Turki Alalshikh has rubbished fears that Saudi Arabia will reduce their spending in boxing.
A report by the New York Times claimed that the Public Investment Fund of Saudi Arabia is “running low on cash for new investments.”
The report suggests that Prince Mohammad Bin Salman, who has run the PIF since 2015, has spent a “vast portion of the nation’s bounty on projects that are in financial distress.”
The PIF has invested in in Formula 1, Newcastle United FC, Snooker, LIV Golf and last month agreed a £55bn deal to acquire EA Sports.
The PIF has invested heavily in boxing over the last two years since staging the Tyson Fury vs Francis Ngannou bout in its inaugural event in October 2023 in Riyadh.
Alalshikh, the Chairman of the General Entertainment Authority and thus in charge of overseeing the boxing operation, delivered the first undisputed heavyweight championship in 25 years between Tyson Fury and Oleksandr Usyk last May and a host of other major fights under the Riyadh Season and Ring Magazine brand, which arguably wouldn’t have been possible without the backing of the PIF.
Earlier this month, Alalshikh staged the rematch between Chris Eubank Jr and Conor Benn, seven months after putting on their fight of the year contender at the Tottenham Hotspur Stadium.
His Excellency Turki Alalshikh has firmly disputed a recent report that alleged a slowdown of spending on boxing events.
Alalshikh says the report is “100% not true” and made it clear that “many surprises will be announced in 2026.” pic.twitter.com/AdksuWhu0n
— Ring Magazine (@ringmagazine) November 28, 2025
According to the report, the PIF is “actively restructuring its operations”, however Alalshikh has denied that spending will slowdown in boxing in a post put out by the Ring, the publication which he bought from Oscar De La Hoya last November.
“His Excellency Turki Alalshikh has firmly disputed a recent report that alleged a slowdown of spending on boxing events,” the post on X said.
“Alalshikh says the report is “100% not true” and made it clear that “many surprises will be announced in 2026.”
Alalshikh has already revealed plans for Anthony Joshua to return to Riyadh in February, following his December bout with Jake Paul and has teased that he will deliver “one of the greatest fights in the history of boxing” in London in September.
That showdown is expected to be a long-awaited Anthony Joshua-Tyson Fury match-up, if Fury decides to comes out of retirement.
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