Carl Froch fears boxing is being “ruined” by the millions of pounds it is accepting from Saudi Arabia.

The 46 year old retired after the second of his two victories over George Groves, in 2014 – three years before Floyd Mayweather cynically fought the mixed martial artist Conor McGregor and before boxing started to be regularly staged so far from its traditional homes and to embrace often distasteful fights.

There are occasions it is close to unrecognisable from where it was in 2008, when Froch became the WBC champion at super middleweight with victory over Jean Pascal. More relevant to Froch is the extent to which he believes the increased sums of money coming into the sport aren’t being reinvested in what he sees as more responsible causes.

Froch was the guest of honour at a lunch hosted by the Boxing Writers’ Club, and was reflecting on the opportunities and life boxing had given him when he then said: “It’s being ruined by Saudi Arabia at the minute. The money’s killing it. 

“There’s a lot of money floating around and not enough getting put back into grassroots boxing, and not enough going into the aftercare of boxing and retired fighters and injured fighters. Some of them hundreds of millions being invested could go to the [British Boxing] Board of Control and be used to look after fighters. 

“I’m speaking to Eddie Hearn in a couple of weeks and I’m going to try and suggest something. But unfortunately most people are greedy; most people are selfish. It’s just inherent. 

“I’m not calling anybody out. I’m not putting Eddie Hearn in that bracket – but promoters and top fighters only think about one thing and that’s themselves and that’s the sport we’re involved in as well, unfortunately.”

Eddie Hearn’s Matchroom were promoting Froch when he earned his biggest purses – in his rematch with Mikkel Kessler, and twice against Groves.

“There’s a lot of money in it at the top level,” he said. “So I don’t think it’s good for it.”