Saudi Arabia’s Public Investment Fund (FIP) is in talks with several promoters interested in boxing to create a global league, which could change the competitive landscape of the sport.
The FIP is considering investing in a joint venture with some of the sport’s stakeholders that would feature more boxing matches, said the people, who spoke on condition of anonymity.
A handful of major promoters, including Matchroom Boxing and Golden Boy Promotions, are involved in talks that could lead to a deal that would value the new entity at between $4 billion and $5 billion, one of the sources said. The FIP wants to create a company that brings together the main sports organizers, in which it would take a minority stake, the informant added.
Turki al-Sheikh, a close adviser to Crown Prince Mohammed Bin Salman who was heavily involved in the sports sector and is chairman of Saudi Arabia’s General Entertainment Authority, was overseeing final discussions around a potential deal about a month ago. .
2024-06-12 14:40:49
#Saudi #Arabia #invest #World #Boxing #League #change #competitive #landscape #sport
