Riyadh, Saudi Arabia - In a significant development, Turki Alalshikh, Chairman of Saudi Arabia's General Entertainment Authority (GEA), has acquired The Ring magazine, a publication often referred to as "The Bible of Boxing." This acquisition is part of Saudi Arabia's broader strategy to deepen its involvement in the sport.

Established in 1922 by Nat Fleischer, The Ring has been a cornerstone of boxing journalism, providing comprehensive coverage of the sport for over a century. The magazine is renowned for its authoritative rankings and the prestigious Ring championship belts, which are awarded to fighters who achieve lineal champion status in their respective weight classes.

In 2007, The Ring was acquired by Golden Boy Promotions, a company founded by former world champion Oscar De La Hoya. Under Golden Boy's ownership, the magazine continued to be a leading voice in boxing media. However, in recent years, The Ring transitioned to a digital-only format, ceasing its print edition in 2022.

The acquisition by Alalshikh is reported to have been finalized for approximately $10 million. This move aligns with Saudi Arabia's ongoing efforts to expand its footprint in the global sports arena, particularly in boxing. Alalshikh has been instrumental in bringing high-profile boxing events to Saudi Arabia, including the rematch between Anthony Joshua and Andy Ruiz Jr. in 2019 and the more recent bouts featuring Tyson Fury and Oleksandr Usyk.

In a statement regarding the acquisition, Alalshikh expressed his vision for The Ring: "Today marks a new era for The Ring magazine. We are committed to preserving its rich heritage while integrating innovative approaches to enhance its global reach and influence."

The acquisition has sparked discussions within the boxing community about the potential implications for the magazine's editorial independence and the broader impact on the sport. Some observers have raised concerns about possible conflicts of interest, given Saudi Arabia's increasing involvement in boxing promotions and now media.

However, Alalshikh has addressed these concerns, stating: "Our goal is to uphold the integrity and independence of The Ring. We respect its legacy and are dedicated to supporting its mission to provide unbiased and comprehensive boxing journalism."

Industry analysts note that this acquisition could lead to increased investment in boxing media and potentially more high-profile events in Saudi Arabia. The integration of The Ring into Saudi Arabia's sports portfolio may also facilitate greater access to exclusive content and interviews, enhancing the magazine's appeal to a global audience.

As The Ring embarks on this new chapter under Alalshikh's ownership, the boxing world will be watching closely to see how this development influences the magazine's direction and the sport as a whole. The commitment to maintaining editorial independence while leveraging new resources could position The Ring for continued prominence in boxing journalism.