The demands of boxing fans are endless. They want the best to face the best. They crave stacked events featuring multiple high-profile bouts, ideally headlined by a mega showdown. And to be fair, they’re justified. After all, they’re shelling out their hard-earned money to watch something unforgettable. But in the excitement, one critical question often gets overlooked: How much does it actually cost to put on these blockbuster events?

A quick glance might suggest organizers are swimming in profits. And sure, there’s money to be made. Why else would anyone enter the business? But staging a show of this magnitude comes with a hefty price tag. On May 2, fans will watch Ryan Garcia, Devin Haney, and Teofimo Lopez step into the ring. The event, ‘Fatal Fury: City of Wolves,‘ is set to take place at the iconic Times Square in New York. Seemingly, it’s a location chosen more for spectacle and streaming appeal than in-person attendance. Early reports suggest it could be a ticketless event, which raises the question: Without ticket revenue, how will organizers like Riyadh Season recover their massive investment?

Fatal Fury Times Square: Garcia vs. Romero expected earnings: Gate and other sources

Let’s look at two critical aspects: the costs incurred and the revenue expected. To begin with, the lion’s share of any boxing event’s revenue goes toward the boxers’ payouts. The ‘Fatal Fury‘ is no exception.

Fight Purses

Ryan Garcia has reportedly claimed he will take home around $20 million for his fight against Rolando Romero. Based on his previous earnings from fights with Gervonta Davis and Isaac Cruz, the latter, on the other hand, is expected to earn somewhere between $1 million and $5 million.

Likewise, considering the purses they earned in earlier bouts, Devin Haney is likely to receive a payout of approximately $8 million. His opponent, Jose Ramirez, may earn around $2 million. With challenger Arnold Barboza Jr. anticipated to receive slightly less, around $850,000, Teofimo Lopez, defending his title, has hinted that his purse will be about $1 million.

Additionally, the debutants on the card, Levale Whittington and Reito Tsutsumi, are estimated to earn $10,000 and $50,000, respectively. So altogether, the total fighter payout for the May 2 event could be in the neighborhood of $32.91 million.

Estimated Costs

On top of the fighter purses, there are significant production and operational expenses to consider. Securing permits and managing logistics for an event in Times Square could cost approximately $1 million. Setting up the stage, ring, lighting, and sound systems, and providing adequate security and crowd control measures could add another $3 million to the bill.

Then there is the cost of broadcasting the event, which will be streamed by DAZN. Estimates suggest this could amount to $2 million. Marketing, promotions, travel, accommodation, insurance, and other miscellaneous costs could contribute an additional $4 million. These factors bring the total non-fight costs to about $10 million, pushing the combined estimated expenditure to $42.91 million.

The cost of the Garcia vs. Romero event: Will organizers lose money?

Now comes the question of how much revenue the organizers can expect to generate. Ryan Garcia’s last fight against Devin Haney reportedly pulled in around 500,000 pay-per-view buys. With the PPV price reportedly set at $80, if his comeback bout performs similarly, the event could gross around $40 million in pay-per-view revenue. However, only about half of that typically goes to the promoters, which would mean Riyadh Season might take home around $20 million from PPV sales.

Other potential sources of revenue include sponsorships and merchandise sales. Conservative estimates suggest that sponsorships might bring in about $5 million, while merchandise sales could add another $2 million. That would bring the total projected revenue to approximately $27 million.

With estimated costs at around $42.91 million and projected revenue near $27 million, unless actual returns exceed expectations, the event may operate at a deficit. Given the star power and global attention surrounding it, a stronger-than-expected performance remains a distinct possibility.

It’s worth considering whether ticket sales could have contributed to balancing the overall expenses. It’s possible. But perhaps the intent behind this event isn’t just short-term revenue. Hosting a global spectacle in Times Square with a pay-per-view-first model might be a long-term play in brand visibility, streaming dominance, and promotional power.

What’s your take? Do you think this experiment in ticketless, high-profile boxing events will pay off? Or should organizers stick to more traditional models that include in-person ticket revenue?