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- Saudi Arabia is rumoured to be planning a £4 billion buyout of boxing.
- Eddie Hearn has not ruled out selling his promotional company, Matchroom Boxing.
- The promoters insisted they remained open to any discussions that would “benefit the sport”.
Eddie Hearn has responded to recent rumors that Saudi Arabian investment in boxing could significantly change the face of boxing as we know it. Saudi Arabia's boxing chief executive, Turki Al-Arshik, is reportedly interested in buying several promotional companies, including Hearns Matchroom Boxing, Queensberry Promotions, Premier Boxing Champions and Top Rank. The ultimate goal would be to establish a new boxing league funded by the Gulf state's vast coffers.
Alalsik's Saudi Arabia has had a major presence in boxing in recent years, with virtually every major bout taking place in the capital Riyadh, including Anthony Joshua's two recent bouts and last month's heavyweight unification bout between Tyson Fury and Oleksandr Usyk. The proposed Saudi-run league would feature 200 fighters across 12 weight classes, similar to how the UFC operates.
Eddie Hearn on rumours of a Saudi Arabian takeover of boxing
Mr Hahn has worked closely with the country on a number of events.
Hahn addressed the rumors in an interview. MMA Hour, “Some of the reports have had substance and some have not. I think His Excellency's plans for boxing are incredibly exciting, incredibly ambitious and very sensible. I think His Excellency sees a world where boxing comes together and produces the best matches more consistently. That would be great news for boxing and for boxing fans.”
“Something like this takes a lot of work, but if anyone can do it, it's His Excellency and Saudi Arabia. It would be unwise for me to comment too much, but I am open to any conversation that benefits the sport, the fighters, the fans and our company.”
When asked if he would be willing to sell Matchroom Boxing for the right price, Hearn said: “For me it's not just about the money. It's about the strategy and the opportunity and the fun. If there's an opportunity to create history and tradition in the sport and really change the face of it and have fun every week, I'm open to listening,” adding: “I'm always evolving and looking at different opportunities.”
Hearn has already sold part of his stake in Matchroom Boxing
Speaking with host Ariel Helwani, Hearn said that he and his father, Barry, have already signed an “investment agreement” with the company, and that they plan to list it on the stock market within the next three to five years. Interestingly, Hearn also suggested that the company's future will depend on what's best for boxing.
“It's about having fun. If there's an opportunity to build history and tradition in the sport, change the face of the sport and have fun every week, I'm all for it. But I also love what we do.” 1719514477″
Though Alarcik has been in the boxing business for a relatively short time, he has already made his mark on boxing history, playing a key role in organising the Fury vs. Usyk fight which saw the first undisputed heavyweight champion in 25 years.
Saudi Arabia will also help fund the Wembley Stadium bout between Anthony Joshua and Daniel Dubois, which could draw a record-breaking 100,000 spectators in September. History will ultimately judge the impact of Saudi Arabia's investment in boxing, but the game has changed in recent years and will continue to change.
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