Turki Alalshikh and UFC CEO Dana White are officially getting into the boxing business together.
Alalshikh, the chairman of Saudi Arabia's General Entertainment Authority, and TKO Group Holdings, the parent company of the UFC and WWE, have agreed to a multi-year partnership to form a new boxing promotion, it was announced Wednesday.
White and WWE president Nick Khan will lead the executive team, providing "day-to-day operational expertise, management, and oversight of the promotion," according to a press release.
The deal is also in conjunction with Sela, an entertainment company owned by Saudi Arabia's Public Investment Fund.
A launch date for the organization wasn't announced.
"This landmark partnership between industry powerhouses sets the stage for an unparalleled experience for boxers and fans," Alalshikh said. "Together, we are developing the next generation of talent and delivering world-class events at a time when the sport is primed for further disruption."
Mark Shapiro, the TKO president and COO, called the deal "a strategic opportunity to reimagine the sport of boxing globally."
"TKO has the deep expertise, promotional prowess, and longstanding relationships. Turki Alalshikh and Sela share our passion and vision for evolving the current model," Shapiro said. "Together, we can bring the sweet science back to its rightful place in the forefront of the global sports ecosystem."
While details about the promotion are scarce, White shed some light on the format.
"The model is proven to deliver the fights that the fans want to see," White said in a video posted to X. "The best will fight the best, and the fighters will continue to move up the rankings and become world champions."
The new promotion will use "a highly structured system," including athlete combines and academies, to develop new talent, per the release. Boxers signed to the promotion will have access to the UFC Performance Institutes in Las Vegas, Mexico City, and Shanghai, where they can train and seek guidance on rehabilitation and nutrition.
Additional details about the promotion - including event schedules, fighter signings, media rights deals, and locations - have yet to be announced.
