The Saudis Begin Plans For A Boxing League – ‘This Is Insane’
Saudi Arabia’s Public Investment Fund (PIF) wants to create a new boxing league that will pit the world’s best promoters against each other.
According to Reuters, the PIF is in discussions with Matchroom Boxing and Golden Boy Promotions. This would be a $4-5 billion deal, allowing fights to be made much easier, much like the UFC. The PIF would have a minority stake in such a venture. The league could change the structure of the sport, which is currently governed by the four major sanctioning bodies: IBF, WBA, WBC, and WBO.
“PIF is looking to invest in a joint venture with some of the sport’s stakeholders that would feature more boxing bouts. PIF wants to create a venture that would bring the main sport’s organizers together.”
Saudi Plans
The main problem fans have experienced is that the sanctioning bodies often do not make the biggest fights. Canelo Alvarez vs. David Benavidez still needs to be made. This is despite Benavidez being the WBC Super Interim Middleweight Champion for over two years. Canelo has not been ordered to face his mandatory, nor has he been stripped. Benavidez has now moved up to 175 pounds to box Oleksandr Gvozdyk, leaving doubts about whether the fight will happen.
Boxers also have to pay sanctioning fees. Errol Spence Jr., Andre Ward, Floyd Mayweather and Gervonta Davis have been outspoken against this, given that fighters are charged for winning world titles. This creates less of an incentive to keep hold of the belts. The sanctioning bodies have also been criticized for not having enough flexibility. Terence Crawford was stripped of his IBF belt at 147 after becoming the first Undisputed Welterweight Champion of the four-belt era after beating Spence.
He was stripped in around two months for not facing his mandatory Jaron Ennis, even though he was contracted to fight Spence in a rematch, which subsequently broke down. Oleksandr Usyk has also just become the Undisputed Heavyweight Champion by beating Tyson Fury. However, the IBF could strip him. He has a rematch with Fury on December 21. But his mandatory is Daniel Dubois. While Usyk has applied for an exemption, he could still be stripped.
Saudi Influence
The Saudis under Turki Alalshikh have put on the biggest events in boxing. Fury and Anthony Joshua have boxed Francis Ngannou. Fury vs. Usyk has also been made, with a rematch to come. Fans then saw a five vs. five tournament between Eddie Hearn and Frank Warren’s best fighters. And there is still the Undisputed Light Heavyweight Championship fight between Dmitry Bivol and Artur Beterbiev.
While the big fights are being made, there are worries that boxing will have a monopoly. Fighters and fans may now have to travel to Saudi Arabia for the biggest fights. The atmosphere has also been criticized, with Carl Froch speaking out. Although that may be the case, the Saudis are making cards outside the Kingdom. Terence Crawford vs. Israil Madrimov is set for August 3 in Los Angeles. There are also plans for a September card, which could feature Anthony Joshua vs. Daniel Dubois. With so many changes in boxing, fans have been talking about the future of their sport.
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