimated cost of creating the new organization is between 4 to 5 billion dollars.
Despite reports in various sources about the potential purchase of major promotional organizations, neither Eddie Hearn nor Bob Arum are willing to part with their empires, but they are open to collaboration.
A source familiar with the situation said that the PIF hopes to create a project that would unite the main organizers from the boxing world, with Saudi representatives getting a minority share.
Currently, boxing is governed by organizations like the World Boxing Council (WBC), the International Boxing Federation (IBF), the World Boxing Association (WBA), and the World Boxing Organization (WBO), each with its own regulations regarding championship belts. But if the sheikhs sit down at the negotiating table with promoters and strike a deal, the situation in the boxing market will change dramatically.
Bet on boxing with 1xBetOrganizing fights would be simplified several times over
If PIF does reach agreements with leading promotional companies to create its league, it would help them avoid numerous obstacles. Representatives of the new league could directly approach promoters and request boxers for organizing significant fights, thus presenting a unique new belt.
For instance, consider the potential fight between Terence Crawford and Saul Alvarez, who are under contracts with different promoters; both sides would need to exert significant efforts. They would need to conduct promotional negotiations, agree on fees, and at the same time align the match with various organizations (WBA, WBC, IBF, and so forth).
Promoters pay sanction fees, coordinate with the Athletic Commission, scout judges, negotiate with the media, with the venue, launch advertising campaigns, and strive to promote the fight. Organizing any major bout is a labor-intensive and lengthy process, and fans only see the tip of the iceberg, then wonder why a high-profile fight fell through.
If PIF manages to convince promoters that this benefits everyone, the path will be shortened. Representatives of the new league directly contact the heads of promotional companies, request information about a specific boxer on a certain date, and offer a sum that suits everyone.
Two boxers fight for the belt of the new league and a good paycheck. All expenses for the fight are covered by Saudi Arabia, as it has been done before. For example, without the influence of the sheikhs, it was challenging to arrange a fight of the caliber of Oleksandr Usyk and Tyson Fury. But rich people stepped in and covered all the costs. Fans are happy, boxers and promoters are happy too. Some earn, others enjoy the show.
The PIF says that it can allocate $4-5 billion as investment for the project. Such a sum would allow agreements with key promoters and cover the costs of organizing major boxing events.
Most likely, PIF already has a contract with a specific channel or streaming service where boxing tournaments will be broadcast. Promoters will default to the proposed option outlined in the contract, as well as the profit distribution from PPV. He who pays the piper calls the tune.
If the Saudi sheikhs do manage to make a deal with leading promoters, the process of organizing fights will become much simpler. Boxers will fight for another "super champion" belt, receive a substantial paycheck, companies will remain in the black, and we can enjoy top-notch boxing.
Yes, for most viewers, the creation of a super league would also be a positive event. It is very difficult for inexperienced boxing fans to navigate the multitude of organizations and championship versions. The sheikhs plan to arrange fights among the world's strongest boxers without unnecessary complications.
Lately, Saudi Arabia has been making a big bet on boxing, and establishing their own league is another step to attract maximum interest in the country.
