Eddie Hearn has responded to speculation the Saudi Arabia Public Investment Fund could look to shake up the world of boxing with a $1.5bn investment.
Eddie Hearn has done nothing to dispel speculation the landscape of boxing could be changed beyond recognition before too long, as he indicated Saudi investment in the sport is not going to slow down.
Reports this week have suggested the Saudi Arabian Royal Family is looking to buy up a series of global promotional companies in order to create a new boxing league, which would be funded by the gulf station’s seemingly-endless wealth.
Boxing has essentially been taken over by Saudi Arabia in recent years, it’s hard to ignore the fact the vast majority of big-name fights have taken place there, including Tyson Fury’s historic undisputed fight against Oleksandr Usyk and four of Anthony Joshua’s last eight fights – including his two most recent bouts.
The Saudi Public Investment Fund has shown it’s eager to involve itself in sports in recent years, having most famously upset the golfing world by prizing a number of top players away to join the LIV Golf league. But now, it’s been reported by the New York Times that the PIF will invest as much as £1.57billion ($2bn) in creating a Saudi-run pro league.
Tyson Fury vs Oleksandr Usyk was the latest big fight to take place in Saudi Arabia (Image: Getty)
That investment would see the Saudi wealth fund signing 200 fighters and splitting them into 12 different weight classes. The proposal, which has reportedly not received the backing of Saudi government, would be similar to the business model of the UFC, which serves as the gold standard for mixed martial arts.
Now, Matchroom Boxing chairman Hearn has spoken out about the prospect of the Saudi league, and has indicated the reports are true. Speaking to Sports Illustrated, he explained: “Obviously a lot of these types of conversations have confidentiality around them.
“It was interesting to see various bits of information leak – some true, some not true. His Excellency Turki Alalshikh and Saudi Arabia are looking at a lot of opportunities within sport. He has a great mind and vision around where he thinks boxing should be… I think a lot of the plans they have are incredibly exciting.
“A lot of the stuff that was discussed which I can’t go too deeply into involves a lot of work. But if anybody can make it happen it’s probably Turki Alalshikh and Saudi Arabia.”
