New York Times: Saudi Arabia’s Next Billion-Dollar Sports Play: A Boxing Takeover

[dookus]

https://www.nytimes.com/2024/06/12/world/middleeast/sa

An ambitious and expensive Saudi plan that would reshape the economics, structure and future of boxing is in the final stages of approval, according to two people with direct knowledge of the plan.

Saudi Arabia’s giant sovereign wealth vehicle, the Public Investment Fund, would finance the project. The fund is holding final negotiations about dispersing the initial investment — said to be as much as $2 billion — that the plan would require, according to the two people involved in the planning. Both people declined to be identified because the project does not have final approval.

The Public Investment Fund, known as the P.I.F., declined to comment.

Under the Saudi proposal, about 200 of the top men’s boxers in the world would be signed and then divided into 12 weight classes in what would amount to a global boxing league.

Each class would include about 15 fighters each, allowing the best talents to regularly face off. The move would effectively create a single boxing entity that would replace the sometimes chaotic and frustrating system of dueling promoters and warring sanctioning bodies. The new entity would have the resources, and the fighters, to stage high-profile cards around the globe.

And unlike many of the sports Saudi Arabia has previously attempted to disrupt, professional boxing may be ripe for reimagining. The sport has lost its luster and some of its allure in recent decades and is currently run by a tangled web of rival promoters and disparate sanctioning bodies that arrange their own fights and award their own titles. That leaves fans to sift through a confusing system that frequently stymies meetings between the best boxers and one that boasts multiple “champions” in the same weight classes.

Who'da seen it coming eh

[margaret thatcher]

all hail our excellent overlords

[tony1234]

The same as they want with a football super league, it doesn't work out unless they have a plan to bring in new fighters as others get beaten/retired etc.
More fights abroad, less big fights here, will ruin the game for many

[Ezzard]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

[MightyWarrior]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

they could get round this problem by publicly executing any fighter that decided to do this.

[gilgamesh]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

I suspect they'll have to be ok with the idea of promoting some big fights outside of Saudi Arabia. I know Canelo has turned down offers from them, and I wouldn't doubt that in some of these guys' cases. Someone that already has 10's of Millions in the bank, you're talking to a guy that you couldn't pay enough to go to Saudi Arabia.

[margaret thatcher]

they already got a usa card and look to be making one for uk later this year

[Bercli]

they already got a usa card and look to be making one for uk later this year

Sports washing is the future whether we like it or not. How long before a Premier league game is played in Saudi? Tennis,Golf,football,boxing. Only a matter of time imo

[SeanBrennan]

they already got a usa card and look to be making one for uk later this year

saw this re the UK card, fair play if they do it.

[Ruthless-RKO]

they already got a usa card and look to be making one for uk later this year

saw this re the UK card, fair play if they do it.

Yeh, hes branching out for sure. So not everything in Saudi

[Ezzard]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

they could get round this problem by publicly executing any fighter that decided to do this.

That could work. But only if they price the PPV right.

[Ezzard]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

I suspect they'll have to be ok with the idea of promoting some big fights outside of Saudi Arabia. I know Canelo has turned down offers from them, and I wouldn't doubt that in some of these guys' cases. Someone that already has 10's of Millions in the bank, you're talking to a guy that you couldn't pay enough to go to Saudi Arabia.

If a talent decides to take easier fights for a contract with a different promoters...

[polecateddy]

It’s likely all part of the country’s plan to reduce oil sale reliance, which is half of their economy and 70% of their exports. I’m not sure anyone genuinely believes they will ever stop, but this scheme seems part of ‘the plan’.

[CaptainSpacerod]

It can’t come soon enough

Sure there may be teething problems with some fighters not wanting to participate but on the whole it will be so much of an improvement on the current joke state of boxing

[Tony1244]

A lot of people love to point out atrocities committed by Israel and the West but don't think twice about supporting the government of Saudi Arabia by buying the PPVs. Yes, Israel has committed war crimes as has the US and most European countries historically.

Boycott Israel due to its outrageous treatment of Palestinians in a war, but Saudi Arabia tortures, kills, and imprisons marginalized communities in their own country with no war. "Marginalized communities" in the West are yapping on Twitter, FB, and Instagram, while in the Kingdom they are being tortured in prisons.

[TBA]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

It only really matters about controlling the Heavyweight division. That's where the casual interest and global appeal is.

For every other division they can just continue to have all the super fights happening under them.

[KiwiRider]

Yet again they completely skip over the grass roots.
Boxing is nothing without the small gyms guys like Joshua and Crawford and everyone else started in.
You can't keep throwing money at just the pointy end of a sport and expect it to flourish.
It's the most short sighted plan imaginable.

[SeanBrennan]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

It only really matters about controlling the Heavyweight division. That's where the casual interest and global appeal is.

For every other division they can just continue to have all the super fights happening under them.

interesting take. I think there's other weights that are massive and will have real financial and fan weight.

[1684910]

Yet again they completely skip over the grass roots.
Boxing is nothing without the small gyms guys like Joshua and Crawford and everyone else started in.
You can't keep throwing money at just the pointy end of a sport and expect it to flourish.
It's the most short sighted plan imaginable.

Absolutely! Ignoring grassroots in favor of high-profile investments is short-sighted. Supporting small gyms and local talent is crucial for the sport’s growth and sustainability. Grassroots build the foundation.

[margaret thatcher]

the saudis supposed to fund your local abc or something?

[Counter-puncher]

Hmmmm... Love the idea. But it only really works if they capture every talent in the divisions. Only takes one Roid Jones to take a contract to fight postmen and binmen outside of this idea and then it just becomes another splinter org.

they could get round this problem by publicly executing any fighter that decided to do this.

[handsofstone]

There's something on BBC 2 tonight at 9 about the Saudis, doubt boxing will get a mention but will be worth a watch

[coneye]

Suppose its worth a go , problem is though it may make boxing too elitist , to hard to crack the big time when nepotism and favortism start rearing there ugly heads , then again suppose that happens now .

If it gets the best boxng the best i'm all for it

[dookus]

https://www.nytimes.com/2024/06/12/world/middleeast/sa sprunki

An ambitious and expensive Saudi plan that would reshape the economics, structure and future of boxing is in the final stages of approval, according to two people with direct knowledge of the plan.

Saudi Arabia’s giant sovereign wealth vehicle, the Public Investment Fund, would finance the project. The fund is holding final negotiations about dispersing the initial investment — said to be as much as $2 billion — that the plan would require, according to the two people involved in the planning. Both people declined to be identified because the project does not have final approval.

The Public Investment Fund, known as the P.I.F., declined to comment.

Under the Saudi proposal, about 200 of the top men’s boxers in the world would be signed and then divided into 12 weight classes in what would amount to a global boxing league.

Each class would include about 15 fighters each, allowing the best talents to regularly face off. The move would effectively create a single boxing entity that would replace the sometimes chaotic and frustrating system of dueling promoters and warring sanctioning bodies. The new entity would have the resources, and the fighters, to stage high-profile cards around the globe.

And unlike many of the sports Saudi Arabia has previously attempted to disrupt, professional boxing may be ripe for reimagining. The sport has lost its luster and some of its allure in recent decades and is currently run by a tangled web of rival promoters and disparate sanctioning bodies that arrange their own fights and award their own titles. That leaves fans to sift through a confusing system that frequently stymies meetings between the best boxers and one that boasts multiple “champions” in the same weight classes.

Who'da seen it coming eh

Unlike established sports like soccer or tennis, where organizations like FIFA and the ATP wield centralized control, boxing is a free-for-all. This chaos creates an opportunity for a well-funded entity to step in and take over. By signing the top 200 fighters and organizing them into a global league, Saudi Arabia could create a system where fans no longer have to navigate the maze of rival promoters and belts.

Thanks very much for your comments, ChatGPT

[Autobarn]

The thing is that major powers, such as Canelo, are very unlikely to go along with this. Also, I can't imagine Mayweather putting the likes of Gervonta Davis - a guy big at his weight who likes to shine against smaller opponents - in. There's always going to be some form of separation or division or exclusion, especially those with something to protect. The A sides who can use Sugar Ray Leonard style handicapping. Not saying I like this, but boxing is supposed to be free market.

I don't mind the Saudis putting extra money in to ensure those difficult fights are made. The extra money for Fury and Usyk, and Beterbiev and Bicol. But as we know, there is no thought for developing at the grassroots level.

Above all, it's probably not great to have a monopoly, all the top fighters with one promoter who also bought the main boxing magazine. Obviously, Saudis don't develop a lot of skills over there and they like to buy the talent.