Lesson 13: More About Markets
Write a 700-word feature for a magazine of your choice. This should be tailored specifically for the readers of that magazine (don’t be generic).
ASSIGNMENT 13: A FEATURE FOR BOXING NEWS MAGAZINE
IS SAUDI THE NEW VEGAS?
Luke Richards
Word Count: 698 (Not including standfirst)
How the Saudi’s took advantage of a stagnating market to become boxing’s premier destination.
It’s difficult not to be seduced by Las Vegas. But it’s not because you’re here on your honeymoon. It’s fight week and Floyd Mayweather is top of the bill at the MGM Grand.
Huge amounts of money are about to be spent. Over $100m across casinos, hotels, and restaurants.
As the king of Vegas once said, “During fight weekend, you can shop, party, stay out late and do anything you want.”
Almost a decade later and much has changed for boxing in Vegas. Mayweather retired, apart from glorified fights with MMA or YouTube stars.
Sports gambling across America became popular and a long-held ban over the city hosting major franchises came to an end.
Formula One, Ice Hockey and the NFL moved in and established their market in Paradise.
Then, HBO and Showtime - two behemoths of American broadcasting - closed its doors to boxing, citing a “focus on other content priorities.”
Tyson Fury and Deontay Wilder did fight for Vegas lineage during a heavyweight resurgence not seen since the 90’s.
But there wasn’t an heir that would claim residency in the entertainment capital of the world. Certainly not as Mike Tyson or Sugar Ray Leonard once did.
By 2023, it felt that boxing had missed the opportunity to crown its first undisputed heavyweight champion of the four-belt era.
The champions Fury and Oleksander Usyk fought only once in the later part of the year and boxing’s sanctioning bodies – particularly the IBF – grew impatient.
Having provided the Ukrainian with special dispensation after war broke out, they decided to push Fury and Usyk to fight their mandatory challengers.
With respect to Filip Hrgovic, what fans craved were big names and fights across the card. Something for that would tempt fans to continually part with their hard-earned money.
But, boxing’s political rigmarole proved so problematic that even Vegas didn’t have the pull or financial clout to make undisputed happen.
Then, there was a breakthrough. February 17th in Riyadh was named for the biggest fight in decades.
The man responsible was Turki Alalshikh. The chairman of the board of directors of the general entertainment authority (GEA).
“He’s a real fight fan,” Eddie Hearn said of boxings game changer from Saudi Arabia.
“He’s like playing championship manager. It’s like you as a fan saying I want that player, and that player and then he goes and makes it happen.”
Last months ‘Day of Reckoning’ featured 10 of the top 15 heavyweights on one night.
An event that encouraged Hearn and Frank Warren, Dazn and TNT to put aside their rivalry for the betterment of the sport.
It may have also set up a prize fight between Wilder and Joshua until Joseph Parker outclassed the bronze bomber.
However, last week, Alalshikh announced an intriguing concept that would take its place.
Matchroom and Queensbury promotions will go head-to-head to discover whose stable is the best.
In an official press release, Alalshikh said “This type of agreement is what boxing fans have been waiting for, as the best champions worldwide are going to be a part of the five-versus-five fight night.”
This innovation is more akin to WWE than boxing-events even if stable supremacy has been spoken in fantasy for decades.
This is all for Riyadh season, A celebration running from October to March that brings together music, entertainment, dining, and sport to promote Saudi Arabia.
The festival – now it’s fourth year – has boosted Saudi Arabia’s international visitors to 30m per year.
There are controversies, of course. Criticisms regarding atmosphere and the middle east’s involvement of sport are valid. But, boxing is a sport of excess and cares little of geopolitics.
Warren also told TNT that he is also unconcerned about the loss of big fights in the UK. “In my era, when someone wanted to make money, they went to the states.”
“They went to New York, then Vegas happened. The difference is you’re not going to see them at 5am in the morning. You’re gonna see them in prime time.”
As Bob Arum succinctly put it during an interview with Gareth A. Davies this week, “When there’s substantial money on the table, animosities dissolve, rival promoters collaborate, and athletes earn life changing purses.”
- Ends -
