TKO Group Holdings presidents Ari Emanuel and Mark Shapiro appeared on The Pat McAfee Show today and dropped major news on Zuffa Boxing’s rapid development. Mark Shapiro revealed that international media deals are imminent and boldly projected that the new boxing venture could eventually reach a valuation in the $5–10 billion range — potentially rivaling the UFC’s current standing.
Mark Shapiro and Ari Emanuel talk Zuffa Boxing.
Shapiro says they will announce some International deals in the next week or two.
Later, Shapiro says UFC and WWE are $20B properties each.— Jed I. Goodman © (@jedigoodman) February 6, 2026
Key quotes from Mark Shapiro on Zuffa Boxing:
“Boxing is a big opportunity for us, right? We’ve got Dana White and Nick Khan driving this. There’s a lot of history of fights that should have happened that didn’t happen — corruption, pay-per-view, closed circuit… So if we can make a UFC of boxing — think about, really a closed league. We’re signing 200 fighters right now. Consistent fights.
We’re already on Paramount Plus, and we’re about to announce some international deals. This could become the next behemoth for us.”
When asked how close the international deals are:
“Very. Well, we should be announcing something in the next week or so.”
Shapiro later doubled down on the upside:
“I think that business for us could be as big as our UFC business. And our WWE/UFC right now — UFC and WWE are $20 billion properties. $20 billion — each. So boxing, if it’s 5, if it’s 10 — give us some time. Like, that’s a huge grower.”
The comments confirm that Zuffa Boxing is moving fast. The promotion is building a fighter roster of hundreds, modeling itself after the UFC’s closed-league structure to deliver consistent, high-level cards without the promotional fragmentation that has long plagued boxing.
Domestically, events are already secured on Paramount+ for 2026. The pending international partnerships — expected to be announced in the coming days or weeks — would give Zuffa Boxing global streaming reach and set the stage for rapid expansion.
With Dana White and Nick Khan leading the charge and TKO’s full financial and promotional muscle behind it, Zuffa Boxing is positioning itself as the potential disruptor the sport has needed for decades.
Boxing fans should keep a close eye on TKO’s next announcements — the international deals Shapiro teased could be the catalyst that turns Zuffa Boxing from ambitious project to legitimate third pillar of the TKO empire.
