UFC boss Dana White has announced his long-awaited move into boxing after signing a deal with Turki Alalshikh to form a 'magnificent' new league that will make the sport 'great again'.

TKO Group, the company that houses both WWE and UFC, entered a multi-year agreement with the Saudi General Entertainment Authority to create the promotion.

The venture is being fronted by UFC president White and WWE boss Nick Khan, with TKO responsible for running the day-to-day operations of the promotion.

'We have just done a deal to start a new boxing league with Turki, who absolutely loves the sport of boxing,' White said.

'The model is proven to deliver the fights that the fans want to see. The best will fight the best and the fighters will continue to move up the rankings and become world champions.'

Alalshikh added: 'I am very happy today. I give the flag of boxing to the best man who can handle it. He has a tough job now but I'm sure he will deliver to the people and the fans the magnificent league and get boxing great again.'

White, who has spearheaded the extraordinary rise of the UFC and is a key ally of Donald Trump, has long outlined his desire to take over boxing.

On Wednesday, his new career move was confirmed, with the first event to be held in 2026.

TKO did not announce the name of the league but it marks the latest move in Saudi Arabia's massive spending on sports, driven by Crown Prince Mohammed bin Salman.

Alalshikh has become a central figure in boxing over recent years, with many of the biggest fights now headed to the Middle East.

The kingdom hosts Formula One and funds LIV Golf, while the 2034 World Cup is also headed to the country. Critics have accused Saudi Arabia of 'sportswashing' - an effort to rebrand a nation´s troubling public image.