2024-06-12 14:40:49
Saudi Arabia’s Public Funding Fund (FIP) is in talks with a number of promoters curious about boxing to create a worldwide league, which may change the aggressive panorama of the game.
The FIP is contemplating investing in a three way partnership with a number of the sport’s stakeholders that might characteristic extra boxing matches, stated the individuals, who spoke on situation of anonymity.
A handful of main promoters, together with Matchroom Boxing and Golden Boy Promotions, are concerned in talks that would result in a deal that might worth the brand new entity at between $4 billion and $5 billion, one of many sources stated. The FIP desires to create an organization that brings collectively the primary sports activities organizers, wherein it will take a minority stake, the informant added.
Turki al-Sheikh, a detailed adviser to Crown Prince Mohammed Bin Salman who was closely concerned within the sports activities sector and is chairman of Saudi Arabia’s Common Leisure Authority, was overseeing last discussions round a possible deal a couple of month in the past. .