In a groundbreaking move, TKO Group Holdings, the parent company of UFC and WWE, is gearing up to expand its sports portfolio. In collaboration with Saudi Arabia’s Public Investment Fund (PIF), they plan to launch a new boxing league.
According to the New York Times, Sela, a subsidiary of the Saudi PIF, will serve as the major investor in this venture. TKO will manage the league, with UFC President Dana White poised to be the managing partner. In return for their services, TKO has been offered an equity stake, a share of the revenue, and an annual management fee of approximately $30 million.
Official Announcement Expected Soon
The report indicates that TKO could finalize the partnership within weeks, though TKO has not yet made an official announcement. This timing aligns with the expiration of UFC’s US TV media rights deal with ESPN later this year. TKO may bundle the new boxing league’s rights with UFC’s media rights to maximize its market potential.
Saudi Arabia has recently hosted some of the most significant boxing matches in history, including the historic clash between Oleksandr Usyk and Tyson Fury. Usyk’s victory crowned him the first undisputed heavyweight champion in over two decades. These events highlight Saudi Arabia’s growing influence in the global boxing arena.
The Kingdom views these initiatives as part of its broader strategy to diversify its economy and enhance its global reputation through sports and entertainment.
A New Chapter for Combat Sports
This partnership marks a significant milestone for both TKO and Saudi Arabia, as they aim to reshape the combat sports landscape. With Dana White at the helm and substantial financial backing from Sela, the new boxing league promises to deliver high-profile matches and attract global audiences.
