"Now the Saudis have turned to TKO Group Holdings and Dana White to oversee Zuffa Boxing a newly created vehicle designed to expand the footprint of its equity partners in the United States. Zuffa Boxing is taking a far less generous approach toward fighters than Sheikh did. That's evidenced by the contract that many of the fighters being recruited by Zuffa are being asked to sign."
"On 6 August of last year, TKO president and COO Mark Shapiro announced: (1) TKO was forming a boxing promotional company called Zuffa Boxing that would be a joint venture between TKO Holdings, the Saudi Arabian General Entertainment Authority, and Sela (a live-experiences and recreational company owned by Saudi Arabia's Public Investment Fund) (2) Zuffa Boxing would promote approximately 12 league fight cards annually for a period of five years."
"Sela owns 60% of Zuffa Boxing and TKO owns 40%. UFC president and CEO Dana White has been charged with overseeing Zuffa Boxing. I live in my own little bubble, White told Brian Campbell of CBS Sports. I'm gonna do my own thing. I'm not worried about what any of those [other promoters] are doing. Those guys don't think big enough. Those guys all think small. They don't think the way that I think"
Saudi interests that previously paid generous purses in professional boxing have partnered with TKO Group Holdings and Dana White to form Zuffa Boxing. The new entity is a joint venture involving TKO, the Saudi Arabian General Entertainment Authority, and Sela, with Sela holding 60% and TKO 40%. Zuffa plans to promote approximately 12 league fight cards annually for five years and to collaborate on annual super-fights. Many recruits are being offered contracts described as significantly less generous than past Saudi payouts. Multiple industry sources were interviewed, some requesting anonymity due to fear of retaliation. Dana White will oversee Zuffa Boxing.
Read at www.theguardian.com
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