Governor Cuomo says the economics that go with professional mixed martial arts can be a knockout for New York's economy. Joined by Ultimate Fighting Championship ex-champions Ronda Rousey and Chris Weidman, Cuomo signed legislation officially ending the state's ban on the sport. “Madison Square Garden is the international icon for great sports events,” Cuomo said on Thursday. “The economics that go along with the sport are undeniable.”
Cuomo said professional MMA attracts millions of viewers and its growth has been exponential and global. Based upon the success in Las Vegas, which has hosted many events, Cuomo estimates the sport will be a great economic engine for New York and attract people from out of state.
"Buffalo, for example, you bring that Canadian market down, you bring those dollars into the Buffalo market," Cuomo said.
Albany estimates MMA to eventually generate $137 million in economic activity. The UFC, the sport’s largest promotion, announced plans at the signing to hold its first New York show November 12 at the Garden.
The law doesn’t take effect until September, giving the New York State Athletic Commission time to add two members, adopt regulations, train staff and begin licensing promoters, trainers and fighters.
The sport’s violence drew opposition from some lawmakers and proposals from others to better protect fighters, who wear small gloves and engage in a combination of kickboxing, wrestling and jiu-jitsu, often inside a cage or other enclosure. The legislation is designed to bring the amateur sport, which has grown unregulated across the state, under state-authorized supervision.
Provisions added to the law raise the insurance required to $50,000 for fighter injuries, a $50,000 death benefit and $1 million for life-threatening brain injuries. It also authorizes the state to study potential funding mechanisms for long-term care of fighters who develop degenerative brain conditions.
New York was the last holdout in the nation to legalize professional MMA.
