The following press release was issued today:

NEW YORK & RIYADH, Saudi Arabia–(BUSINESS WIRE)–HE Turki Alalshikh, together with TKO Group Holdings, Inc. (TKO) (NYSE: TKO), a global leader in sports and entertainment, and Sela, a leading entertainment conglomerate, have today announced a multi-year partnership to establish a new boxing promotion that will provide a premier platform for both leading boxers and prospects in the sport.

Speaking on this significant milestone, HE Turki Alalshikh said:

“This landmark partnership between industry powerhouses sets the stage for an unparalleled experience for boxers and fans. 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, President and Chief Operating Officer, TKO added:

“This is a strategic opportunity to reimagine the sport of boxing globally. TKO has the deep expertise, promotional prowess, and longstanding relationships. HE Turki Alalshikh and Sela share our passion and vision for evolving the current model. Together, we can bring the sweet science back to its rightful place in the forefront of the global sports ecosystem.”

TKO will serve as managing partner, providing day-to-day operational expertise, management, and oversight of the promotion, with executive leadership anchored by UFC President and CEO Dana White and WWE President and TKO Board Member Nick Khan.

Sela has played a pivotal role in promoting and delivering some of the biggest international boxing events in recent years, including Terence Crawford vs. Israil Madrimov in Los Angeles, and Anthony Joshua vs. Daniel Dubois at Wembley Stadium, which set a new UK attendance record. A Public Investment Fund (PIF) company, Sela is also the lead sponsor of Newcastle United Football Club and has delivered projects such as Riyadh Winter Wonderland, Formula E, and the Italian Super Cup.

Dr. Rakan Alharthy, Managing Director and CEO of Sela, added:

“This partnership between HE Turki Alalshikh, Sela, and TKO will turn the page on a new chapter in boxing history. Together, we will elevate the sport to new heights and redefine the fan experience for a worldwide audience. The promotion will create a sustainable future for boxing and reinforce Sela’s position as a powerhouse in global sports and entertainment.”

The new promotion will feature:

A highly structured system to develop new talent from around the world, including athlete combines and academies.
Access for all boxers to the UFC Performance Institute, the world’s leading combat sports performance training, research, rehabilitation, and nutrition center, featuring locations in Las Vegas, Mexico City, and Shanghai.
TKO’s production, media, and promotional expertise, to deliver both in-arena experiences and top-tier, state-of-the-art broadcasts to fans around the world.

Further details about the new boxing promotion, including fighter signings, fight schedules, venues, and host locations, will be revealed in the coming months.