British boxing-star Anthony Joshua posed later on his Instagram with King Salman, after likely clearing upwards of $20 million USD of oil-money for his prizefighting skills.
Kingdom of Saudi Arabia, a gleaming example of what can happen when a US oil-collaboration goes well for a change, made a controversial splash in the Boxing business by buying the rights to host the heavyweight championship rematch between fighters Anthony Joshua & Andy Ruiz late in 2019.
KSA manages ‘Public Investment Funds’ that are flushed by a pseudo-unlimited supply of oil that the government sells to the international community. The profits the government makes are used to fund programs ranging from a citizenship dividend, to public works projects, and such investment funds that KSA uses as a vehicle to purchase and manage international assets. Ride-hailing giant Uber, is an example of such an asset. The idea, is to diversify your way out of dependency on the oil-business.
Lady Fortuna then turned her smile towards Boxing and promoter Eddie Hearn, as KSA saved him from the trouble of actually having to sell a single ticket to come up with his fighters’ paychecks. Rumored at ~ $100 million, KSA ability to bring-in a large amount of capital, upfront, prompted a change of venue straight out of the UK and into Diriyah, KSA.
KSA delivered by putting together a phenomenal venue and a stable atmosphere to conduct operations in, but a one-off buy of the rights to host a popular Boxing-match can hardly be considered a prudent investment of $100 million that is nearly impossible to recoup in one night. But their larger goal may have been in promoting Diriyah as a version of Times Square, NYC. Not a terrible plan, altogether.
Visit http://www.PrizefightPromotions.com for more.
Featured Post – “The King of the 160-pound division.“
See our latest product.
If you read carefully, between-the-lines of this article you’ll find nuggets of information that point you in-the-direction of studying or understanding crucial topics that play a role in how the World functions today. We hope you’ll pursue them; try to objectively understand, and accumulate layers-upon-layers of knowledge which you can use to influence your actions, thoughts.
We’ll try to be consistent with our approach. Crucial to this firm’s propagation is understanding how Nations get built, and in some cases subsequently, get taken apart. Within those are lessons we’ll try to document and retell simply.
Tags: World’s biggest business; How is Saudi Arabia so rich; Who built Saudi Arabia; Who runs Saudi Arabia; Influence of House of Saud; Saudi Public Investment Funds; Boxing Anthony Joshua; Boxing Eddie Hearn; Eddie Hearn Saudi Arabia; What is OPEC; Heavyweight Boxing Champion; British boxing; Boxing in UK; British Boxers; Latest boxing updates; How does Boxing work; Is OPEC good; Bin Salman net worth; how much oil does Saudi Arabia have; how much oil does canada import from Saudi Arabia; how much oil does US import from Saudi Arabia; Anthony Joshua Vs Andy Ruiz; Anthony Joshua next fight; anthony joshua net worth; Business of boxing; Boxing business; Boxing tonight; Boxing updates; How the sports business works; How does Boxing work; Who runs Boxing; Learning more about Boxing; Best information about Boxing; Interesting information about Boxing; How the boxing business works;