Boxing

KSA’s ability to fire-up money inside a furnace gives Boxing a flush of cash going into the new decade.

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

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.

END

Visit http://www.PrizefightPromotions.com for more.

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