Saudi Arabia is further expanding into the sports world by planning a new boxing league. They are partnering with TKO Group Holdings, the company behind UFC and WWE, as per reports.
Sela to Invest in Rising Boxers
Saudi’s Public Investment Fund (PIF) owns the events company Sela. Sela will invest in the new league, focusing on upcoming boxers who will exclusively fight in this league. As part of the deal, TKO will receive an ownership stake and a share of the revenue. Meanwhile, UFC President Dana White will take on the role of managing partner.
TKO Could Earn Millions in Fees
If the agreement is finalized, TKO could earn nearly $30 million annually in management fees. Moreover, Saudi Arabia will pay higher hosting fees than any other country. Two planned events are expected to generate over $40 million. Additionally, more events will be hosted in the US and Europe.
Royal Rumble 2026 to Be Held in Riyadh
Following this, WWE announced that Riyadh will host the 2026 Royal Rumble. This marks the first time the event will take place outside North America. Previously, Saudi Arabia has hosted major WWE events like Crown Jewel and Elimination Chamber. Furthermore, the UFC will return to Riyadh next month after its debut there last June.
Accusations of 'Sportswashing' Persist
However, the partnership with TKO is likely to increase accusations of 'sportswashing' against Saudi Arabia. Critics argue that the country uses sports investments to enhance its global image and deflect attention from its human rights issues.
Heavy Investment in Sports
Saudi football clubs have recently signed top players like Cristiano Ronaldo and Karim Benzema. Additionally, the country has a three-year deal with the WTA to host the Finals until 2026. Rafael Nadal, a 22-time Grand Slam winner, serves as an ambassador for Saudi’s tennis federation. Furthermore, FIFA has awarded Saudi Arabia the rights to host the 2034 World Cup.
Saudi's Public Investment Fund Owns LIV Golf
In addition to these ventures, Saudi’s Public Investment Fund owns LIV Golf, which features some of the best players in the world. As Saudi Arabia continues to expand its sports investments, it faces the challenge of countering the perception that these efforts aim to legitimize its government amid human rights concerns.
