Follow usSaudi Arabia’s Public Investment Fund (PIF) is exploring the possibility of creation a new boxing league through discussions with several key stakeholders in the sport, according to sources familiar with the matter. The proposed league could significantly alter the competitive landscape of boxing.
The discussions involve prominent promoters such as Matchroom Boxing and Golden Boy Promotions, aiming to establish a joint venture that would feature more frequent boxing bouts.
🚨 BOXING LEAGUE IN THE WORKS?
Saudi Arabia’s Public Investment Fund is reportedly in talks with multiple entities including Matchroom and Golden Boy to create a league.
“PIF wants to create a venture that would bring the main sport’s organisers together” (@Reuters) pic.twitter.com/8NAwh0JA64
— EverythingBoxing (@EverythingBoxi2) June 11, 2024
The new entity could be valued between $4-5 billion, with PIF intending to take a minority stake while uniting major organizers under one umbrella. Turki al-Sheikh, an advisor to Crown Prince Mohammed bin Salman and chairman of the Saudi General Entertainment Authority, has been overseeing the final stages of these discussions.
While details about the structure of the league are still unclear, the move aligns with Saudi Arabia’s broader strategy to diversify its economy and reduce oil dependency. Under the Vision 2030 program, the kingdom aims to boost tourism, enhance the private sector, and create new job opportunities by investing billions into the sports sector.
Currently, the sport of boxing is governed by multiple organizations, including 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 championship rules. A new league backed by PIF could potentially streamline and centralize the sport’s structure.
