Oscar De La Hoya gives significant update on $10 million sale of The Ring magazine to Saudi Arabia's Turki Alalshikh

Oscar De La Hoya shared an important update regarding the $10 million sale of The Ring magazine to Turki Alalshikh. As chairman of Saudi Arabia’s General Entertainment Authority, Alalshikh has been instrumental in elevating boxing’s profile through Riyadh Season, not only within the Kingdom but also across the global sports landscape.

In September, reports emerged suggesting that De La Hoya had apparently sold The Ring to Alalshikh, 17 years after purchasing it for $7 million. The publication is renowned for its prestigious Ring Championship belt, held by world-class fighters such as Oleksandr Usyk, Canelo Alvarez and Artur Beterbiev.

During an interview with Forbes, De La Hoya confirmed the sale of 'The Bible of Boxing' to Alalshikh for $10 million, revealing that the Saudi stakeholders presented him with an unmissable opportunity. 'Golden Boy' expressed confidence that, under Alalshikh's stewardship, The Ring magazine is in capable hands and poised to further expand its brand:

"The offer from Turki Alalshikh was an offer that I could not refuse. It’s in great hands. I strongly feel that Turki Alalshikh, because of his love of the sport, is going to continue to grow the brand and make sure that the Ring Magazine continues to thrive, grow, and give fans the best content."

Check out Oscar De La Hoya's comments below (17:22):

The Ring magazine halted its regular publication at the close of 2022, after a century of printing, transitioning to a digital-only format. However, in an announcement on X, Alalshikh disclosed that the print edition will make an immediate comeback, with plans for it to be available in the US and UK markets.

Check out Turki Alalshikh's post below:

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When Oscar De La Hoya slammed Turki Alalshikh over expanding influence in American boxing

Turki Alalshikh has been on a determined campaign to shift boxing's global hub from North America to Saudi Arabia, bringing many of the sport’s top names and promotions to his side.

Due to Alalshikh’s efforts, Riyadh Season made its debut on American soil on Aug. 3 in Los Angeles, featuring a super welterweight title fight headlined by multi-division champion Terence Crawford against Israil Madrimov.

The announcement of Riyadh Season’s entry into the North American market at that time was met with resistance from Oscar De La Hoya, who appeared to feel threatened as a competing promoter. 'Golden Boy' turned to X in April and wrote:

"No promoter is coming into my territory and think they can take over 'my' sport!! This is war!!! This is aimed towards a person who doesn’t know sh*t about boxing!!!"

Check out Oscar De La Hoya's post below: