Boxing has been in slow decline for years. It's largest demographic is males 50+. There have been no charismatic champions for a long time. I doubt if most could name the current heavyweight champ without some quick research. There's still too much gambling and corruption. The field is crowded with too many weight classes. To see a major bout you have to pay $60 on cable and they're usually guys you've never heard of. Frankly, the best athletes having viewed the career of Muhammad Ali, avoid boxing because of the horrific physical toll it takes, so boxing doesn't get the best athletes anymore.
I don't boxing think will die out completely, but it'll probably become one of those more marginal sports like horse racing, if it hasn't already. The younger generation will probably gravitate towards gaudier fighting events like pro wrestling and the cage matches, marginalizing it even further.
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