Turki Alalshikh Denies Saudi Arabia Is Cutting Back Spending on Boxing

The day before, The New York Times published a piece about financial difficulties at Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF).

According to that information, PIF representatives began informing international investors that the fund no longer has the ability to allocate additional money to new projects in the future.

However, The Ring later disputed that report, citing Turki Alalshikh, head of the Kingdom of Saudi Arabia’s General Entertainment Authority.

“His Excellency Turki Alalshikh has strongly denied a recent report claiming that spending on boxing events is supposedly being reduced.

Alalshikh stated that the report is ‘100% untrue’ and made it clear that ‘in 2026, many surprises will be announced,’” the statement said.