The rumors were true. Oscar De La Hoya has sold Ring Magazine to Turki Alalshikh. I spoke with De La Hoya early on Monday morning, and he confirmed the sale and the price paid for the storied brand.
I asked De La Hoya about numbers, and he confirmed that Alalshikh purchased the magazine for $10 million. When De La Hoya bought the magazine in 2007, he paid $7 million.
“I did have some conversations with His Excellency,” De La Hoya said. “As you know, he loves boxing. One of the staples of the sport is the publication called the Ring Magazine, which was established in 1920. Look, he obviously made the offer that we could not refuse. It was an asset that I held onto for many years. We were steadily holding on to it, keeping it alive. We switched it over to digital, which was a brilliant idea because we were getting traffic that was unheard of.”
The Ring Magazine and the title in every weight class still hold weight, but the publication could benefit from renewed vigor and cash flow. While it is unlikely the branding for the magazine will change, the new owners could add a new coat of paint.
“I just thought one day, you know I think it’s time to release this asset, sell it and move on to other things,” De La Hoya continued. “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 to give fans the best content.”
Here is a look at the entire interview with De La Hoya, where he also discussed the Matchroom vs. Golden Boy five-v-five concept, Ryan Garcia’s return, and more.
Alalshikh took to social media on Monday evening and confirmed his purchase while offering a few key details. The print version will be returned “immediately after a two-year hiatus,” and the magazine will be available in the United States and the United Kingdom. According to Alalshikh, the magazine will be completely independent and have no connections to Riyadh Season.
Alalshikh wants to restore the validity and relevancy of the Ring rankings while also planning an annual “extravagant awards ceremony to celebrate the best in the boxing industry.” Also, the Ring Magazine website is getting a makeover, and a new mobile app is in the plans, with both set to launch “in the coming weeks.”
The plan is to sell Ring Magazine merchandise and to digitalize the entire archive. Here is the post from Alalshikh.
These plans are wildly exciting for the sport, as has been much of what Alalshikh has done for boxing over the past two years. There is so much that hasn’t been explored as it pertains to mobile apps, boxing records, scouting reports, and more interactive concepts.
Perhaps the major push into the next generation has arrived in a repackaged version of the most storied and respected publication in boxing history.
