Former two-time world champion Paulie Malignaggi has questioned Turki Alalshikh's motives for throwing his support behind Dana White's Zuffa Boxing.
Zuffa, the new promotional company launched by White and TKO Holdings in January, staged its sixth show at the weekend as Shane Mosley Jr stopped Serhii Bohachuk in the main event.
Backed with cash from Sela, a Saudi PIF-owned company, Zuffa has been on a signing spree, quickly assembling a roster of fighters, including the eye-catching capture of top cruiserweight Jai Opetaia and the poaching of welterweight Conor Benn from Matchroom Sports. White has created his own rankings and championship belts and refuses to recognise the existing sanctioning bodies.
With Zuffa operating in a vacuum with its own TV deal with Paramount, and the rest of boxing aligned with Dazn, Malignaggi told The National there's every chance the sport will end up more divided than ever.
The discord comes after a three-year spell in which the arrival of power broker Alalshikh and Saudi money led to a sustained period of glamorous and high-profile cards.
But Malignaggi, 45, who held versions of both the light-welterweight and welterweight world titles, feels Alalshikh's pivot towards Zuffa is bad news for the sport.
“I feel like [Saudi investment] has done some good, making some really big fights, getting fighters paid,” Malignaggi told The National ahead of his BKB title bout against Rolando Dy in Manchester on May 16.
“I guess it remains to be seen if the incentive is to help the sport of boxing or if there's something else on the line there. I am not really understanding the direction they started going with the connection to TKO.
“Because, I thought they were doing some good stuff making those fights and helping fighters out … and really bringing a positive light to the sport. But then aligning themselves with TKO was a bit of a surprise to me. Made me really rethink what their motivating strategy is.”
Ali Act reform will hurt fighters
A highly controversial aspect of Zuffa's boxing takeover bid is their push for changes to the Muhammad Ali Boxing Reform Act. The Act seeks to protect the rights of fighters by preventing individuals from acting as both manager and promoter – a fundamental conflict of interest – and enshrines financial transparency in US federal law.
White and Zuffa have lobbied for an overhaul, allowing for the creation of a centralised “Unified Boxing Organisation”, effectively removing these safeguards and allowing them to pursue the type of UFC-style model that has helped them monopolise mixed martial arts. They argue that a more coherent and credible sport serves the greater good.
Critics, including Malignaggi, believe it will ultimately hurt the fighters and lead to lower pay. The UFC has been widely criticised for its low purses. In 2024, the MMA giant agreed a $375 million settlement with hundreds of fighters following an antitrust lawsuit alleging it had used its market position to suppress wages and limit competition. The company denied wrongdoing.
Matchroom boss Eddie Hearn, an outspoken critic of Zuffa, said he was astonished to learn how little UFC heavyweight champion Tom Aspinall had been making. “When I talked through Tom Aspinall's purses, I nearly fell off the chair,” he said. “If that was our business, he'd be making 10 times as much money. As an organisation, they need him. He doesn't need the UFC.”
US Senate hearings took place last month and a final decision is expected before the end of the year. Malignaggi, though, is not optimistic, describing the reforms as a “done deal”. He also raises the question as to whether this was Alalshikh's plan all along.
“So, my question is, [Saudi Arabia] came in paying good money and helping fighters out, making really good fights and getting positive attention to the sport,” he said.
“But in funding TKO, or funding changes to the Ali Act, and all these other things which are there to help out the fighters. I'm not sure what the intention was.
“My curiosity is … was it a bit like a Trojan horse? Like Turki Alalshikh using Matchroom and Queensbury to sort of enter the sport, and then make himself an influence and then jump ship to the enemy who is trying to basically do a takeover. [Trying to] change the business landscape of the sport of boxing to a more UFC-style model? Is that what he was trying to do? If so, if that's the case, then that's a pretty sinister intent.”
One last hurrah with BKB
Although more well known as a pundit these days, Malignaggi is still competing and will face Dy at the AO Arena in Manchester for the BKB super welterweight title this Saturday. Should he be victorious, he will follow Austin Trout as the only other man to win world titles in professional boxing and the bare-knuckle code.
Malignaggi understands why people are squeamish about the latter, although he argues that it's actually safer as combatants are unable to punch as hard without gloves to protect their hands from pain and injuries.
Despite a successful post-boxing career as a pundit and an investor in ProBox TV, he still enjoys living the life of an athlete and the thrill of competition.
“I want to be a disciplined and regimented person, and this helps with that,” he said. “There's also the opportunity to win something and add to the locker of accomplishments. You know, two-sport world champion. Certainly that's a big motivator.
“It was one of the things that was really pushing me a year ago when I first embarked on this journey. It was to hear the words 'and new' and to hear the ring announcer talk about this bout being for the BKB championship of the world.
“In my training every day, it's something that I kind of go back to. To hear those things again, to be part of a dramatic moment like that again one last time, with a chance to win something so impressive, it's a really fascinating thing for me.”
