His excellency Turki Alalshikh is the man responsible for this recent boxin revival he has put together with his Riyadh Season events in Saudi Arabia. The most recent fight was arguably the most important boxing eventt he has put together, it was reported that it sold an excess of 1.5 pay-per-view sales. it was the Tyson Fury vs Oleksandr Usyk fight. But despite these results, Alalshikh still came out short with the fight’s finances. The chairman of Saudi Arabia’s entertainment authority reportedly lost $27 million despite making over $50 million from PPV sales alone. All of this information comes from a recent report made by the folks at ESPN, who made a detailed explanation of how his excellency lost all that money despite how successful the event was.
READ NEXT :Tyson Fury anxious for immediate Oleksandr Usyk rematch before Anthony Joshua at Wembley Stadium, says Top Rank CEO Bob Arum
Other sources of revenue where the event did gangbusters was from sponsors, they got a cool $40 million from that alone. Plus, the ticket sales attracted an extra $3 million but that still wasn’t enough to even come close to
break even. If we make an addition to all of those numbers, we come up with $93 million of revenue that the event generated in total. However, the final cost of this event was a staggering $120 million. This translates into a whopping $27 million deficit that left Turki Alalshikh with absutely no earnings from this. But it’s probably accurate to think this is not going to prevent Alalshikh from making more events of this nature down the line.
There are not many promoters like his excellency, who can see the value of putting together an event that will make them lose money but it will deliver a historic moment. That fight between Tyson Fury and Oleksandr Usyk is already one of the greatest heavyweight fights in boxing history. Turki Alalshikh understands that his name and his country will be linked to this event forever. We still have the rematch coming up and judging on these results, Alalshikh will probably come into it knowing he may lose millions again. But none of that matters to a country where they make money from oil production.
