TKO Nears Agreement with Saudi Arabia for New Boxing League, Says Mark Shapiro

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TKO Group Holdings is finalizing an agreement with Saudi Arabia’s Public Investment Fund (PIF) to establish a new boxing league, according to TKO COO Mark Shapiro.

During the company’s 2024 earnings call, Shapiro detailed the structure of the potential deal, confirming that TKO would oversee production, promotion, and daily operations without providing financial capital. Instead, the company would receive a minimum $10 million annual fee and could earn equity over a five-year period, contingent on meeting performance benchmarks.

A TKO delegation, including CFO Andrew Schleimer, WWE President Nick Khan, and UFC COO Lawrence Epstein, recently met with Saudi representatives in London to advance negotiations. Shapiro indicated that while an official announcement is pending, discussions are nearing completion.

Additionally, TKO would promote and produce four major boxing events, with two expected to take place in 2025 and two in 2026. These may operate independently from the new league but would still involve TKO as the event operator.

UFC President Dana White has previously voiced interest in entering boxing promotion, while Saudi Arabia has solidified itself as a major boxing hub, hosting high-profile fights such as Tyson Fury vs. Oleksandr Usyk.