TKO Group Nears Agreement with Saudi Arabia for New Boxing League

TKO Group Holdings, the parent company of UFC and WWE, is nearing an agreement with Saudi Arabia to create a new boxing league, as confirmed by COO Mark Shapiro during an earnings call. The proposed league would be funded by Saudi investors, with TKO managing day-to-day operations without any financial risk, receiving a fee of over $10 million. Shapiro noted that TKO would also oversee four high-profile boxing events over the next few years. UFC President Dana White and WWE President Nick Khan are expected to play significant roles in the new venture, which aims to capitalize on Saudi Arabia's recent investments in combat sports. Speculation about White's interest in boxing has been prevalent, and this move could mark his entry into the boxing promotion arena. The ongoing negotiations highlight Saudi Arabia's growing influence in the boxing world, having hosted major bouts in recent years.