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UFC paying $1 million insurance plan for UFC 205

FILE - In this Tuesday, July 7, 2015, file photo, the Statue of Liberty stands in New York harbor with the New York City skyline in the background. On Tuesday, March 15, 2016, the Federal Reserve of New York releases its March survey of manufacturers. (AP Photo/Kathy Willens, File) UFC
(AP Photo/Kathy Willens, File)

Hosting events in New York won’t come cheap for any mixed martial arts promotion.

After spending millions of dollars attempting to legalize mixed martial arts in the state of New York, the UFC will pay a $1 million insurance policy for UFC 205. The policy insures each fighter with $1,675 for traumatic brain injuries. With 13 fights and 26 fighters, that puts the total for UFC 205 at $43,550.

New York is the only state to include the $1 million insurance policy, which was written and sold by insurance agency AIG. News of the high-cost insurance policy was first reported by Brett Okamoto of ESPN.

While a profitable company like the UFC may be able to pay the high cost of hosting an event in the Empire State, other promoters — such as boxing’s Lou DiBella — may struggle with the new changes imposed.

“The sport has, for all intents and purposes, been evicted by a legislature willfully ignorant of both the boxing and insurance industries,” DiBella said in a press release (h/t MMA Fighting). “The actions of the powers that be in Albany and their political appointees are depriving New York state residents in the sport of boxing from their livelihoods. Small businesses are being put at jeopardy with no recourse or ability to continue plying their trade. This is a disgraceful abuse of legislative and state power.”

Per MMA Fighting, critics have pointed to the idea that the policies won’t necessarily do much to prevent brain injuries, if not just exempting promoters and the state of New York from liability if the injuries occur down the line.

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