A character from the Street Fighter gaming series, however in the USA and England he is known as Vega.
Now, without trying to be complicated:
The boxer (Balrog in USA) was originally known as M. Bison (Mike Bison - geddit?) however owing to legal issues, his name was swapped with Balrog's, however M. Bison is a silly name for a prancy Spanish man, therefore his name was in turn swapped with Vega (M. Bison in USA, the man in red.)
And that's who Balrog really is.