Saudi Arabia’s Public Investment Fund (PIF) is ‘in discussions’ with multiple promotions to create a league, according to stunning reports.

Boxing is going through a major resurgence under the guidance of advisor Turki Alalshikh, who has worked closely with British promoters Eddie Hearn and Frank Warren to make some of the biggest fights in the sport.

Stacked cards have been out together in conjunction with Riyadh Season, culminating in the undisputed heavyweight showdown between Tyson Fury and Oleksandr Usyk.

Alalshikh is now looking to reshape the whole landscape of boxing, according to a report.

Saudi Arabia’s PIF is in talks with multiple boxing stakeholders to create a league, effectively the UFC of boxing.

PIF is looking to invest in a joint venture with some of the sport’s stakeholders that would feature more boxing bouts.

A source claims a handful of leading promotions including Matchroom Boxing and Golden Boy Promotions are involved in the discussions that could result in a deal valuing the new entity between $4-5 billion.

PIF wants to create a venture that would bring the main sport’s organisers together, the report added.

Alalshikh was overseeing the final discussions around a potential deal about a month ago.

It’s currently unknown how the league will be structured.

Turkish Alalshikh is in talks with multiple promotions to reshape boxing. Image: Getty

Boxing is currently made up of four boxing governing bodies including the World Boxing Council (WBC), the International Boxing Federation (IBF), the World Boxing Association (WBA), the World Boxing Organisation (WBO), which each have their own rules.

Riyadh Season, meanwhile, is set to expand away from Saudi Arabia with Los Angeles, California, hosting a huge card on August 3.

A super-welterweight showdown between Terence Crawford and Israil Madrimov headlines a stacked card that also features Isaac ‘Pitbull’ Cruz, Andy Ruiz Jr, Jared Anderson and Andy Cruz, among others.

And Riyadh Season is also planning a monster card at Wembley Stadium in London, England, on September 21, with Anthony Joshua set to top the card.

SPORTbible have reached out to Matchroom Boxing for comment.