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A revised version of the bipartisan Muhammad Ali American Boxing Revival Act was introduced in the U.S. Senate on Thursday by Commerce Committee Chairman Ted Cruz (R-Texas) and Senator Jacky Rosen (D-Nev.).

The controversial piece of legislation, backed by TKO — the parent company of UFC, WWE and Zuffa Boxing — passed the U.S. House of Representatives in March by an overwhelming majority.

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The Ali Revival Act allows for the creation of Unified Boxing Organizations (UBOs). UBOs would remove the sport’s separation between promoters and sanctioning bodies, allowing promotional entites to run their own rankings systems, award titles and organize events under the same banner. The new bill essentially allows Zuffa Boxing to sidestep the guardrails of boxing and run similarly to the UFC.

Many within combat sports are cautious about supporting the act because the UFC has a virtual monopoly over MMA, while WWE has a similar market share in wrestling, and thus there are concerns that Zuffa could reach the same level in boxing, which could be detrimental to fighters.

Nico Ali Walsh, the grandson of Muhammad Ali and one of the biggest detractors of the bill, told Uncrowned earlier this week that the House’s version of the Ali Revival Act would not pass in the Senate. Walsh said he has been in constant communication with Senators about amending the House’s version to better protect fighters.

“Financial transparency, free agency, length of contract, rankings transparency,” Walsh told Uncrowned of the four major areas that needed to be improved in the Ali Revival Act.

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The Senate’s version of the bill introduced Thursday is largely similar to the one proposed in the House, though there are notable differences.

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Under the new proposal, a boxer’s first professional promotional agreement would be limited to three years, while subsequent promotional contracts could not exceed six years. Those protections would apply not only to UBO agreements, but also to contracts between boxers and traditional promoters across the sport.

Fighters would also be permitted to communicate with rival promoters or UBOs during the final 90 days of an existing agreement, although they would not be allowed to sign a new deal until the original contract expires. The House version provided a 30-day negotiation window.

The Senate version would allow a UBO to recognize or use titles and rankings issued by outside organizations, potentially preserving the possibility of crossover fights and undisputed champions involving fighters from different systems.

It also removes language from the House bill that sought to limit sanctioning bodies and UBOs to one champion per weight division, excluding interim titles.

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The Senate proposal adds further disclosure requirements relating to rankings. UBOs operating their own ratings systems would be required to make public their ranking criteria, bylaws, appeals procedures and the identities of officials involved in voting on boxer ratings. That information would be submitted to the Federal Trade Commission and Association of Boxing Commissions or published on a freely accessible website.

The bill also retains a firewall between UBOs and managers intended to reduce financial conflicts of interest. UBO representatives would be prohibited from holding a financial interest in a boxer’s management or employing managers who represent fighters competing in covered bouts.

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The Senate bill will now have to pass through the Commerce Committee and then the full Senate. If approved, lawmakers would then need to reconcile it with the House version before a final bill is signed into law.

Congress has until the end of its current term in early January to reach an agreement, otherwise the legislative process would have to begin again under the next Congress.

The Senate proposal would apply to professional boxing matches held at least 180 days after the legislation is enacted, while the House bill would’ve taken effect 30 days after being signed.

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