Saudi Arabia is set to host the world heavyweight title unification bout between Anthony Joshua and Tyson Fury in August, according to promoter Eddie Hearn.
The fight, expected to be one of the most lucrative in boxing history, has been mooted to be taking place the Kingdom for some time, although the rival boxers' camps have been reluctant to confirm its location. The price to host the fight has been reported to cost anywhere between $150 and $200 million.
However, speaking to Sky Sports on Tuesday, Hearn, who promotes Joshua, said: “August the 7th, August the 14th. I think it’s a very bad secret that the fight is happening in Saudi Arabia. It’s the same people we did the deal with for Andy Ruiz - that event was spectacular. As partners they were fantastic as well.
"We’re very comfortable. Anthony’s comfortable; he knows those people. They delivered on every one of their promises last time. We’re ready to go.”
Joshua, 31, defeated Ruiz Jr in Diriyah on the outskirts of Riyadh in their rematch in December 2019 – his initial loss remains his only defeat in 25 professional bouts – to reclaim the IBF, WBA and WBO belts. Meanwhile, the undefeated Fury (30 wins, one draw) is the reigning WBC champion.
The British boxers, who earlier this year agreed to a two-fight deal, have been involved in a heated exchange on social media this past week as tensions increased surrounding finalising a summer bout.
"I saw the tweets from AJ [Joshua],” Hearn said. “He's tired, the fans are tired, and everyone is tired. We're in a stage where people are getting frustrated.
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Deontay Wilder v Tyson Fury 2
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"The deal is done. Now we're on the finer details of the contract, which came back last Friday. It went back last night. They are on calls now in the office about it, and I think at some point people are going to have to take a little bit of a leap of faith in this deal.
"From our perspective and AJ's perspective, we're ready to go. From Tyson Fury's perspective, they've got a couple of lawyers across it from their point.
"There's no reason why it shouldn't happen this week. This is kind of like the moment where you could actually turn around at this point and say, 'This is dragging on too long, or I can't be dealing with this anymore.'
"But we have to nail this, and I'm not going to stop until I nail it, and everyone has just got to move forward collectively. We're ready to go from our side; we're not far away from their side and it is inevitable. But at the same time, we've got to close the door on it."
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
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