Tag: Nevada

WWE approved for $4.2 million in tax credits for WrestleMania 41 week

Posted on by Josh Nason

Image: WWE

The financial success of WWE WrestleMania 41 continues to increase with the reveal that WWE has been approved for $4.2 million in tax credits for holding the week in Las Vegas, Nevada.

The story was first reported by the Nevada Current on Thursday.

The transferable film tax credits were approved by the Nevada Film Office and the Governor’s Office for Economic Development for last weekend’s WrestleMania in addition to related events like Raw, SmackDown, and NXT shows.

The credits are on top of the $5 million WWE received from the Las Vegas Convention and Visitors Authority for bringing their annual mega-event to their city.

From the Currant report who noted the tax credit:

“The $4.2 million in transferable film tax credits represents roughly 12% of the $33.7 million total production budget WWE estimated for two nights of WrestleMania 41 at Allegiant Stadium in Las Vegas and three nights of wrestling events at nearby T-Mobile Arena. But $4.2 million is more than half of what the company estimated it would spend on local labor and at local businesses.

“WWE estimated it would pay $2.6 million in wages to Nevada residents and $17 million to out-of-state talent. Both amounts, as well as $5.3 million in in-state spending on things like hotels and catering, were considered qualified expenses for determining the amount of film tax credits the company is eligible to receive.”

The breakdown of the $33.7 million production budget from the public record:

  • $2.4 million for Nevada stagehands
  • $2.7 million for non-resident “below-the-line” labor
  • $17 million for non-resident “above the line” talent (wrestlers, executives, etc.)
  • $5.3 million in Nevada expenditures
  • $8.6 million in non-Nevada expenditures
  • $260,000 for Nevada security workers

While not disclosing how much revenue they brought in, WWE stated this week that it was the most financially successful in company history.

Nevada commission to no longer discipline fighters for marijuana use

Posted on by Josh Nason

In a move that could be matched by other state commissions, the Nevada State Athletic Commission voted Wednesday to no longer discipline fighters in any sport for testing positive for marijuana, effective immediately.

They join Florida as the only other state in the U.S. to stop testing for marijuana completely. The new rule doesn’t apply to cases that have yet to be decided.

Ironically, two current UFC fighters (Misha Cirkunov and Gillian Robertson) were disciplined on Wednesday with the former getting a retroactive six month suspension and $4000 fine and the latter earning a retroactive 4.5 month suspension and $2000 fine.

The NSAC will continue to test fighters through the end of 2021 for data purposes and will determine at that point whether to continue.

In January, USADA and the UFC removed discipline for marijuana use, only issuing sanctions if a fighter was visibly under the influence on an event night.

In another bit of irony, Dana White said Wednesday that Nick Diaz, who was once initially suspended for five years in 2015 by the NSAC due to testing positive for marijuana, and Robbie Lawler may fight in the co-main event of their September pay-per-view. Diaz’s suspension was eventually reduced to 18 months.

Nevada to consider indefinite ban on combat sports due to coronavirus

Posted on by Josh Nason

If the UFC thought they were going to be the exception to the sports rule during the coronavirus outbreak, they might be badly mistaken.

As their UFC Brasilia, Brazil, event was happening in front of an empty arena Saturday afternoon, news broke that the Nevada Athletic Commission will discuss the indefinite suspension of all combat sports at their upcoming March 25th meeting:

From the NAC emergency meeting agenda. Whatever they’re deciding today is heading into their regular meeting on the 25th. Let’s not assume anything beyond March 25 is off until we actually hear what they have to say. pic.twitter.com/GXZkotCm6y

— Dave Doyle (@davedoylemma) March 14, 2020

In the immediate term, that would include two UFC shows that were rescheduled to the company’s APEX facility, originally set for March 28th (Columbus, OH) and April 11 (Portland, OR). If a suspension decision is made coming out of the meeting, that would complicate things for fighters preparing for competition just three days later.

In a statement to ESPN, NAC executive director Bob Bennett said, “I’ve been in constant contact with a litany of doctors and medical professionals and am intimately familiar with most professional and amateur sports events being suspended at this point in time for an undetermined period. I will continue to collect information and speak with various medical experts and be prepared to provide the information to the chairman and commissioners on March 25.”

UFC president Dana White has come under fire since announcing that the company planned to soldier on with empty arena shows including today’s event and next Saturday’s show in London, England, which White said would “proceed as planned” with fans in attendance. That decision was made despite the majority of the sports world shutting down as it deals with the worldwide coronavirus epidemic and the UFC not clearly announcing any plan to test their athletes for the COVID-19 virus.

While UFC fighters from the U.S. arrive in London, there are major questions surrounding the updated travel ban U.S. President Donald Trump announced Saturday which now includes the United Kingdom. Additionally, the UK government is set to announce mass gathering bans which would prohibit fans from entering the O2 Arena. It’s unclear if the event would be allowed to go on with an empty arena.