Turki Alalshikh, the chairman of Saudi Arabia’s General Entertainment Authority, has forged a multi-year boxing promotion partnership with U.S. sports and entertainment conglomerate TKO and Saudi sports marketing company Sela in what is being touted as a landmark deal.

UFC and WWE parent TKO Group has, as promised, jumped into boxing, inking a partnership with Saudi Arabia. The deal with HE (His Excellency) Turki Alalshikh, chairman of the Saudi General Entertainment Authority,

TKO Group Holdings, owners of mixed martial arts' UFC and wrestling's WWE, announced on Wednesday a new boxing promotion with the backing of Saudi Arabia's Turki Alalshikh and entertainment conglomerate Sela.