TKO is reportedly close to launching a boxing league with the Saudi Arabia Public Investment Fund.
Tariq Panja and Kevin Draper of the New York Times report that TKO and the Saudi Arabia Public Investment fund are close to creating a boxing league. Citing sources familiar with the situation, they write that “a deal for what would be a new competition, featuring up-and-coming boxers tied exclusively to the league, could be announced within weeks.”
The report also includes a statement from TKO, who said that it had “nothing to announce”, but it would “evaluate any unique and compelling opportunity that could fit well in our portfolio of businesses and create incremental value for our shareholders.”
Additionally, sources said that TKO had been offered an equity stake and a share of the revenue. Panja and Kevin Draper write that TKO has reportedly been talking with other parties, including “other Arab nations”, about the boxing league as well.
The Saudi Arabia Public Investment Fund did not comment on the report.
WWE and UFC merged to form TKO Group Holdings (TKO) in September 2023.
