Dana White‘s dreams of making it big and revolutionizing boxing may be a hop, skip, and a jump away. For long, the UFC honcho who transformed mixed martial arts into a global phenomenon had been harboring a role in the legacy sport. He played a key role during the 2017 epic between Floyd Mayweather Jr. and Conor McGregor. Then last year he finally received a chance to promote a boxing event. So what changed? The developments observed a new variable being added into the equation: HE Turki Alalshikh and his Riyadh Season.Early this year, reports emerged that TKO Holdings, which owns franchises such as UFC and WWE, and HE Alalshikh were in talks to set up a boxing league. It looks like the talks have now taken a significant step forward. Spilling the beans, Mark Shapiro, President and Chief Operating Officer of TKO Holdings, shared a few insights about the deal, including a $10 million fee.Boxing League: Final stretch of negotiations“Everybody knows we’re in talks with the Saudis, but to give you a little more color, I will tell you that we are close [to] an agreement with the Saudis on a creation of a boxing league where we TKO would be the producer, the promoter and responsible for all day-to-day operations of the venture, where by we would receive a fee of $10 million plus,” said Shapiro during a conversation.While not explicitly mentioned, it could mean the Saudis would likely be funding the venture while TKO runs it. He said, “Again, we’re not putting any money in, we’re not putting any capital in, we’re not on the hook for any [costs].”TKO will receive a guaranteed $10 million+ fee for handling operations. Shapiro shared a few details about the equity structure and performance-based incentives. TKO will gain ‘some earn-in equity per time.’ This ownership is contingent on meeting performance goals over a five-year period.Las Vegas, NV – JANUARY 14: UFC President Dana White spotted with Logan Pauls Prime drink at UFC Vegas 67 on January 14, 2023 at the UFC APEX in Las Vegas, NV. (Photo by Amy Kaplan/Icon Sportswire via Getty Images)Their stake increases only if they exceed board-approved annual budgets, implying they must grow the league’s revenue and profitability. According to Mark Shapiro, a team met the Saudi delegation to take the discussions for the boxing league forward. It included TKO Holdings Chief Financial Officer Andrew Schleimer, President of WWE Nick Khan, and Chief Operating Officer of UFC Lawrence Epstein.“They had a full-day meeting earlier this week, and we’re getting awfully close, and when we have something official, we’ll come out,” said UFC President. Where does this leave his UFC and the WWE?What is the deal likely about?“Make no mistake about it, our core business is UFC and WWE,” Shapiro said. “We’re focused on the integration of IMG, On Location and PBR, both as stand alone businesses but also to help power and fuel our two battleships that are UFC and WWE,” he added. As for other opportunities, they want to be “intend to be selective, disciplined, thoughtful” and are on the prowl for opportunities that will create longterm value for shareholders. Boxing checks all the boxes for Shapiro in that regard.Back in 2022, Dana White had said of boxing, “It’s a broken business that is an absolute nightmare to try to fix.” Fast forward to 2024, the tune changed to, “People have been talking about the demise of boxing for 30 years, and we’re still here talking about boxing right now. I have always had an idea of how I thought it should be done. I don’t know if that’s possible, but we’re gonna find out. I’m coming in guns blazing.”But Shapiro had stopped the speculations in their tracks with a simple statement. “What I can tell you is boxing at its best is confused and fragmented. At its worst, it’s broken. We think the sport presents an interesting growth opportunity for us… If we were to get involved in boxing, we would expect to do so in an organic way, not [mergers and acquisitions] way. So i.e. we’re not writing a check.”So, plans to TKO funding a new boxing league headed by White, maybe even a second coming of Zuffa boxing, seemed to be out the window. But now, what is happening seems to be in accordance with what Shapiro said last year.As of now, not much information regarding the finer details of the boxing league is available. A piece from ‘GiveMeSport’ suggests it could be a developmental league. A platform for emerging talent rather than a showcase for established world champions. The league may not feature top-tier, superstar boxers or current world champions. Instead, the league may focus on rising contenders, prospects, or lesser-known fighters just below championship level.They cited Callum Walsh’s example. The Irish boxer currently stands sixth in the IBF and WBC light middleweight rankings. Last September, at Dublin’s 3Arena, on the ‘USA UFC Fight Pass,’ he fought Przemyslaw Runowski for the WBC Continental 154-pound title. Walsh is not yet a major superstar. But he has some backing from big names like Dana White and Tom Loeffler’s 360 Promotions, which promotes him.What are your thoughts on the boxing league? How do you think it is going to benefit the sport at large?The post Dana White’s UFC Set to Bag $10M From Turki Alalshikh’s Saudi Arabia as Boxing League Deal Almost Sealed appeared first on EssentiallySports.