In Riyadh’s sold-out Kingdom Arena, Oleksandr Usyk entered the ring with a determined scowl. The venue, nestled in BLVD City, buzzed with the energy of shops, restaurants, and gaming experiences. Usyk, 37, was accompanied by Vasyl Zhadan’s Ukrainian rock anthem “Brothers,” donning a green robe and a fur ushanka, reminiscent of his Cossack warrior ancestors. His journey from winning gold at the European amateur championships in 2008 had led to this moment: solidifying his status as the world’s best fighter, regardless of weight.
Tyson Fury’s entrance was no less dramatic. Dancing atop the entrance ramp, he sang along to Barry White’s “You’re the First, the Last, My Everything,” which soon shifted to Bonnie Tyler’s “Holding Out for a Hero.” Fury shadow-boxed as flames and fireworks exploded behind him, eventually sprinting to the ring. Once inside, he immediately taunted Usyk, with legends Lennox Lewis and Evander Holyfield, the last undisputed champions from November 1999, standing by with their belts.
The anticipation for Usyk and Fury to finally clash was palpable, especially after initial negotiations fell apart over financial disagreements for an April 2023 fight at London’s Wembley Stadium. Enter Turki Alalshikh, chairman of Saudi Arabia’s General Entertainment Authority, who ensured both fighters received career-high paydays to bring the fight from social media banter to the ring. Sources indicate Usyk-Fury generated over $50 million in pay-per-view revenue with more than 1.5 million buys, primarily from the U.K. The event also pulled in $40 million in sponsorship and over $3 million in ticket sales, with total production costs around $120 million as per ESPN.
Alalshikh, a passionate boxing fan, has been instrumental in transforming Saudi Arabia into a major hub for sports entertainment. Since December 2018, he has brought top musical acts and sporting events to the Kingdom, aiming to elevate boxing’s global status. His efforts culminated in the historic Usyk-Fury bout, unifying the heavyweight division’s four belts for the first time since Lennox Lewis. Usyk’s split decision victory on May 18 crowned him ESPN’s top pound-for-pound boxer.
Critics argue that Saudi Arabia’s investment in sports aims to boost its global reputation, aligning with the Vision 2030 plan to increase tourism and promote fitness. Crown Prince Mohammed bin Salman addressed these claims, emphasizing the economic benefits, stating, “If sportswashing is going to increase my GDP by 1%, then we’ll continue doing sportswashing.”
The Usyk-Fury fight was a key event during Riyadh Season, an annual festival attracting significant sponsorships. Alalshikh has more boxing events planned, with a notable upcoming match featuring Terence Crawford vs. Israil Madrimov in Los Angeles. This marks a significant step in hosting Saudi-backed events in the U.S., further indicating Alalshikh’s commitment to boxing’s future.
However, boxing’s move to Saudi Arabia has not been without controversy. Reports of illegal streaming during the Usyk-Fury fight suggest significant financial losses, with at least 20 million viewers watching through unauthorized channels, leading to a potential $120 million loss globally. Despite this, the event’s success highlights the Kingdom’s growing influence in the sport.
Alalshikh’s vision extends beyond boxing, with major events in Formula 1, WWE, tennis, UFC, and golf also being hosted in Saudi Arabia. His ability to bring together rival promoters, such as Eddie Hearn and Frank Warren, for innovative events like the 5 vs. 5 team-based boxing matches, underscores his influence.
Looking ahead, the December 21 rematch between Usyk and Fury promises another blockbuster event. Alalshikh remains dedicated to ensuring that Saudi Arabia continues to play a pivotal role in boxing’s global narrative, asserting, “We are people who do it right or don’t do it.”
