Thanks to the state athletic commission totally dropping the ball at a pro boxing event at Madison Square Garden a couple years back that resulted in a Russian boxer getting brain damage, when the MMA bill was passed earlier this year in New York State it included a provision requiring a million-dollar traumatic brain injury insurance policy.
This has essentially killed boxing in the state, but that’s another story entirely. In regards to MMA, it’s made putting on events hella expensive. Case in point: UFC 205, which is slated for November 12 at MSG.
As per ESPN, insurance costs alone for the UFC to cover all the fighters as required by law will exceed $40,000. Yikes!
The UFC has secured a New York state-approved policy to insure every fighter on its Nov. 12 event up to $1 million in case of traumatic brain injury.
New York Department of State spokesperson Laz Benitez confirmed to ESPN that the state has approved a policy written by insurance company AIG.
According to UFC officials, the cost of the policy is $1,675 per athlete per fight. With 13 fights scheduled to take place at UFC 205 at Madison Square Garden, the promotion is looking at a cost of $43,550 to meet the new standard.