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Who knew a war could affect a boxer’s paycheck? Well, if what Fannon Boxing, a prominent social media boxing platform, is claiming turns out to be true, the ongoing conflict in West Asia could end up cutting the purses of some of the biggest boxers in the world. With the United States and Israel currently locked in a conflict with Iran, tensions in the region have reportedly led to the effective closure of the Strait of Hormuz—disrupting oil exports, rattling global trade, and severely affecting markets. And according to the host of Fannon Boxing, that instability could put the purses of fighters like Canelo Alvarez, Shakur Stevenson, and others at risk.
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“There’s a bunch of news that has come out of Saudi Arabia over the last couple of days…,” Fannon said in a video on X. “I’m going to tell you that fighters like Shakur Stevenson, Terence Crawford… Canelo Alvarez, guys Richardson Hitchins, all these Devin Haney, all these guys that were fighting on these Turki Alalshikh cards… You can pretty much count that out. Those days [are] about to leave.
“Turki Alalshikh, the Public Investment Fund [PIF], which is the money that Turki Alalshikh uses to fund these fights, supposedly, that’s over with. They’ve got $950 billion in [its] sovereign Royal wealth fund… To invest in their country and invest in tourism. They’re losing about a hundred billion dollars a week… between the Strait of Hormuz being shut off, which means there’s no oil.”
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Fannon also pointed to the bombing of US military bases and petrochemical plants in the country to justify his claim that Saudi Arabia is losing close to $100 billion every week.
Don’t count your money yet boxers! @Turki_alalshikh may be about to pull the plug on boxing…. This is how I know…. pic.twitter.com/kdkPKSvTBR
— Fannon (@FannonBoxing) April 7, 2026
“So it’s simple math, a hundred billion dollars a [week] for Saudi Arabia over the course of 12 months…,” Fannon continued. “That’s 1.2 trillion. That’s more money than they have in the PIF. So all of the days of this exorbitant spending on things related to Riyadh Season [are] most likely over.”
But is that really the case? Despite Fannon’s claims, Turki Alalshikh is currently backing the upcoming Tyson Fury vs. Arslanbek Makhmudov bout, scheduled for April 11, 2026, at Tottenham Hotspur Stadium. And with Tyson Fury coming out of retirement for the bout, his purse may not match what he earned against Oleksandr Usyk, but it’s almost certainly still enormous. Not only that, but the Saudi boxing figurehead is also tied to another upcoming major event.
The Oleksandr Usyk vs. Rico Verhoeven showdown—billed as ‘Glory in Giza’ and set for May 23 in Egypt—also has financial backing from Saudi Arabia. Not to mention, Fannon’s claim that the Public Investment Fund is losing a billion every week isn’t exactly accurate. They may be losing out on potential revenue due to the ongoing conflict, but what they already have is still there. The PIF is estimated to be worth roughly $1.15 trillion to $1.3 trillion. Though that figure reflects total assets, it’s not liquid.
And even if liquidity were a concern, the broader reality is that geopolitical tensions—particularly disruptions around the Strait of Hormuz—have actually benefited Saudi Arabia in a small way.
How is the fortune of Saudi Arabia shaping in 2026?
According to a report from Reuters, Saudi Arabia has been handed a jackpot from the disruption in global energy markets, even as much of the world grapples with inflation and supply shocks. The closure of the Strait of Hormuz sent oil prices soaring, with Brent crude jumping 60% in March. While several Gulf producers suffered steep losses due to their reliance on the chokepoint, Riyadh’s infrastructure allowed it to capitalize on the crisis.
Crucially, Saudi Arabia can bypass Hormuz through its East–West pipeline, maintaining exports via the Red Sea. This ensured that, despite a 26% drop in export volumes, higher prices still boosted overall revenues. The gains are further amplified through increased royalties and taxes from Saudi Aramco, which remains the backbone of the kingdom’s finances.
However, a report from Bloomberg presents a different theory. They claim Saudi Arabia’s crude oil exports have actually dropped 50% in March 2026 because Iran shut down tanker traffic through the Strait of Hormuz, blocking ships from leaving the Persian Gulf. As a result, Saudi shipments averaged just 3.33 million barrels per day, though the fall was partly offset by rerouting some oil to Red Sea terminals on the kingdom’s west coast.
Meanwhile, a report from the Wall Street Journal also claims mega projects like NEOM’s ‘The Line’ have basically stopped. The WSJ report has highlighted that the recent Hormuz shutdown has already cost Saudi Arabia more than $10 billion in losses, halved oil exports, shut down fields and plants, and scared off investors and events like the F1 race, concerts, etc.
Many foreign companies in the country are now working remotely or closing offices.
Despite contrasting reports, there haven’t been any fight cards canceled by the Saudis yet. In fact, they have announced a slew of cards for 2026 already. And since the war could reach mediation soon, Canelo Alvarez, Shakur Stevenson, and others can sleep soundly, at least for now. Yet, hosting fights in the country can be a risky affair because Iran has proven its missiles can reach them.
Written by
Edited by
Gokul Pillai