01/08/2025
A groundbreaking partnership between Saudi Arabia’s sovereign wealth fund and TKO Holdings—the parent company of World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC)—is reportedly on the verge of creating a new boxing league. According to The New York Times, the deal could be announced in the coming weeks and would signal a bold new step for both entities in the global sports and entertainment landscape.
Photo Credit: World Wrestling Entertainment
The venture is backed by the Public Investment Fund (PIF), Saudi Arabia’s powerful sovereign wealth vehicle that has fueled the nation’s ambitions in global sports. Yasir al-Rumayyan, the governor of the PIF, recently attended a TKO event, fueling speculation about the impending collaboration. The new league, which will exclusively feature up-and-coming boxers under exclusive contracts, will be managed by TKO in partnership with Sela, a PIF subsidiary.
The PIF’s prior attempt to create a boxing league through Turki Alalshikh encountered significant challenges, as securing the participation of major promotional outfits like Premier Boxing Champions (PBC) and Top Rank Boxing proved elusive. While those organizations have had fighters appear at Alalshikh-backed events, neither was willing to cede operational control. This new league appears to bypass these hurdles by focusing on young talent and leveraging the global reach of TKO’s WWE and UFC properties.
In a statement released to the New York Times on Wednesday, TKO said, “We have nothing to announce but would evaluate any unique and compelling opportunity that could fit well in our portfolio of businesses and create incremental value for our shareholders.” For TKO, the deal represents minimal financial risk, as Saudi Arabia will bear the costs of the venture. Mark Shapiro, TKO’s president, underscored this point in a November earnings call, saying, “If we were to get involved in boxing, we would expect to do so in an organic way, not an M&A way. We’re not writing a check.”
Under the terms of the proposed agreement, TKO will earn management fees nearing $30 million annually. Saudi Arabia is also expected to pay substantial hosting fees, with two fights in the kingdom projected to generate over $40 million. Additional bouts in the United States and Europe will see far lower hosting fees.
The potential partnership also signals a mended relationship between Endeavor, TKO’s parent company, and Saudi Arabia. In 2019, following the assassination of Saudi journalist Jamal Khashoggi, Endeavor returned $400 million in Saudi investment. However, recent collaborations—such as Saudi Arabia hosting the 2026 WWE Royal Rumble—suggest that ties have been largely repaired.
Photo Credit: Matchroom Boxing/Queensberry Promotions
This venture comes as Saudi Arabia continues its multibillion-dollar push to establish itself as a global sports powerhouse. The country has made massive investments in soccer, golf, and motorsports over the past five years, leveraging its financial clout to attract top talent and international attention.
Turki Alalshikh remains active in the boxing world through a separate initiative, the Boxing Grand Prix, a tournament for young fighters in partnership with the World Boxing Council (WBC). However, this tournament is distinct from the TKO-PIF collaboration.
With an official announcement expected in the coming weeks, the proposed league could reshape boxing by creating a global platform for rising stars. Whether the venture succeeds in realizing its ambitions remains to be seen, but the scale of investment and the strategic involvement of TKO suggest that the league has a strong foundation.
While TKO has been in discussions with other potential partners, including additional Arab nations, this venture with the PIF could be transformative for the sport of boxing. For TKO, the partnership represents an opportunity to expand its influence into a new arena with minimal downside.
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