WWE's parent company, TKO Group Holdings, is reportedly looking to launch a boxing organization with Saudi Arabia's Public Investment Fund. WWE merged with MMA outfit UFC in 2023 to form TKO after Endeavor's acquisition, with Professional Bull Riders (PBR) and IMG being brought under the umbrella since. UFC and WWE regularly run events in Saudi Arabia, with the latter striking a 10-year deal in 2018, before the formation of TKO. 

According to "The New York Times," a company owned by the Kingdom's PIF is close to creating a boxing league with TKO, and a deal to announce the new competition, featuring exclusively signed boxers, could even be announced within weeks. It was noted in the report that Saudi Arabia had previously attempted to establish a multi-million dollar boxing league. That effort, while not completely abandoned, had proven to be complicated and expensive. This new league will reportedly be invested in by Sela, a subsidiary of the PIF, with TKO due to operate as a managing partner in exchange for an equity stake and revenue share.

The deal would see TKO earn management fees of close to $30 million a year. Saudi Arabia is expected to pay significantly more in hosting fees to the league than any other country, according to details of the plan, with two fights reportedly bringing in more than $40 million in fees. Other bouts are planned for the United States and Europe, where the hosting fees will be much lower. TKO has reportedly also held talks with other parties, including other Arab nations, about the boxing league. 

The report speculates the idea that TKO could look to shop UFC and the prospective boxing league together, with ESPN's broadcasting deals with UFC and competitor Top Rank Boxing due to expire this year.