Saudi Arabia is eyeing a grand leap into the sporting arena, with reports that it aims to establish a new boxing league in partnership with TKO Group Holdings, Endeavor’s wholly-owned company and operator of both the Ultimate Fighting Championship and World Wrestling Entertainment. According to The New York Times,.
As part of the agreement, Saudi Arabia’s Public Investment Fund will provide financing through events company Sela into the burgeoning competition aimed to incubate young boxers who in turn will go on to exclusively fight for the league. TKO Group is slated to take equity in the endeavor along with a cut of the revenues, as well as for UFC president Dana White to hold the mantle of managing partner.
If the deal is sealed, TKO could see management fees of almost US$30-million annually. League hosting fees are expected to surpass those of any other country, with estimates suggesting a couple of events could pull in upwards of $40-million in fees. More fights would take place in the United States and Europe.
This comes off the heels of WWE clearing its calendar to confirm the 2026 Royal Rumble for Riyadh-a first-ever staging of the event outside North America. Saudi Arabia has already hosted several big WWE events like Crown Jewel and Elimination Chamber. The UFC, too, is set to return to Riyadh next month with an event after making its debut in the country last June.
But setting up a boxing league in cooperation with the TKO Group Holdings will surely rise the accusations of ‘sportswashing’ against the kingdom. Saudi Arabia’s aggressive investments in professional sports, say critics, serve to gild the country’s image before the world as it detracts attention from its controversial record of human rights. Notably, Saudi football clubs have been making headlines for spending big to bring in top-notch players like Cristiano Ronaldo and Karim Benzema to their Pro League.
In addition to boxing, Saudi Arabia signed a three-year deal with the Women’s Tennis Association to hold the WTA Finals until 2026. The Saudi state tennis federation ambassador is tennis star Rafael Nadal, and FIFA has given the country rights to host the 2034 World Cup.
The Public Investment Fund also owns the LIV Golf tour, home to some of the world’s elite golfers. As Saudi Arabia continues in its transformation of sporting investments, the challenge for it will be to shake off perceptions that these initiatives could be a case of legitimizing a regime that faces serious allegations of human rights abuses.
