For 20 years, China has required private companies to obtain government approval before being allowed to host sporting events in the country. The process also requires the payment of mandatory fees to obtain this approval.
The result has been a general reluctances for organizations to try and enter the market but it now appears China is ready to change its old ways for the first time.
BloodyElbow.com reports that during their State Council’s executive meeting held earlier this month, China has made a decision to open up the multimillion-dollar market for commercial sporting events and will no longer ask potential hosts to obtain government approval for their events. The discussion also mandated a change to broadcasting policies, which will allow broadcasting rights to be shared instead of solely being state-owned.
As far as MMA and UFC is concerned, the fees will vary depending on the event but it appears this finally opens the door for the UFC to consider hosting events in China for the first time.
Tags: Mixed Martial Arts