Terence Crawford secured a unanimous decision victory over Canelo Álvarez at Allegiant Stadium in Las Vegas on 13 September, in a fight conceived, financed and marketed by Turki al-Sheikh, chairman of the Saudi General Entertainment Authority, and Dana White, president of the UFC. The event was intended as a foundation stone for their plan to make Zuffa Boxing, a company controlled by their interests, the dominant force in professional boxing.
Boxing has moved away from a self-sustaining business model, becoming reliant on 'big losers' such as investment firms and streaming platforms. HBO’s boxing programme declined after the departure of its architects, and Showtime has since exited the sport. The Saudi General Entertainment Authority has poured vast sums into boxing, changing the economics of the sport and stepping into a void left by traditional American broadcasters.
The Saudi boxing programme began with fights in 2018 and expanded through Riyadh Season, hosting bouts featuring Anthony Joshua, Oleksandr Usyk, Tyson Fury and others. In November 2024, Sheikh purchased The Ring magazine, giving him control over its belts and rankings, while Saudi interests acquired a billion-dollar stake in DAZN. Critics of the Saudi programme have faced credential denials and content alterations.
Zuffa Boxing, backed by Saudi capital and UFC expertise, now aims to restructure the sport’s business model, though the long-term sustainability of such investment remains uncertain given the red ink that has characterised recent boxing ventures.
