A Tyson Fury Vs. Anthony Joshua preview.
Published: May 13th, 2021.
KSA’s ability to burn money inside a furnace will give Boxing another flush of cash as the Nation agrees to pay upfront to be the host city for the Undisputed Championship in Boxing’s Heavyweight Division.
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 delivered by putting together a phenomenal venue and a stable atmosphere to conduct operations 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.
Lady Fortuna will turn her smile towards Boxing & promoter Eddie Hearn twice, as KSA will save him from the trouble of actually having to sell a single ticket to come up with his fighters’ paychecks. Rumored at $150 million, their ability to bring large amounts of capital upfront will prompt British opponents to move a fight venue out of their homeland.
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 are used to fund programs ranging from a citizenship dividend to public works projects, and such investment funds they’ll use as a vehicle to diversify their way out of dependency on the oil business. Saudi Arabia can produce oil at under $5 a barrel. In today’s price it can sell at $66 a barrel. The country only needs oil to stay above $40 a barrel to balance its budget. All this to say they have phenomenal capacity to take losses and not a boss to fire em’ when they lose upwards of $200M in a single night.
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