Written by D. Walsh 26th May 2025.

Fading Glory: The Decline of American Boxing and the Battle for Its Future

For decades, boxing in the United States wasn’t just popular – it was cultural. From Ali’s charisma to Tyson’s menace, America was the undisputed capital of the squared circle. Fast forward to 2025, and it’s hard to deny the momentum has shifted elsewhere. America still has great fighters, sure, but the sport’s global centre of gravity is moving – eastwards, southwards, and out of its reach.

The Heavyweight Problem

Nothing sells boxing quite like a marquee heavyweight. But the division that once had American giants like Holyfield, Foreman and Tyson, is now largely void of top-tier U.S. names. The last American to hold a recognised world heavyweight title was Deontay Wilder – and that reign ended emphatically in 2020.
In the latest Ring Magazine heavyweight rankings (May 2025), not a single American fighter features in the top 10:
  1. Oleksandr Usyk (Ukraine)
  2. Tyson Fury (UK)
  3. Daniel Dubois (UK)
  4. Joseph Parker (New Zealand)
  5. Agit Kabayel (Germany)
  6. Anothony Joshua (UK)
  7. Filip Hrgović (Croatia)
  8. Zhilei Zhang (China)
  9. Martin Bakole (Congo)
  10.  Efe Ajagba (Nigeria)

Show Me the Money (And It’s Not American)

Boxing is still lucrative – just not for American stars. According to Forbes’ 2025 Highest-Paid Athletes list, 3 boxers made that list:
  • Tyson Fury (UK): $146 Million
  • Oleksandr Usyk (Ukraine): $101 Million
  • Canelo Alvarez (Mexico): $80
No American boxer even cracked the top 50. Compare that to the 1990s or early 2000s, when names like Mayweather, De La Hoya, and Tyson were mainstays.
In some somewhat distressing news Jake Paul is reported as the highest earning American Boxer.

Once the beating heart of the sport, American boxing now finds itself outpunched by global competition, a shrinking heavyweight pool, and the UFC juggernaut.

UFC: The Knockout Competitor

While boxing has faltered in the U.S., UFC has surged. The UFC's merger with WWE in 2023 to form TKO Group Holdings under Endeavor was a masterstroke. The UFC consistently draws higher PPV numbers, garners more mainstream media coverage, and dominates younger demographics on platforms like TikTok and Instagram.
According to Wrestle Economics (2024), the UFC generated over $1.4 billion in revenue (With TKO generating $2.8 Billion through the WWE and UFC), while boxing PPVs – across all promoters – brought in significantly less, especially when diluted across networks, platforms, and fragmented schedules.

Saudi Arabia: The New Mecca of Boxing

Add to that the entrance of Saudi Arabia, which is hoovering up big fights like a Dyson on steroids. Turki Alalshikh and the General Entertainment Authority have turned Riyadh into the sport’s epicentre. All with Saudi-funded mega-fight after mega-fight.
American fans have to set alarms for 3 AM just to watch these huge PPV extravaganzas – because they’re not happening in Vegas anymore.

PBC Problems and the Fragmentation Factor

Premier Boxing Champions (PBC) was meant to be a saviour – but its recent move from Showtime to Amazon Prime has been rocky. Showtime exited boxing entirely in 2023. The stable remains strong, but many fighters (like Jermall Charlo and Errol Spence) have been plagued by inactivity.
Other promoters – Top Rank (ESPN), Golden Boy (DAZN), Matchroom (DAZN/Sky) – all compete in silos, leading to fight delays, long layoffs, and unification showdowns that take years to materialise.

What’s the Solution?

  1. Centralised Governance – Does boxing need a governing body that can enforce mandatories, set calendars, and cut through politics. If that sounds like fantasy – But Dana and Turki have other ideas.
  2. American Amateur System Reboot – The USA Boxing amateur programme needs urgent reform. At the 2024 Paris Olympics, the U.S. failed to win a gold medal in boxing – the first time in decades, only securing a single bronze medal.
  3. Embrace New Media – Fighters like Ryan Garcia are showing the way. He may be controversial, but he's cracked how to engage fans outside the ring. Boxing must court Gen Z and not rely on pay-per-view dinosaurs.
  4. Invest in Marketable Heavyweights – The U.S. has raw talent in Jared Anderson and Richard Torrez Jr., but they need meaningful fights, slick promotion, and urgency. These fighters can’t spend 5 years in developmental purgatory.
  5. Schedule Smart – Stop counter-programming against the UFC. Fight weekends should be sacred – not scattergun.

The Road Ahead

The good news? Boxing is still alive – and if it can shed the politics, revive American investment, and continue embracing globalism without forgetting its roots, there's hope.
The flame hasn’t gone out in the U.S. – but it’s flickering. Whether it roars again or fades completely depends on what the next five years bring.
And as Tyson Fury once said: “You never know what’s around the corner.” Just don’t be surprised if it’s a Saudi prince with a billion-dollar offer.