TKO Group Holdings, owner of UFC and WWE, has partnered with Saudi Arabia to launch a new boxing promotion. Although details of the league remain unclear, TKO will manage operations with key leadership from UFC and WWE executives. Saudi Arabia has significantly invested in boxing to diversify its economy, but faces criticism regarding its motivations, including allegations of ‘sportswashing.’

TKO Group Holdings, the parent company of UFC and WWE, has initiated a new boxing promotion with substantial backing from Saudi Arabia. Leading this initiative is Turki Alalshikh, who chairs Saudi Arabia’s general entertainment authority and is pivotal in the Kingdom’s investment in boxing over recent years. TKO and Saudi officials have confirmed a multi-year partnership aimed at establishing this new boxing league, although specifics regarding its format and participating athletes remain uncertain.

The TKO Group, which recently merged UFC and WWE under a £17.3 billion agreement, plans to oversee the daily operations of the new promotion. Notably, Dana White, UFC’s president, along with Nick Khan, WWE president and TKO board member, will occupy executive leadership roles within this initiative. Mark Shapiro, TKO’s president and COO, emphasized the venture’s potential to transform boxing on a global scale.

Saudi Arabia’s influence in boxing has surged lately, hosting major events including Tyson Fury’s high-profile matches against Oleksandr Usyk. The country has showcased boxing events internationally under the ‘Riyadh Season’ initiative. Since 2021, Saudi Arabia has invested approximately £5 billion in various sports sectors, aiming to reduce its economic reliance on oil.

Despite these efforts, some observers criticize the Kingdom’s spending, suggesting it may serve as a tool for ‘sportswashing.’ This term refers to the use of sports investments by countries to improve their global image and divert attention from human rights concerns. Other investments have included the controversial LIV Golf League, supported by Saudi Arabia’s Public Investment Fund, which has garnered scrutiny for similar reasons.

The collaboration between TKO Group Holdings and Saudi Arabia marks a significant development in the boxing world, with potential repercussions for the sport’s future landscape. As TKO assumes a managing role with robust management, the anticipated new boxing promotion may reshape global perceptions of boxing. However, the ethical implications surrounding Saudi Arabia’s investments, termed ‘sportswashing,’ warrant ongoing scrutiny as the Kingdom seeks to redefine its international image through sporting ventures.

Original Source: www.bbc.com

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