The company which owns the UFC and WWE has agreed a deal to launch a new boxing promotion alongside Turki Alalshikh, the chairman of the Saudi General Entertainment Authority.
TKO was the umbrella body formed by the merger of UFC and WWE in 2023. It has agreed a multi-year deal with the GEA and entertainment company Sela, which is the shirt sponsor for Premier League football club Newcastle.
A statement confirming the agreement said the new boxing promotion would “provide a premier platform for both leading boxers and prospects in the sport”.
Saudi Arabia already holds significant influence in boxing, having hosted and bankrolled major bouts in the Riyadh Season. The Saudi capital staged the heavyweight showdowns between Oleksandr Usyk and Tyson Fury in May and December last year.
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Other fights under the Riyadh Season banner have taken place outside Saudi Arabia, including last year’s contest between Daniel Dubois and Anthony Joshua.
TKO will manage the new promotion, under the “executive leadership” of UFC president Dana White and WWE president Nick Khan.
Mark Shapiro, TKO’s president and chief operating officer, said: “This is a strategic opportunity to reimagine the sport of boxing globally. TKO has the deep expertise, promotional prowess, and long-standing relationships.
“HE Turki Alalshikh and Sela share our passion and vision for evolving the current model. Together, we can bring the sweet science back to its rightful place in the forefront of the global sports ecosystem.”