The Public Investment Fund (PIF), the sovereign wealth fund of the Kindgom of Saudi Arabia, is “in discussions with multiple boxing stakeholders to create a league, potentially reshaping the competitive landscape of the sport,” Reuters has unveiled in an exclusive report. The discussions involve promoters like Matchroom Boxing and Golden Boy Promotions and could result in a deal valuing the new entity at $4 to 5 billion, explains the report. PIF would take a minority stake, with the main sport’s organizers entering into a joint venture. The details of how a league would be structured are yet unknown, said Reuters.
The sport is currently organized around four boxing bodies: the World Boxing Council (WBC), the International Boxing Federation (IBF), the World Boxing Association (WBA) and the World Boxing Organisation (WBO). Each organization has different rules for championship belts.
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