When Dana White decided to enter the boxing business, he did not do it quietly. He did it with a Saudi billionaire, a $47 million gate from a single fight, a multi-year broadcast deal with Paramount, and a promise to completely destroy everything boxing had been doing for the past 50 years. The result is Zuffa Boxing — the most talked-about new promotion in combat sports history. But who actually owns it? The answer involves a Saudi entertainment conglomerate, the parent company of the UFC and WWE, and one of the most powerful men in global sports entertainment.
Here is the complete ownership story.
What Is Zuffa Boxing?
Zuffa Boxing is a professional boxing promotion founded in June 2025 by Dana White and Turki Alalshikh. It is a joint venture between TKO Group Holdings — the publicly traded parent company of the UFC and WWE — and Sela, a Saudi Arabian entertainment conglomerate controlled by Saudi Arabia’s Public Investment Fund (PIF).
The name Zuffa is not new. It was originally the name of the private company — Zuffa, LLC — that Dana White and the Fertitta brothers used to purchase the UFC back in 2001 for just $2 million. That company eventually became TKO Group Holdings through a series of corporate mergers. Now the Zuffa brand has been revived specifically for boxing — a deliberate signal that the people who built the UFC into a multi-billion dollar empire intend to do the exact same thing to boxing.
Dana White set out to create Zuffa Boxing with the goal of fixing what he called a “broken” system in boxing, and joined forces with Turki Alalshikh, Chairman of the General Entertainment Authority of Saudi Arabia. The goal is to bring a UFC-style model to boxing — centralized promotion, clear rankings, reliable event cadence, and top-notch production values.
Who Owns Zuffa Boxing Right Now in 2026?
The ownership structure of Zuffa Boxing is clear and confirmed by its own leadership.
Sela, which is controlled by Saudi Arabia, owns 60% of Zuffa Boxing, while UFC’s parent company TKO Group Holdings owns the remaining 40% of the company.
Turki Alalshikh himself confirmed this on social media in June 2026, stating: “We owned 60% of Zuffa, and I am the chairman of the board.”
TKO earned 25 percent equity in Zuffa Boxing in 2025 and expects to reach roughly 50/50 ownership within a couple of years by hitting performance milestones. The way the deal is structured, Sela funds it entirely — TKO has no funding obligation and is building firm value through operations and management.
Under a multi-year deal, the Saudis pay TKO $10 million annually to manage Zuffa Boxing and run the day-to-day operations and events.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Ownership Stake | Key Detail |
|---|---|---|---|
| Sela (Saudi Arabia / PIF) | Majority Owner & Funder | 60% of Zuffa Boxing | Saudi entertainment conglomerate; fully funds all Zuffa Boxing operations |
| TKO Group Holdings (NYSE: TKO) | Minority Owner & Operator | 40% of Zuffa Boxing | Parent of UFC and WWE; manages day-to-day operations for $10M annually |
| Turki Alalshikh | Chairman of the Board | Represents Sela’s 60% | Chairman of Saudi General Entertainment Authority; President of Saudi Boxing Federation |
| Dana White | Promoter & UFC President/CEO | No direct equity | Day-to-day boxing promoter; face of Zuffa Boxing |
| Nick Khan | Promoter & WWE President | No direct equity | WWE President and TKO Board Member; co-leads boxing operations |
| Dr. Rakan Alharthy | CEO & Managing Director | Represents Sela | CEO of Sela; leads Saudi side of the joint venture |
| Ari Emanuel | CEO of TKO Group Holdings | Leads TKO (NYSE: TKO) | Co-founder of Endeavor; ultimate corporate boss of TKO’s Zuffa Boxing stake |
| Paramount+ / CBS | Broadcast Partner | No equity | Exclusive media rights partner; 12 events per year; multi-year deal |
| Saudi Arabia’s PIF | Ultimate Backer | Controls Sela | The Public Investment Fund owns Sela, which owns 60% of Zuffa Boxing |
Who Is Sela and Why Does Saudi Arabia Own Most of Zuffa Boxing?
Sela is a Saudi Arabian entertainment conglomerate that is owned by Saudi Arabia’s Public Investment Fund (PIF) — the same sovereign wealth fund that owns Newcastle United FC, has invested in LIV Golf, and has been aggressively buying into global sports and entertainment for the past several years.
Zuffa is fully funded by Sela, which happens to be owned by Saudi Arabia’s Public Investment Fund (PIF).
Sela is best known for its association with Turki Alalshikh, who has already reshaped the economics of boxing through Riyadh Season events. Alalshikh purchased The Ring magazine in 2024 and has been the financial engine behind some of boxing’s biggest recent events — including the Crawford vs. Canelo superfight.
The reason Saudi Arabia holds the majority stake is simple: they are paying for everything. The way the joint venture is structured, Sela funds it and TKO builds the operational value. As TKO hits agreed performance milestones, its equity stake is designed to grow from 40% toward a roughly 50/50 split over time.
Who Is TKO Group Holdings?
TKO Group Holdings is not just a boxing promoter. It is the most powerful sports and entertainment company in combat sports history — and understanding it is essential to understanding Zuffa Boxing.
TKO reported full-year 2025 revenue of $4.735 billion across its portfolio, which includes UFC, WWE, PBR, and IMG. The company’s 2026 guidance projects revenue of $5.675 to $5.775 billion.
TKO operates across more than 210 countries and territories, stages over 500 live events per year, and reaches more than one billion households globally. The company returned over $1.3 billion to shareholders in 2025 alone through buybacks and dividends.
This is the entity that now has a boxing promotion. When Dana White says he is going to change boxing the same way he changed MMA, he is not speaking as a small independent promoter. He is speaking as the operational face of one of the most financially powerful sports companies on earth.
The Three Key People Running Zuffa Boxing
Dana White is the President and CEO of the UFC and the promoter of Zuffa Boxing. He is the public face of the operation — the man making the fights, talking to the fighters, and driving the narrative. “I met Alalshikh two years ago, and off of our first meeting, I had less-than-zero intent on getting into boxing,” White told CBS Sports. “As I got to know him, he’s obviously very passionate about the sport.”
Turki Alalshikh is the Chairman of the Board of Zuffa Boxing and the Chairman of Saudi Arabia’s General Entertainment Authority. He is the money and the vision behind the Saudi side of the partnership. He controls 60% of Zuffa Boxing through Sela and has confirmed publicly that he is the chairman overseeing the entire enterprise.
Nick Khan is the President of WWE and a TKO Board Member who co-leads the boxing operations alongside White. He is the deal-making executive who has been central to TKO’s broadcast and commercial strategy, including the Paramount partnership.
The First Fight and the Paramount Deal
Zuffa Boxing made its debut in a way that nobody could ignore.
Zuffa entered boxing by promoting the undisputed super middleweight title fight between Saul “Canelo” Alvarez and Terence “Bud” Crawford. The event became the third-highest grossing event in boxing history, generating $47 million at the gate at Allegiant Stadium. It was also watched by 41 million viewers on Netflix.
That debut fight — won by Crawford in a dramatic upset — instantly announced Zuffa Boxing as a legitimate force in the sport. It was not a small show with unknown fighters. It was one of the biggest boxing events in years.
Then came the broadcast deal. Paramount and TKO Group Holdings announced a long-term media rights deal that will place Zuffa Boxing on Paramount+ and CBS starting in 2026. The deal calls for 12 events in 2026.
The length of the broadcast deal is reported to be five years, putting most of Zuffa Boxing’s annual output on the same network that just bought UFC’s U.S. rights at $7.7 billion for 7 years.
Zuffa Boxing’s Plan to Change Boxing Forever
Dana White and TKO are not just trying to promote fights. They are trying to restructure the entire legal framework of American boxing.
Zuffa Boxing sees itself as the “new kid on the block”, aggressively pursuing changes to the sport’s legal framework in America. The goal is to establish a UFC-style model — effectively becoming a Unified Boxing Organization (UBO), allowing it to absorb the powers of a promoter, manager, and sanctioning body. This could be made possible with the enforcement of its proposed Muhammad Ali American Boxing Revival Act, which threatens to introduce a controversial alternative to the Muhammad Ali Boxing Reform Act.
The established boxing world has pushed back hard. Legendary promoters Bob Arum, Frank Warren, and Eddie Hearn have all spoken out against Zuffa’s ambitions. And boxing icon Roy Jones Jr. publicly criticized Zuffa Boxing and the proposed reform act.
But Zuffa is signing major fighters regardless. British boxing star Conor Benn signed with Zuffa Boxing on February 20, 2026. Zuffa Boxing is planning 12 to 16 events in 2026 with global expansion on the horizon.
Zuffa Boxing is owned 60% by Sela — a Saudi Arabian entertainment company controlled by Saudi Arabia’s Public Investment Fund (PIF) — and 40% by TKO Group Holdings (NYSE: TKO), the publicly traded parent company of the UFC and WWE. Turki Alalshikh serves as Chairman of the Board representing the Saudi side, while Dana White and Nick Khan operate the promotion day-to-day under TKO’s management — for which Sela pays TKO $10 million annually.
Zuffa Boxing launched in September 2025 with the Crawford vs. Canelo superfight, signed a five-year broadcast deal with Paramount+/CBS for 12 events per year, and is actively pursuing a complete overhaul of American boxing law. With Saudi oil money, the UFC’s operational playbook, and the WWE’s entertainment machine all aligned behind a single boxing promotion, Zuffa Boxing is the most powerful new entry into combat sports in history.
Frequently Asked Questions (FAQs)
Q1. Who owns Zuffa Boxing in 2026?
Zuffa Boxing is owned 60% by Sela (Saudi Arabia’s PIF-controlled entertainment company) and 40% by TKO Group Holdings (parent of the UFC and WWE).
Q2. Who is the chairman of Zuffa Boxing?
Turki Alalshikh, Chairman of Saudi Arabia’s General Entertainment Authority, is the Chairman of the Board of Zuffa Boxing.
Q3. Does Dana White own Zuffa Boxing?
No. Dana White serves as the promoter of Zuffa Boxing but holds no direct ownership equity. Ownership rests with Sela (60%) and TKO (40%).
Q4. When was Zuffa Boxing founded?
Zuffa Boxing was officially founded in June 2025 by Dana White and Turki Alalshikh as a joint venture between TKO Group Holdings and Sela.
Q5. Where can I watch Zuffa Boxing events?
Zuffa Boxing events stream exclusively on Paramount+, with select events simulcast on CBS across the U.S., Canada, and Latin America under a five-year media rights deal.
Q6. What was Zuffa Boxing’s first event?
The Crawford vs. Canelo undisputed super middleweight title fight on September 13, 2025 — generating a $47 million gate and 41 million viewers on Netflix — was Zuffa Boxing’s debut event.
Q7. Who funds Zuffa Boxing operations?
Sela fully funds all Zuffa Boxing operations and pays TKO $10 million annually to manage and run the day-to-day events and promotional activities.
Q8. Can TKO’s ownership stake in Zuffa Boxing grow?
Yes. TKO currently holds 40% and is structured to grow toward roughly 50/50 ownership with Sela by hitting agreed performance milestones over the coming years.
