Skip to content Skip to Search
Skip navigation

Saudi Arabia signs deal with TKO for boxing promotion

By Gavin Gibbon
Vergil Ortiz Jr fights Israil Madrimov in a World Boxing Council bout at anb Arena in, Riyadh. The new Saudi-US plan hopes to reduce the amount of boxing organisations Reuters
Vergil Ortiz Jr fights Israil Madrimov in a World Boxing Council bout in Riyadh. The new Saudi-US plan hopes to reduce the amount of boxing organisations
  • TKO is US media group
  • Plans to consolidate governing bodies
  • Part of Saudi sporting investment

Saudi Arabia could land a blow to boxing traditionalists after the launch of a new promotion.

TKO Group, the US media conglomerate that has World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) under its banner, has entered a multi-year agreement with the Saudi General Entertainment Authority, vowing to implement widespread changes to how boxing is run.

The promotion will be led by UFC president and chief executive Dana White and WWE president and TKO board member Nick Khan.

“I’m looking forward to implementing changes that I think will definitely help the sport, simple things like ‘the best fighting the best’,” White told ESPN. 

“What I would love to do is build this thing from the ground up the way we did with the UFC.” 

Boxing is governed by four different bodies – the World Boxing Association, World Boxing Council, International Boxing Federation and World Boxing Organization.

White said he would look to draw that down to just one, with a single champion for each weight division.

As managing partner, TKO will be responsible for the day-to-day operations of the promotion, which will be run in partnership with Turks Alalshikh, chairman of the Saudi General Entertainment Authority, and Saudi Arabian entertainment company Sela. Sela is a subsidiary of the Public Investment Fund, the kingdom’s $925 billion sovereign wealth fund.

“Today marks a new chapter in boxing history. I’m thrilled about this great partnership with those I consider the best for the sport. Together, we will elevate it to new heights,” Alalshikh wrote on social media site X.

Saudi Arabia has become a major player in boxing, hosting top fights including world heavyweight champion Oleksandr Usyk and Tyson Fury.

It forms part of the country’s push into sports, which includes investments in football, golf, tennis, Formula 1, cricket, esports and basketball.

Latest articles

Side view of professional female IT developer from Middle East coding at ease on laptop while sitting at workstation with several computers in office

Gulf digitalisation growth barely moving needle in productivity

Improvements in the availability and quality of digital infrastructure and services have yet to impact productivity growth in the Gulf economies in any meaningful way, according to IMF officials, past and present. The digitalisation of government services – through online portals for administrative tasks or e-procurement platforms – as well as the advent of tele-health […]

Saudi people in the bird and poultry market, Najran Province, Najran, Saudi Arabia

Poultry producer Entaj to list on the Saudi Stock Market

The Arabian Company for Agricultural and Industrial Investment (Entaj) will list on the main market of the Saudi Tadawul on Monday with a share price of SAR50 ($13.30). It will be the fourth company to list on the main Saudi market in 2025 after the beauty ecommerce company Nice One and health care group Almoosa […]

Jordan's capital, Amman. It buys or sells gold reserves almost every month, more frequently than its Mena peers

Jordan most active gold trader as Mena states adjust holdings

Middle Eastern states are upping their trade in gold as price shifts create opportunity. Qatar, Egypt and Jordan have all bought sizeable amounts of gold in recent months, according to data from the World Gold Council and official announcements. Qatar and Egypt increased their holdings by 1.2 and 0.5 tonnes respectively, March data from the […]

Most areas of Syria receive electricity for only a few hours each day and substantial infrastructure repair is needed

Qatar to supply Syria with natural gas to ease power crisis

Qatar has signed an agreement to supply natural gas to Syria via Jordan, a significant step towards addressing the war-torn nation’s energy crisis.  The agreement, signed between Qatar Fund for Development (QFFD) and Jordan’s energy ministry, in collaboration with the United Nations Development Programme, will contribute to generating up to 400 megawatts of electricity daily […]

People sitting on bicycles look on amidst flood water following heavy rainfall, in Dubai, United Arab Emirates, April 19, 2024

Ominvest 2024 profits hit by insurance subsidiary losses

Losses at an insurance subsidiary caused by the deadly floods that struck Oman and the UAE last year hit profits at Oman International Development and Investment Company (Ominvest), a large listed holding company. Ominvest reported net profit of $96 million in 2024, down 7 percent year on year from $104 million in 2023. The company’s […]

A ferry from the Turkish resort town of Bodrum arrives in Kos, Greece. Greece is one of the most popular destinations for Turkish travellers

Turks turn to credit cards for foreign purchases

Turks are increasingly using credit cards to buy goods and services abroad, as inflation and taxes eat away at their buying power at home.  Turkish people used their credit cards more than 380 million times for overseas purchases last year, spending $11.5 billion, according to a new report by the central bank’s Bankalarası Kart Merkezi […]

EGA, one of the world's largest aluminium producers, said on Wednesday volatility in aluminium prices is expected to continue in 2025

UAE aluminium exports to US jump ahead of tariffs

The UAE’s exports of aluminium to the US jumped in the first 11 days of March, data from the US Department of Commerce showed, as buyers stocked up on shipments from their second-biggest supplier before the US tariffs took effect on Wednesday. So far in March, the UAE exported 68,560.29 metric tonnes of aluminium to the […]

Government officials and company executives at the foundation stone laying ceremony of Sofitel Legend Pyramids Giza

UAE to fund new luxury hotel near Egypt’s Giza pyramids

The UAE will back the development of a five-star hotel near the pyramids in Giza outside the capital Cairo to support Egypt’s tourism, state-run Wam news agency reported. State-backed Abu Dhabi Fund for Development (ADFD), which specialises in development financing at below market rates, will provide AED440 million ($120 million) to build a 302-key Sofitel […]

Coil, Spiral, Wire

Morocco probes alleged dumping of Egyptian and UAE steel wire

Morocco has started an investigation into the alleged dumping by Egyptian and Emirati producers of galvanised steel wire used in agriculture and industry, according to local media. The investigation comes after Moroccan companies complained that Egyptian and UAE steel wire is being dumped at below market rates in the Moroccan market, Morocco World News reported. […]

Brooge's flagship facilities are located in Fujairah, the world’s second-largest bunkering and emerging storage hub

Gulf Navigation buys Nasdaq-listed Brooge Energy

Dubai-listed Gulf Navigation Holding is building its presence in the midstream oil and gas and logistics sectors following the acquisition of a Nasdaq-listed oil refining and storage company. Shareholders on Thursday approved the buying of assets and companies owned by Brooge Energy Limited, the company said in a statement to the Dubai stock exchange. This […]

Saudi china oil

Chinese demand for Saudi crude to drop 13% in April

Shipments of crude oil by Saudi Arabian to its biggest customer, China, are expected to drop in April to their lowest in more than a year, trade sources said on Thursday, partly due to maintenance at Chinese refineries owned by Sinopec. Saudi Arabia allocated about 35.5 million barrels of oil in April to its Chinese […]