The Saudi boxing chief was disappointed by the British fighter's announcement that he was quitting the sport earlier this week and, while he respects The Gypsy King's decision, hasn't given up hope that he could be persuaded back to the ring.

Alalshikh - who has been key to the sport's increased presence in the Middle East in recent years - told talkSPORT: "First of all, this kind of decision has to be from the fighters.

"It must be whatever they are thinking if they have something to give or not. As a fan of boxing, I don't like it.

"We want to see Tyson in more big fights, but I can understand his decision.

"But over time this decision can change."

Alalshikh plans to leave Fury alone for a while but will approach the former heavyweight world champion about returning.

He said: "I will support him and discuss it with him. I will leave him for some time to be with his family, then we can discuss it.

"But a lot of rumours don't help us. No-one will propose £500 million for a fight, these numbers are incorrect."

However, Fury's promoter Frank Warren believes that the fighter's announcement was genuine and won't try and persuade him to change his mind.

He said: "My take on it is that he is retired.

"He's retired, I'm not going to ring him and try to debate with him.

"I said immediately after that fight (against Oleksandr Usyk), 'Go away with your family, consider what you have got to do. You are a very wealthy man, you have done everything you have to do in boxing, you have had the most magnificent career - a two-time heavyweight champion.'

"And we are going to miss him, boxing is going to miss him."