On a recent earnings call, TKO President Mark Shapiro described the Benn deal as a “superfight” investment funded externally by Turki Alalshikh rather than routine company spending. That description clarifies the difference between an opening move intended to establish presence and the long-term approach the company intends to take.
The UFC provides a useful comparison because its structure is tightly controlled. The organization manages its roster, sets the fights and determines compensation within one system. Big names still earn sizable purses, but those negotiations don’t unfold as open bidding contests between rival promoters and networks.
Boxing functioned differently for decades. Rival promoters chase the same fighters, sanctioning bodies attach titles that increase a boxer’s negotiating position, and broadcasters compete for events they believe can deliver subscribers or pay-per-view sales. When a fighter becomes commercially attractive, multiple parties try to secure his services, and that competition often pushes earnings higher.
Sean O’Malley and Michael Page responded against that backdrop. O’Malley questioned the payout, and Page described it as disturbing. Their comments were less about Benn himself than about perception within a shared corporate umbrella, where compensation across sports invites comparison once numbers are released.
The timing is also significant. Benn’s departure reportedly surprised Eddie Hearn, while Frank Warren’s camp explored legal options related to the formation of Zuffa Boxing. Other promoters moved quickly to bolster their broadcast positions and news events. The activity reflects awareness that influence in boxing has always been fluid.
The Benn figure therefore reads as an early indication of whether an open market built on competing interests may gradually give way to a more closed structure.
Currently, a valuable boxer can weigh several offers and choose the strongest proposal. Under the UFC framework, agreements and compensation are determined within one organization, and negotiation unfolds within its boundaries.
That contrast is the real problem.
If that approach were to take hold in boxing, the sport would continue, but the route to big purses would look different. Elite fighters will still earn significant sums, although those sums depend more on internal approval than on competitive bidding.
Benn’s reported number stands out today. The deeper question is who will decide on those numbers in five years.
