Golden Boy promoter Oscar De La Hoya takes aim at Zuffa Boxing and its Saudi financiers once again, noting their plans to withdraw funding into LIV golf as an early warning sign of what’s to come in the boxing business. In that respect, De La Hoya says it’s just a matter of time before the golden faucet gets turned off and fighters don’t want to be stuck in a Zuffa contract when it eventually does.
“Speaking of bleeding cash, I estimate the Saudis have spent at least a billion dollars since entering
the boxing space, two years ago,” De La Hoya said. “I mean, how? They paid $100M for Canelo alone and just paid Conor f—kin’ Benn $15M. They also paid a lot of f—king money to buy The Ring Magazine which is a dead asset! Plus, all the other events they put on, and they’re fully funding the failed science experiment known as Zuffa Boxing. Actually, it could be way more than a billion bucks.
“And where are they recouping that investing? On ticket sales and PPVs? They don’t even sell tickets at the events in Saudi, and the PPVs are a tiny fraction of income. Again, the Saudis are fully funding Zuffa. So fighters beware and make sure you read the fine print because you may need to get out of your Zuffa contract in a few months. There might not be any money left.”
