Dana White was serious about making UFC 306 at the Sphere in Las Vegas a grand event.
The UFC CEO mentioned that considerable money, at least $17 million, has already been spent on the production of UFC 306, also known as Noche UFC, which will take place on Sept. 14. The total expense for the event is undisclosed, but Andrew Schleimer, the CFO of TKO Group Holdings, confirmed that the costs are exceeding the initial estimates.
Schleimer is hopeful that UFC 306, featuring bantamweight champion Sean O’Malley defending his title against Merab Dvalishvili, could set new records in ticket sales and success.
Despite the high production costs, both TKO executives and White have decided that UFC 306 at the Sphere will be a one-time live show, with no immediate plans for other events at the venue.
The Sphere, a $2.3 billion arena, boasts a massive 160,000 square foot LED screen encircling the arena. It can host around 20,000 spectators and has a unique layout with the octagon positioned at one end. Limited seating close to the octagon makes the setup for UFC 306 distinguishable from other UFC events.
While the investment in the event is significant, Mark Shapiro, president and COO of TKO Group Holdings, believes that the long-term gains will outweigh the expenses. Shapiro stressed the importance of expanding the UFC brand, audience, and fan base, particularly in the Latin market.
Ticket prices for UFC 306 have soared, with seats reaching up to $12,000 each, but some tickets are still available for a little over $1,300. The final figures for the live gate will be revealed post the event.
