Could Seismic Shifts in the Middle East Spell Trouble for Big Time Boxing?

With all eyes on the glitz and glamour of Las Vegas for the mega-fight between Ryan Garcia and Conor Benn, it's tempting to think that the future of big time boxing is healthy. But there is a strong possibility that the people bankrolling these huge fights, the Saudis, may soon become preoccupied by events on their doorstep.

In the last couple of days, Saudi Arabia has seen its enemies, the Houthis seize vast swathes of Yemen from the Saudi-backed government. It's likely the Houthis are now in a position to disrupt shipping in the Bab al-Mendeb Strait. Their backers, the Iranians already control the Strait of Hormuz, so Saudi Arabia could lose access to the two main channels it relies on to export its oil. 

If Saudi Arabia can't export its oil, its economy will start to collapse. Investing in sports around the world is part of a long-term plan to diversify the economy away from oil, but this will most likely be put on hold until the crisis is over. 

Even before this setback for the desert kingdom, the Saudi leaders pulled the plug on LIV Golf, because they could no longer afford to finance something that couldn't make a profit in the near future.

Zuffa, the outfit that's co-promoting the Garcia-Benn match, is financed by the Saudis. Its frontman, the UFC supremo, Dana White has plenty of money of his own, but even his wealth is insignificant compared to the resources of the Saudi Sovereign Wealth Fund.

The withdrawal of the Saudis won't ruin Dana, but it will dim his power and put the brakes on the takeover of boxing that he's currently undertaking.

Of course, boxing existed before the Saudis got involved, so surely it will continue afterwards? No doubt it will, but the reality is that many of the big fights of recent years would not have happened without the Saudis.

There is no way in the world that Frank Warren and Eddie Hearn would have shaken hands, let alone put on joint promotions, without Prince Turki Al-Sheikh.

There is no way that Tyson Fury would have been persuaded to accept the challenge of the "gap-toothed middleweight", Oleksandr Usyk, without Saudi money. Thanks to the Saudis, we got the first undisputed heavyweight champion for twenty five years. When there is a single king in the flagship division, the whole of boxing reaps the benefits.

I believe the Saudis have been a positive force in boxing and their possible withdrawal should be viewed with deep concern.