NEW YORK - UFC chief executive officer Dana White spent hours Wednesday afternoon extolling the business potential of modern boxing-the very sport he has repeatedly called corrupt in the past. Through UFC parent TKO Group Holdings,

TKO Group, the company that already houses WWE and UFC, is set to step into the ring with a new boxing promotion as part of a business deal with Saudi Arabia. TKO announced Wednesday it entered a multiyear partnership with Turki Alalshikh,

White and TKO have partnered with chairman of Saudi Arabia’s General Entertainment Authority, Turki Alalshikh, to launch a new boxing promotion, Ring Magazine announced Wednesday. The executive leadership will be anchored by White and WWE president Nick Khan.