"Another nail in the coffin," "Saudis are reviving boxing" - Fans react as Turki Alalshikh acquires The Ring magazine and shares future plans
Turki Alalshikh recently sent fans into a frenzy after completing the purchase of The Ring magazine from Oscar De La Hoya for $10 million. Saudi Arabia's Chairman of the General Entertainment Authority took to social media to announce the deal and shared some crucial updates that will be made.
In an X post, later shared by @MichaelBensonn, Alalshikh confirmed that he had acquired "100% of The Ring magazine" and announced that it would be distributed in print form again after going digital-only for two years. He wrote:
"Earlier this week, I finalized a deal to acquire 100% of The Ring Magazine, and I want to make a few things clear: the print version of the magazine will return immediately after a two-year hiatus, and it will be available in the US and UK markets. The magazine will be fully independent, with brilliant writers and focusing on every aspect of the sport of boxing."
He continued:
"In the coming weeks, we intend to debut a brand new state-of-the-art website and mobile app. We are already in development for a line of Ring Magazine merchandise. The Ring Magazine will be a fully independent company without any involvement from Riyadh Season."
Fans soon flocked to the post's comments section to express their thoughts on Alalshikh's new purchase.
One fan lauded Alalshikh's development and claimed:
"The Saudis are reviving boxing."
Another fan wrote:
"I’ve been a subscriber for a long time and I’m excited for the print copies to return!"
One user slammed the purchase and wrote:
"Another nail in the coffin of this great sport."
Check out some more comments below:
Oscar De La Hoya talks about Turki Alalshikh buying The Ring magazine
Oscar De La Hoya recently addressed Turki Alalshikh purchasing The Ring magazine from him. The boxing icon originally bought the magazine for $7 million in 2007.
In an interview with Forbes, he confirmed that Alalshikh made an offer for the iconic publication and lauded his love for boxing. Explaining the thought process behind making the deal happen, De La Hoya said:
“I did have some conversations with His Excellency. As you know, he loves boxing. One of the staples of the sport is the publication called the Ring Magazine, which was established in 1920. Look, he obviously made an offer that we could not refuse... I just thought one day, you know, I think it’s time to release this asset, sell it, and move on to other things... It’s in great hands." [H/t: Forbes]