Saudi Arabia’s financial muscle has rewritten boxing’s landscape over the last two years — but behind the flood of record-breaking purses and supercharged schedules sits a truth the sport has ignored from day one: the entire operation is unstable and unsustainable. A New York Times investigation into the state of Saudi Arabia’s Public Investment Fund (PIF) — the same money pipeline funding Riyadh Season boxing — adds weight to what industry insiders have whispered privately: the tap could turn off at any moment. Boxing’s New Addiction: Fantasy-Level Purses Boxers, promoters, managers — virtually the entire upper tier of the sport — have become conditioned to Saudi-era numbers that do not exist anywhere else: Eight-figure paydays Lavish travel to the region Guaranteed money for fights that would barely break even in the US or UK It’s a dream world. And boxing has walked straight into it. The problem? From the start, it was clear this level of spending wasn’t built on solid ground. Boxing does not generate the revenue required to sustain these payouts. There is no economic mechanism that makes the numbers make sense. The sport has been living off an external subsidy, and the NYT now reports that subsidy to be under severe strain. The NYT Red Flag: Saudi Projects Bleeding Cash The NYT reports that PIF’s cash availability for new investments has tightened dramatically, with high-profile Saudi megaprojects running over budget, behind schedule, or in financial distress. According to sources cited in the NYT, the fund is slashing projections and pulling back commitments while restructuring internally. Put simply, the money is not infinite, and the outflow has become a problem. Boxing is not a core long-term investment for Saudi Arabia. It’s a showcase. A prestige play. And prestige spending is always the first to be trimmed when numbers turn. What Could Happen If the Bubble Pops Boxing needs to wake up. The sport has been here before — from the HBO era to the DAZN “billion-dollar” era. Each time, the bubble burst. Each time, fans were left disappointed and ended up paying more than before. This time, the potential fallout could be even harsher. Fighters are now accustomed to paychecks that cannot be replicated elsewhere. Promoters have built calendars around the idea that Saudi Arabia will bankroll their future fights. If Saudi funding slows, boxing could snap back to reality almost instantly: $79.99 PPVs may surge back Other streaming platforms might add “Premium Fight Pass” tiers like DAZN Fights could return to smaller arenas Promoters may slash roster sizes Fighters could earn far less than they have come to expect But we all know the fans would take the biggest hit. Boxing Bet the House on One Man It’s no secret that Turki Alalshikh has transformed the sport — he brought ambition and a willingness to make fights that others couldn’t. But so could anyone with those kinds of funds. However, that’s not the half of it, as the boxing world made a fatal mistake: it started acting as if this funding was permanent. It isn’t — it never was. The bubble will burst, as it always does. And the NYT report is the first major public indicator that the ride may not last as long as boxing wants it to. It could be over after just two years of extravagance. The Future Boxing is once again doing what it always does: getting high on someone else’s money. It’s convincing itself that the party will never end, and ignoring the warning signs flashing in the background. When the bubble bursts, fighters, fans, promoters, and broadcasters will all feel the impact of believing “unlimited funds” actually existed. The NYT story isn’t the crisis — it’s the warning shot. Boxing had better listen this time. About the Author Phil Jay is the Editor-in-Chief of World Boxing News (WBN), a veteran boxing reporter with 15+ years’ experience. He has interviewed dozens of world champions, broken international exclusives, and reported ringside at the sport’s most significant events since founding WBN in 2010. Read full bio.

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