The sport of boxing, with its roots dating back to 688 BC in the 23rd Olympiad during Ancient Greece, holds a unique place in the history of mankind. These early contests, believed to have no set number of rounds, were a testament to the raw, unadulterated spirit of competition, where a winner would only be crowned if the other man acknowledged defeat.
Fast-forward to modern times. Both men and women step into the ring with hopes of earning a living. A very small percentage of boxers fulfill their actual dreams of becoming world champions and ‘prizefighters’. Legends of the sport, such as Mike Tyson, Floyd Mayweather Jr., Oscar De La Hoya, and Manny Pacquiao, fit these labels.
These are all fighters who successfully held world titles in their respective weight classes and went on to fight for incredible amounts of money. Highly touted names in boxing generally take home a large percentage of revenue from events compared to other combat sports structures like mixed martial arts, primarily the UFC.
Boxing’s Competition Against MMA
In the early days of the UFC’s partnership with SPIKE TV, it was never believed that MMA could one day surpass the sport of boxing in terms of popularity and viewership. Just watch the classic ESPN debate segment between UFC commentator and Host of the most listened-to podcast in the world, Joe Rogan, and boxing promoter Lou Dibella.
However, there has been an apparent shift in the viewership landscape within the combat sports world, as the momentum seems to have sided with the UFC. This can be attributed to many variables, notably the fact that Dana White and the UFC are undoubtedly seen and treated as the premiere mixed martial arts promotion in the world.
This allows White to run his promotion in the structure of a league like the NFL, NBA, or MLB, as he does not have to deal with independent promoters or contrasting bodies when scheduling events or fights. With a top-15 ranking system in place for every weight class, matchmaking is extremely smooth and easygoing.
This is a stark difference compared to the current governing bodies dynamic that boxing has to deal with. Whenever a certain super-fight in boxing should be made, there is typically some aspect of the business side of negotiations that, frustratingly, delays the biggest and best fights from happening, a source of significant discontent for boxing fans.
In boxing, there are four major world titles and organizations that coordinate the biggest events and fights, the WBC, WBA, IBF and WBO. This is in stark contrast to the straightforward approach of MMA promotions, which typically acknowledge one singular undisputed world title per weight class, a system that offers clarity and simplicity to fans.
These annoying recurring themes in boxing have rubbed many fight fans the wrong way over the years, leading to an evident shift in viewership from boxing to MMA.
Boxing’s Resurgence
However, boxing has recently seen a resurgence as Saudi Adviser at the Royal Court and positioned Minister and Chairman of the General Entertainment Authority Turki Alalshikh has dipped his hands into the fight business.
In his role as Chairman of the GEA, Alalshikh has made it a focal point in curating significant developments in sports and culture in Saudi Arabia. During his short time as a notable figure in boxing, Alalshikh has put together blockbuster events like Tyson Fury vs. Oleksandr Usyk for the first undisputed heavyweight world title in 25 years.
Alalshikh has publicly expressed his intention to address the perceived issues in the boxing industry. His vision seems to revolve around his ability to broker deals between conflicting parties, ultimately delivering the most exciting fights that fans crave.
The most recent installment of these blockbuster boxing events was the highly anticipated ‘Queensberry vs. Matchroom 5v5’. This event saw renowned promoters Frank Warren of Queensberry Promotions and Eddie Hearn of Matchroom Boxing and DAZN pit five of their top fighters against each other. The card featured heavyweight names like Deontay Wilder, Zhilei Zhang, Daniel Dubois, and Filip Hrgovic, creating a buzz in the boxing world.
Alalshikh now hopes to negotiate a deal for ‘the face of boxing’ Saul ‘Canelo’ Alvarez, to fight boxing’s current No. 1-ranked pound-for-pound fighter, Terence ‘Bud’ Crawford, by December this year or early January 2025.
The most recent development in Alalshik’s boxing history is centered around the idea that “The Saudi Arabia Public Investment Fund is in discussions with multiple stakeholders to create a league,” Reuters reported Tuesday. Stakeholders such as Golden Boy Promotions and Matchroom are involved in these discussions, and the newly formed league could be worth $4-5 billion.
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