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Old 06-10-2010, 09:59 PM
atomdanger
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Default UFC 115 Goes Bust in Vancouver

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http://www.bloodyelbow.com/2010/6/10...t-in-vancouver

Ticket prices for Saturday's UFC 115 event in Vancouver appear to be dropping quickly, following speculation that scalpers had scooped up most pre-sale tickets and oversaturated the resale market.

Tickets for the mixed martial arts event at GM Place sold out in 30 minutes on April 13 - two days before the sale was opened to the general public. Members of the Ultimate Fighting Championship Fight Club, who pay $75 a year for a number of inside-access privileges, had scooped up all of the nearly 19,000 tickets, which ranged in price from $75 to $601.

On April 14, the cheapest seats at online ticket marketplace StubHub were listed for $265 US each.
On Tuesday, the cheapest tickets on the same site had dropped to $69. Floor seats were available for $475.

This follows the news MMA Mania reported a couple days back:

Vancouver Athletic Commission chair Mirko (coincidentally enough) Mladenovic said that the price of insurance is so high that the UFC, despite selling out General Motors Place for the event, will most assuredly make no money.

Rumors have swirled that the UFC had to pay in the neighborhood of $12 million to insure UFC 115.
Wow, 70 bucks for the cheapest seat? and floor seats at under 500?
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Old 06-10-2010, 11:24 PM
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Can someone explain this in laymans terms
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Old 06-11-2010, 01:46 AM
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Floor seats at 117 are starting out at 400 on ticketmaster now.
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Old 06-11-2010, 02:32 AM
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Originally Posted by Tyburn View Post

Can someone explain this in laymans terms
What this means is that 3rd parties came in and bought up all the tickets and flooded the resale market, so they have to compete with each other to resell those tickets. Basically, what happens is people find out that they can get good tickets from a scalper or Stub Hub and then people hold off on buying them until they see the prices drop.

The real telling piece of information in that article is the cost of insuring a UFC event in Vancouver. I know there was talk of moving UFC 115 due to legal and liability concerns a few months ago, but to think they are paying 12 million bucks to insure it is just crazy.
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Old 06-11-2010, 03:21 AM
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Originally Posted by J.B. View Post
What this means is that 3rd parties came in and bought up all the tickets and flooded the resale market, so they have to compete with each other to resell those tickets. Basically, what happens is people find out that they can get good tickets from a scalper or Stub Hub and then people hold off on buying them until they see the prices drop.

The real telling piece of information in that article is the cost of insuring a UFC event in Vancouver. I know there was talk of moving UFC 115 due to legal and liability concerns a few months ago, but to think they are paying 12 million bucks to insure it is just crazy.
Yeah, I couldn't get over that amount for insurance!
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Old 06-11-2010, 06:41 AM
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What is the insurance covering?
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Old 06-11-2010, 12:24 PM
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What is the insurance covering?
at that price, it had better be EVERYTHING
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Old 06-11-2010, 01:35 PM
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Is the high premium due to provincial laws or is it the result of Canadian federal policies? I am thinking it must be the provincial laws, given that the UFC has made money on the shows in Montreal.

Isn't the real money in the PPV buys anyway?
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Old 06-11-2010, 02:20 PM
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Originally Posted by cubsfan47 View Post
Is the high premium due to provincial laws or is it the result of Canadian federal policies? I am thinking it must be the provincial laws, given that the UFC has made money on the shows in Montreal.

Isn't the real money in the PPV buys anyway?
It is provincial from what I understand.

The reports I read was that Vancouver had concerns of the potential of a lawsuit being filed against the city if someone were to be hurt, which is something that has never happened anywhere in North America to my knowledge in Boxing or MMA.

As for PPV, it is to my knowledge that the PPV providers take around a 50% split of the PPV revenue right off the top. So, when you think about it from that perspective and toss around some hypothetical numbers it's easy to see where they would barely make the type of money they are used to making when they have to shell out that much for insurance.
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Old 06-11-2010, 05:28 PM
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It is provincial from what I understand.

The reports I read was that Vancouver had concerns of the potential of a lawsuit being filed against the city if someone were to be hurt, which is something that has never happened anywhere in North America to my knowledge in Boxing or MMA.

As for PPV, it is to my knowledge that the PPV providers take around a 50% split of the PPV revenue right off the top. So, when you think about it from that perspective and toss around some hypothetical numbers it's easy to see where they would barely make the type of money they are used to making when they have to shell out that much for insurance.
This might be good for them in the long run. They need to know that they cant just turn up in any country on earth and host a show, without careful planning. They might also start to realize their prices are too high, and with a lower price they could fill twice as many seats. They might also put more thought into construction of their card...particularly if you were going to put it in Canada and knew that insurance...you need a far stronger card...so you can guarentee a PPV record, to cover the cost of your live audience.

A sign of too far too fast if you ask me. I cant express to you how dangerous in this current financial crisis that could be to something like the UFC
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