This sound is from The Great White Hype (1996)

"The Great White Hype" is a comedy film released in 1996 that delves into the world of boxing and racial tensions. The movie follows the charismatic, flamboyant boxing promoter, Rev. Fred Sultan, brilliantly portrayed by Samuel L. Jackson. Hoping to revive the sport's popularity, Sultan orchestrates a hyped-up bout between the current heavyweight champion, James "The Grim Reaper" Roper, played by Damon Wayans, and a seemingly untalented white challenger named Terry Conklin, portrayed by Peter Berg.

As the promotional campaign unfolds, the film hilariously exposes the underlying racism and exploitation within the boxing industry, satirizing the media and societal perceptions. With a cast that includes talented actors like Jeff Goldblum, Jon Lovitz, and Jamie Foxx, "The Great White Hype" offers a thought-provoking exploration of race, fame, and the cynicism in sports entertainment.

If you're interested in exploring the soundscape of this movie, you can play and download the soundtrack or score from here.