TKO Group Holdings, the parent company of the UFC, is set to launch a new boxing promotion with significant ambitions. The league`s debut is scheduled for September, featuring a major “superfight” event in Las Vegas between Canelo Alvarez and Terence Crawford.
UFC CEO Dana White has been announced as a promoter for the initial event, with WWE President Nick Khan also involved in the newly formed boxing league. The venture receives substantial financial backing from Saudi Arabia and Turki Alalshikh, chairman of the country`s General Entertainment Authority.
While initial details have emerged since the promotion was first announced, the league is developing a comprehensive schedule beginning with the card on September 12th.
TKO President and Chief Operating Officer Mark Shapiro shared insights during a financial call, stating, “We’re expecting with the boxing organization that we’re putting on an average of call it 12 cards a year for each of the next five years.” He added that the plan is still being finalized in collaboration with their Saudi partners.
In addition to the planned 12 annual fight cards, the new promotion, supported by Saudi funding, is also looking to host several high-profile “superfight” events each year, similar to the Canelo vs. Crawford bout.
Shapiro anticipates hosting between one and four such superfights annually, confirming the Canelo/Crawford fight in September is considered one of these premier events. Undercard bouts for these superfights are expected to air on the promotion`s future television or media partner platform.
As of now, the new TKO boxing league does not have a broadcast partner in place, but details are likely to be finalized before the September launch.
Although TKO is managing the operational side, Shapiro reiterated that the company bears no financial liability for the boxing promotion itself, with Saudi Arabia providing all the necessary funding.
Furthermore, the structure involves separating the regular 12 annual fight cards from the “superfight” events that could feature major boxing stars.
Shapiro clarified this distinction: “Those are two separate businesses.” He explained that the Saudis fund the superfight cards, with TKO assisting on aspects like media rights deals (taking a commission), global partnerships, ticketing, and production, often with Dana White and Nick Khan involved in promotion. Separately, their core boxing organization aims for 12 cards a year, securing its own media rights fees, selling global partnerships for those specific cards, and handling their promotion and production on their chosen media platform.
The new promotion has currently been referred to as “TKO Boxing,” but Shapiro confirmed this is a placeholder name. He assured that an official name for the business is in development and will be unveiled relatively soon, emphasizing it will not be “TKO Boxing.”
