Three years after Turki Alalshikh arrived with the intention of fixing boxing, veteran reporter Dan Rafael has delivered a damning assessment of where the sport stands today.

Asked whether boxing is currently in the worst state he has witnessed during his decades covering the sport, the former World Boxing News lead writer was unequivocal and brutal.

“Absolutely and it’s not close.”

Alalshikh entered boxing with Tyson Fury vs. Francis Ngannou in 2023 and began spending Saudi money on fights promoters had previously struggled to make.

The 2023 Vision

From the beginning, he was clear about what he wanted to achieve.

“The vision of 2023, in our country, is to do and deliver to the market the best fights with good [Pay Per View] prices and make the fights that people want to see,” Alalshikh said.

After spending six months testing the boxing market, Alalshikh went even further.

“You must improve the market. You must fix all the problems.”

There is no denying what followed. Alalshikh delivered major events, helped make Fury vs. Oleksandr Usyk and gave fighters paydays they may never have received under the traditional system.

Alalshikh later described boxing as broken and said the kind of low-risk fights he called “Tom and Jerry fights” were something he wanted to change.

Crucially, Alalshikh also succeeded in bringing rival promoters together. Hearn and Warren went from competing against each other to working on the same Saudi-backed events.

Three years later, however, boxing may have more problems than when he arrived.

The Saudi Money Problem

The latest example came with Hamzah Sheeraz, who relinquished his WBO super middleweight title rather than face Janibek Alimkhanuly after Queensberry won the purse bid.

Sheeraz stood to receive $751,356.75 under the WBO split, considerably less than the Saudi-backed purses he had become accustomed to earning.

Rafael summed up the problem when somebody suggested Sheeraz was being offered short money.

“It’s not short money. It’s the actual market assessing his value.”

There is nothing wrong with fighters accepting life-changing Saudi money. The problem comes when those purses become the expectation and the traditional market cannot reproduce them.

That is only one part of the current mess.

Another Divide Is Coming

Rafael’s damning assessment comes amid the Zuffa/TKO Ali Act fight that could change boxing completely.

The Muhammad Ali American Boxing Revival Act has advanced out of the Senate Commerce Committee and would allow league-style Unified Boxing Organizations to operate alongside traditional promoters.

Zuffa Boxing titles have already entered the sport, although there is currently only one champion. Once the TKO league is fully established, with rankings in every division and the major numbered pay-per-views underway, only then will boxing truly know what it is dealing with.

Fury vs Joshua Debacle

The Tyson Fury vs. Anthony Joshua debacle has added another layer. Dana White and TKO became involved as the United States emerged as a possible destination, while Eddie Hearn fought to preserve Joshua’s agreement for the biggest British heavyweight fight in decades to happen in the UK.

Alalshikh also publicly preferred the United States before the fight moved back toward Britain.

Hearn and Frank Warren were central to the original Saudi boxing boom. Alalshikh now appears to favor working closely with TKO and Zuffa, leaving boxing facing another potential divide depending on how much Saudi money remains available.

That question has become even more significant after another PIF-backed sporting venture, LIV Golf, filed for Chapter 11 bankruptcy this month. LIV is restructuring rather than disappearing, but PIF has decided to discontinue its funding after the 2026 season.

Boxing’s Future Investment

WBN has already reported that boxing does not feature among the core investment pillars in PIF’s current strategy through 2030. Alalshikh has also publicly discussed his health and fears over what his condition could mean by 2028 or 2029.

Nobody knows what the financial picture will look like by then.

What boxing does know is that three years of enormous spending made fights that previously seemed impossible, but it did not fix the sport underneath them.

Rafael’s assessment may be brutal, but boxing in September 2026 looks a long way from the sport Alalshikh set out to fix.

About the Author

Phil Jay is the Editor-in-Chief of World Boxing News (WBN), a BWAA-acknowledged boxing news website founded in 2010. A veteran boxing reporter with 16 years of experience, he has interviewed world champions, broken international exclusives, and reported ringside from major events. His work is published worldwide through WBN and distributed on platforms including Apple News.

Read Phil Jay’s full bio and latest stories.

Teofimo Lopez wants Ryan Garcia, but Ryan will not be available for several months. That gives Lopez time to satisfy his WBA obligation against Jack Catterall instead of protecting his position while Ryan takes another fight.

Ryan discussed returning against Isaac Cruz or Angel Fierro in December or January before targeting Teofimo around Cinco de Mayo. Teofimo does not need to spend that entire period waiting.

WBA president Gilberto Mendoza stated in July that the winner of the bout between Rolly Romero and Teofimo must face Catterall next. Catterall now wants that commitment enforced.

“I expect the WBA and Gilberto Mendoza to stand on business, keep their word and honour what was agreed. Like I say, I don’t ask for favours, just what was agreed and what I deserve,” Catterall posted on X.

The WBA may clarify Catterall’s position Monday. President Gilberto Mendoza announced that the championship committee’s decisions will be released then, although he did not identify the divisions involved. With Mendoza already committed publicly to making the Romero-Teofimo winner fight Catterall next, the welterweight ruling will receive immediate scrutiny.

The sporting argument is simple. Ryan can take his winter tune-up while Teofimo defends against Catterall. If both win, the May date between Ryan and Teofimo remains intact.

The business calculation explains the hesitation from Teofimo. Catterall is a southpaw who refuses to provide easy counterpunching opportunities. Teofimo looked erratic against Sandor Martin and Jamaine Ortiz when those southpaws denied him clean exchanges.

Catterall offers another difficult tactical night without delivering the massive financial return of a Ryan event

Avoiding Catterall brings problems. Teofimo would reach May after a long absence while Ryan arrives sharp from a recent winter outing. A dominant victory over Catterall proves Teofimo belongs at the top of the division and makes the bout with Ryan much easier to sell on pay-per-view. Sitting on the shelf also hands Ryan total leverage over purse splits, ring location, and weight terms. Ryan draws massive numbers regardless of who holds the belts. Teofimo needs Ryan to secure the biggest payday of his career.

If the WBA allows Lopez to stay idle while Catterall waits, the organization confirms its mandatory rules mean very little. Teofimo has ample time to make the defense. The only genuine obstacle is the fear that Catterall ruins the entire plan. If Matchroom and Catterall legally corner the WBA and demand an immediate purse bid, the chance of Teofimo vacating the belt is extremely high.

Teofimo knows by now the belt is secondary in this equation. Ryan draws massive gate receipts and pay-per-view buys whether a sanctioning body strap hangs over his shoulder or not. Ryan proved that against Gervonta Davis and Devin Haney, generating elite commercial numbers without needing sanctioning body validation.

For Teofimo, holding the WBA title is useful for billing, but holding onto it becomes reckless if defending it requires facing Catterall. Catterall’s ring movement and refusal to trade invite the exact difficulties that caused Teofimo problems against Jamaine Ortiz and Sandor Martin. A spoiler-style decision loss to Catterall destroys Teofimo’s leverage, ruins the Cinco de Mayo payday, and drops him completely out of the conversation.

Vacating the belt would be a calculated business move rather than a surrender. If Teofimo drops the WBA strap, he removes the obligation, avoids the stylistic trap Catterall presents, and walks straight into negotiations with Ryan based purely on his own name and promotional profile. Dropping the belt costs him sanctioning fees and a piece of hardware, but risking it against Catterall could cost him tens of millions of dollars. If the WBA genuinely threatens to strip him, expect Teofimo to drop the belt first and claim he outgrew sanctioning body politics.

Isaac “Pitbull” Cruz retained his WBC interim super lightweight title with a crushing sixth-round knockout of Nestor Bravo before calling out Ryan Garcia in San Diego.

Cruz improved to 29-3-2 with 19 knockouts after finding the finish at Pechanga Arena following a scrappy opening to the contest.

Both fighters spent portions of the early rounds wrestling for position, forcing referee Thomas Taylor to issue warnings as Cruz struggled to establish the relentless pressure usually associated with his style.

Bravo was eventually deducted a point for throwing Cruz to the canvas in the fourth. Cruz responded in the best possible way by hurting the Puerto Rican with a left hook later in the round.

Bravo recovered and enjoyed a better fifth before Cruz produced the decisive moment.

A perfectly placed lead left hook in the sixth buckled Bravo’s legs and sent him to the canvas. Taylor immediately called the fight off at 1:30, handing Cruz another knockout victory.

“We worked on that punch in camp,” Cruz said. “That specific shot. We took our time and it worked out perfectly.”

Bravo questioned the stoppage afterwards but admitted Cruz had been the better man.

Cruz then wasted little time identifying who he wants next.

“Hey Ryan, I’m here. My next fight is with you. Come on Ryan, come on!” Cruz said.

“December, May or September. If Ryan wants to fight me, it doesn’t matter when. I’ll be ready.”

Marcial Lands One-Punch Finish

Eumir Marcial produced the quickest finish of the televised bouts with a one-punch knockout of Omar Ulises Huerta.

The Filipino Olympic bronze medalist timed Huerta’s left hand and fired back with a right hook that sent his opponent crashing to the canvas.

The contest was over at 1:08 of the third round, moving Marcial to 8-0 with five knockouts.

Blancas Remains Unbeaten

Daniel Blancas continued his unbeaten rise at super middleweight by stopping Sergio Jimenez in the seventh round.

Jimenez had never previously been stopped, but Blancas gradually broke him down with pressure and repeated attacks to the body. A ringside doctor examined Jimenez after the sixth before allowing him to continue.

Blancas picked up where he left off until referee Ray Corona decided Jimenez had taken enough at 1:38 of the seventh. Blancas moved to 16-0 with eight stoppages.

Verde Survives First Knockdown

Green Frame experienced the first knockdown of his professional career before recovering to stop Guillermo Hernandez in five rounds.

The Mexican Olympic silver medalist was caught off balance by a right hand in the third but quickly regained control.

Hernandez continued to absorb punishment until the contest was halted at 1:46 of round five. Verde improved to 7-0 with four knockouts.

About the Author

Phil Jay is the Editor-in-Chief of World Boxing News (WBN), a BWAA-acknowledged boxing news website founded in 2010. A veteran boxing reporter with 16 years of experience, he has interviewed world champions, broken international exclusives, and reported ringside from major events. His work is published worldwide through WBN and distributed on platforms including Apple News.

Read Phil Jay’s full bio and latest stories.