Saudi Arabia's Public Investment Fund (PIF), with a budget of €650 billion, has invested in football, golf, tennis and motor racing, among other sports. It is set to host the 2034 FIFA World Cup (it was the only association to submit a bid before the deadline of 31 October last year) and many other events of lesser appeal.

The aim is clear: to present itself to the world as a prosperous, open and influential nation. To position itself as a leader in hosting events, and to have the world see it differently.

Eight years ago, the Saudi Vision 2030 project was launched, conceived by Crown Prince Mohammed bin Salman. Its main aim is to move the country's economy, which has been criticised by the international community for human rights abuses, away from its reliance on oil and towards other sources of income such as tourism, boosting the private sector and creating real jobs.

Within this framework, UFC the PIF continues to expand, this time targeting boxing. It is in talks with various boxing officials to create a new league that would change the foundations of the sport as we know it today.

As always, the Arabs from the richest region in the world in terms of oil and related businesses are not satisfied with small things. They are negotiating with various promoters to create a league that will unify the sport and guarantee only the best fights in the world, apparently under their umbrella.

These talks would involve the most important figures in the world of boxing, who would be given economic and organisational participation (in exchange for their best boxers competing in the league). The format would be similar to that of the UFC, which boasts of being the largest mixed martial arts (MMA) organisation in the world. 

The UFC presents the best international fighters, specialists in all types of martial arts and disciplines, who fight according to rankings and are organised by a single entity to stage fights and events around the world.

In boxing, there are several governing bodies with their own belts and peculiarities, both in professional and Olympic boxing (IBA, WBO, WBA, IBF, WBC), and countless promotional companies representing their boxers.