As the director I would tell auntie May to stand on the corner of the boxing arena so it the arena is next to them and you can see the shape. Also the man standing next to her is on the other side to her left. You also need to make the audience see everyone on the stage. Then the ref should be loud and clear to the audience because announces everything.
This will be an example. So the ref say his line standing in the middle of the boxing arena and the boxer will be in the corner, in the boxing arena next to auntie may and the man. Then auntie may say her line ten the man. After they say their line auntie may comes in the boxing arena and facing toward the audience. Then the boxer say his line clearly with gestures. Also auntie Mays old so her posture will be slanted forwards. Now auntie may says her lines and then start to fight. So here they do gestures to make it funny or weird or serious. So that's what will happen then we will have to wait what happens after and see who wins.
This is what meant to happen and you need to add affects and lots of gestures to make it real also a lot of facial expression and your projection needs to be clear because if the audience doesn't hear what their talking about they don't know what's happening. If you don't add this then it wouldn't go that well because you'll be saying your lines with with no projection and not being loud and clear all you would do is say your lines normally and do everything normally. So this is what I would do as a director.