BOXING
Eddie Hearn “open to all conversations” amid rumors of $5 billion Saudi boxing takeover
With the rumors that Turki Alalshikh is staging a Saudi takeover of boxing, Matchroom’s Eddie Hearn refuses to dismiss concerns by boxing fans.
In recent years, the Saudi Arabian boxing scene has gone from non-existent to now a major player.
On August 3, Turki Alalshikh will launch their first foray into the US boxing market with an enormous card in Los Angeles headlined by Terence Crawford and Israil Madrimov. Six weeks later will see the Saudi promoter dip his toe into the UK’s market with what could be a mega-fight with the potential to sell 100,000 tickets as Anthony Joshua and Daniel Dubois clash in Wembley Stadium.
Oscar De La Hoya expressed his disgust at the prospect of a Saudi-controlled boxing scene and rumors have steadily circulated that Alalshikh was interested in creating a UFC-style organization for the sport. Now Eddie Hearn has spoken out on the subject.
In answering the rumors that Alalshikh was in the market to actually purchase four of the biggest boxing promotion companies in the world, Hearn said, “It would be unwise of me to comment too much, only that I am open to all conversations that benefit the sport, the fighters, the fans and our company.”
Continuing the idea, the Matchroom chief said, “Some of what was reported had substance, some of what was reported didn’t. I think His Excellency’s plans for the sport are incredibly exciting, incredibly ambitious and also very smart. I think he sees a world where boxing can come together to make the best fights more consistently, which would be tremendous news for the sport and tremendous news for fight fans.”
Matchroom Boxing, Queensberry Promotions, Premier Boxing Champions and Top Rank are all rumored to be targets for the immense wealth of Saudi Arabia, with a concept of creating a new boxing league, based in Riyadh. The Saudi capital has already hosted virtually every major fight of the last few years, including Anthony Joshua’s last two bouts and the heavyweight unification fight between Tyson Fury and Oleksandr Usyk last month.
The value of Matchroom Boxing is tentatively placed around $1 billion, and the completion of this dream by Alalshikh would cost somewhere in the ballpark of $5.1 billion, a price that would not dissuade the Saudi backers in the slightest.
But Eddie insisted that this was not all about money. “For me, it’s not just about the money, it’s about the strategy and the opportunity, and it’s about the fun. If there’s an opportunity to create history and legacy in the sport and really change the face of it, and have fun week in, week out, then I’m all ears. I’m always open to evolving and looking for different opportunities.”