During the October 15th edition of Wrestling Observer Radio, Dave Meltzer and Bryan Alvarez discussed the business implications of WWE’s upcoming Saudi Arabia events in the context of the TKO Holdings portfolio, particularly focusing on the UFC’s parallel situation and the company’s financial motivations.
The conversation centered on an upcoming WWE event scheduled for November 7th in Riyadh. Meltzer emphasized that while the decision technically falls to Endeavor CEO Ari Emanuel, the reality is more complex.
“It’s really Turki Alalshikh’s call,” Meltzer explained, “Because they don’t want to they don’t want him on their bad side. They want that relationship good because you know, he’s the money behind the boxing, the Zuffa boxing.”
Meltzer outlined the massive financial stakes involved, explaining that the Saudi relationship extends far beyond the immediate event payments. “People go like it’s a $55 million deal, which it is. But it’s really hundreds of millions and even billions,” he stated.
The long-term vision involves establishing a boxing franchise similar to what has been achieved with WWE and UFC.
According to Meltzer’s analysis, the valuation of these properties has reached extraordinary levels. “WWE and and UFC are probably worth upwards of $15 billion each now,” he noted, adding that he had heard estimates ranging as high as $20 billion.
However, he dismissed Dana White’s claim of $50 billion. Meltzer said, “Dana White said $50 billion, but you know, he’s full of it.”
The prospect of replicating this success in boxing represents potential billions in additional value, making the relationship with Turki Alalshikh essential to TKO’s broader strategy.
The UFC faces its own challenges in the region, with a major show scheduled for October 24th in Abu Dhabi, approximately 600 miles from the conflict zone. Despite the State Department designating the area as level three, meaning “do not travel there unless like absolutely necessary,” White has made clear the organization’s commitment.
“Dana White is very clear that we’re going, nothing’s going to stop us from going,” Meltzer reported.
Meltzer explained the financial calculus driving these decisions, noting that WrestleMania money from Saudi Arabia exceeds $100 million and that the total financial relationship encompasses far more than individual event fees.
“There’s so much money involved in this, which is why they’re going to do everything they can to go,” he said.
The discussion highlighted a key distinction between independent contractors and employees within the sports entertainment industry. When a tennis tournament scheduled for the same period in Riyadh was postponed to late December, Meltzer noted that the six tennis players involved “had the power to say, ‘Yeah, you know, we’re not we don’t feel like coming right now.'”
By contrast, WWE wrestlers lack similar leverage. “The wrestlers we’ll see cuz you know, you would you would think most of the wrestlers would not really would be thrilled about going on November the 7th,” Meltzer observed, while acknowledging that internal dissent would likely carry professional consequences.
Meltzer reported that WWE management was not pleased when some non-wrestler employees expressed reluctance about traveling to the region, as the company wants to present that united front.
Meltzer stated, “Not one wrestler said a word, which doesn’t surprise me because if they did, there’d be repercussions.”
The business model prioritizes maintaining relationships with key financial partners regardless of external circumstances or employee concerns. Meltzer explained that publicly acknowledging contingency plans would signal weakness to Saudi partners and Turki Alalshikh, which explains why company representatives deny having backup arrangements despite the obvious prudence of such planning.
“No one talks about the idea of a backup plan, and they deny it,” he said, before adding, “but but, you know, to not have a backup plan, you would have to be incompetent.”
