Are the Saudis About to Pull Out of Boxing? What Will Happen if They Do?

The venerable "Bible Of Boxing", the Ring Magazine, was purchased by Turki Al-Sheikh for 10 million dollars just two years ago. Now there are reports from credible sources that he's in the process of selling it to the broadcaster, DAZN.

On its own, the sale doesn't indicate that the Saudis are looking to exit boxing. But when viewed together with other recent developments, it raises the suspicion that they could be.

Turki himself made some interesting comments at the launch press conference for Fury vs Joshua last week. He told those in attendance that "I will not be here long, I will leave after this." So we may see him walk away from boxing after the "Battle of Britain" on December 11th.

We know Turki has a serious illness.  He has a brain tumour that he says could make him unable to remember the Fury vs AJ match in two years' time. He says he may even forget his own name by then. 

But even without Turki's illness, there are factors that are forcing the Saudis to question their involvement with sport.

The conflict in the Persian Gulf has crippled their ability to sell oil. They have been trying to diversify their economy, but oil is still its main driver. Without those sales, they will lose their ability to plough huge amounts of money into sport, in the hope of securing a return on that investment some time in the future.

The Saudis pulled out of LIV Gulf in April, forcing it to file for bankruptcy. And the conflict has had a much more profound effect on their economy since then.

It was the American promoter Oscar De La Hoya who sold the Ring Magazine to Turki for 10 million dollars. He is rejoicing at the idea of them getting rid of it, because he thinks they turned it into a propaganda outlet. 

Of course Oscar rarely has very nice things to say about his competition. He also said that boxing would be healthier without the involvement of the Saudis. The big fights, he says, aren't happening, because the top fighters are all waiting for the enormous paydays the Saudis provide before they fight each other.

Oscar seems unaware that the big fights ARE happening and the Saudis ARE regularly paying incredible sums for them. Joshua vs Fury is a case in point. It would never have happened without the Saudis. The same goes for Fury vs Usyk and Canelo vs Crawford.

Of course, boxing will survive if the Saudis leave, but I believe it will be poorer for it.