An new economic impact study shows a UFC event would bring millions to New York. By GEORGE WILLIS
If the site of red blood turns off some legislators to mixed martial arts, they might become fans once they learn the amount of green dollar bills the sport can generate. That’s the thinking behind an economic impact study released Monday, showing the millions that could be generated through a UFC event in Buffalo and New York City.
The study commissioned by the UFC and conducted by HR&AA Advisors revealed a UFC event at Madison Square Garden would generate $11.5 million in economic activity and $400,000 in tax revenue for New York City and $555,000 in tax revenue for the cash-strapped state. An event in Buffalo would generate $5.3 million in economic activities.
The release of the study comes as Zuffa LLC, which owns the Ultimate Fighting Championships, renews its effort to get mixed martial arts regulated in New York where it is currently outlawed. The UFC is hopeful is a new bill sanctioning the sport will be passed during the upcoming Legislative session.
“Clearly, New York is an important state to our company and the most important state that currently does not regulate the sport of mixed martial arts,” said Lawrence Epstein, a general counsel for the UFC. “We’re pursuing regulation in the state of New York and we think that makes sense for a variety of reasons.”
Those reasons include; the large New York fan base, the potential media exposure, and the nostalgia of holding an event at Madison Square Garden. “New York is the cherry on top of the dessert,” said Marc Ratner, who handles governmental and regulatory affairs for UFC.
Of the 44 states that have athletic commissions, 36 regulate MMA. A legislative round table will be held in New York on Wednesday to discuss health and safety issues in the sport and educate lawmakers and others interested in the current state of MMA.
A bill to approve the sport was defeated last summer by the state assembly committee on Tourism, Arts and Sports Development because of “the brutality of the sport.” Much of the UFC’s lobbying efforts this time around has been focused on educating lawmakers of rules that promote fighter safety.
“In recent years, mixed martial arts has evolved from its beginnings into a more reformed, organized and regulated sport worthy of our review for sanctioning consideration in New York State,” New York State Senator Joseph A. Griffo said in a released statement. “In the last fifteen years, it has grown into an international phenomenon. It’s long past time to look into officially sanctioning this sport in New York. More than two-thirds of the states commission mixed martial arts matches. There are significant tourist and tax revenue dollars flowing to neighboring states who are hosting these events. We need to immediately examine the potential for the sport to thrive here.”
The full economic impact study can be downloaded at MMAFacts.com.