Riyadh, Saudi Arabia – According to Reuters and confirmed by Bloomberg, the Saudi Public Investment Fund (a fund managed by the Saudi government) has a deal targeting the purchase of Golden Boy promotions, an outfit owned by retired Chicano boxer, Oscar de la Hoya, and Eddie Hearn’s Matchroom Boxing.
Riyadh’s is the home of the Public Investment Fund (PIF). The PIF is considering creating a new professional boxing league that could upheave the established order in the sport. The Saudi Arabian minister of tourism and now sports chief, Turki Alalshikh, is reportedly eyeing the possibility of acquiring companies such as Matchroom, Top Rank, PBC, Golden Boy, and Queensberry Promotions to fuse into a single boxing league — a shift that would radically alter the landscape of boxing, potentially worth an estimated $5 billion.
Notably, the Premiere Boxing Champions promotional outfit has already faced financial trouble. Thus, if the Saudi government’s investment fund hopes to acquire outfits, perhaps, starting with the weakest links and gradually squeezing out promoters is likely.
Investments Amid Controversy and Questions
However, some boxing enthusiasts express concerns over the implications. There are fears that the sport could be subverted for the sole promotional discretion of the country of Saudi Arabia. For some rights groups, the country’s entrance into the sporting world is merely a means to legitimize its international image, while others worry that shifting boxing’s center to Saudi Arabia could be detrimental to the sport too.
Nevertheless, some fans feel that the merger could lead boxing back to its “glory days” by unifying the top categories under one umbrella, allowing the most exciting matches to be showcased globally. Subsections: “Skepticism about the Implementation” Critics suggest that the initiative, similar to an MLB or NFL team structure, may not be feasible for boxing. Rather than individual fighters gaining acclaim, it would force them to sign with teams or promoters — a concept some find unworkable. The outcome remains uncertain but, without a doubt, the proposed changes could be the most significant to boxing in recent times.