In a fresh investment venture, Saudi Arabia's sovereign wealth fund is reportedly in negotiations with TKO, the parent company of Ultimate Fighting Championship, to establish a boxing league designed to promote rising boxing talent. Following Donald Trump's recent re-election announcement at a UFC event, Yasir al-Rumayyan, governor of the Kingdom's Public Investment Fund, is poised to solidify this partnership. Discussions indicate a deal could be finalized soon, despite TKO's current denial of any announcements. This follows an earlier, complex attempt by the Saudi government to create a multibillion-dollar boxing league, which included efforts to consolidate the sport's various factions. The new league could potentially unite top boxers and provide them with exclusive exposure. Under the terms of this potential partnership, Sela, a subsidiary of the sovereign fund, will manage the new league, with TKO receiving equity and revenue-sharing benefits.
Saudi Arabia Eyes Boxing League Partnership with TKO
Saudi Arabia Eyes Boxing League Partnership with TKO
Saudi Arabia's Public Investment Fund plans to launch a new boxing league in collaboration with TKO, owner of the UFC, marking a significant move into professional sports.
This initiative underscores Saudi Arabia's ongoing strategy to diversify its economic portfolio through major investments in global sports over the last few years.
