Emily Zemler
Updated on: October 12, 2024 9:59 pm GMT
As excitement stirs among wrestling fans for possible events in Las Vegas, Jeff Jarrett, a WWE Hall of Famer and current AEW star, cast doubt on the feasibility of wrestling shows at The Sphere, citing soaring operational costs that could deter promotions from making the leap.
A Costly Venture for Wrestling Promotions
Jarrett recently shared insights on his podcast, “My World,” regarding the operational expenditures associated with hosting events at The Sphere. He claims he has heard estimates suggesting it costs around $20 million just to run a show in the innovative venue, which debuted with UFC 306 on September 14, 2024. This hefty price tag raises questions about the viability of hosting wrestling matches there.
- UFC’s Success: UFC 306 grossed an impressive $22 million in ticket sales, fueling speculation about future events.
- Comparative Venues: Jarrett pointed out that places like Wembley Stadium and New York’s Arthur Ashe Stadium have successfully hosted wrestling but with different financial dynamics.
Jarrett emphasized that the audience and revenues required to recoup such a significant investment could be hard to achieve, especially for wrestling promotions that typically rely on ticket sales and merchandise revenue.
The Odds of Wrestling at The Sphere
Wrestling fans have been buzzing since inquiries were made about events at The Sphere. However, Jarrett is skeptical about any promotion considering running a show there soon.
“I really look at the return on investment,” he said. “You’ve got to gross a boatload of revenue just to get to sea level. To run a show in The Sphere, I don’t see it happening within the next twelve months. I just don’t.”
Despite the UFC’s ability to pull off a lucrative event, Jarrett suggests that wrestling might face tougher obstacles:
- Cost of Operations: The $20 million figure casts a long shadow over the prospect of running successful events.
- Revenue Challenges: Wrestling events may struggle to bring in the large crowds necessary to cover costs.
Conrad Thompson, Jarrett’s podcast co-host, echoed his concerns. “A lot of revenue has got to be generated for that to make sense,” he stated.
Why Venue Costs Matter
The issues surrounding venue costs are not just confined to the realm of wrestling or The Sphere. In today’s entertainment climate, securing high-profile venues requires strategic planning and substantial financial backing.
- High Expectations: Fans expect an array of amenities, spectacular production values, and star-studded lineups.
- Market Viability: Understanding the audience’s willingness to pay for tickets tied to their favorite promotions is crucial.
Jarrett’s comments highlight the harsh realities that promoters currently face when considering high-profile venues. “When you understand what it takes to make your money back on these live events, it becomes clear just how difficult it is,” he added.
Caption: AEW continues to explore options for future events, but high venue costs remain a major consideration.
Could Las Vegas Host Wrestling Events in the Future?
While Jarrett remains doubtful about immediate opportunities for wrestling at The Sphere, the landscape of sports and entertainment can be unpredictable. The following factors could influence future considerations:
- Revenue Models: Promotions may need to adopt innovative revenue models to sustain the costs.
- Partnerships: Collaborations between different promotions or sponsorships could ease financial burdens.
- Fan Engagement: Engaging fans through merchandising and additional revenue streams can create a solid financial base.
Fans continue to yearn for major wrestling events in Las Vegas, a city known for its entertainment and unique venues. The buzz surrounding potential shows is palpable, yet the stark realities of the business sector may keep wrestlers out of The Sphere for now.
Conclusion: A Wait-and-See Approach
As wrestling promotions navigate an evolving entertainment landscape, Jeff Jarrett’s insights remind fans that significant financial challenges lie ahead. While the allure of iconic venues like The Sphere is undeniable, the reality of high operational costs presents a formidable barrier. Until wrestling promotions can devise a more sustainable financial model, the ambitions of bringing wrestling to unique locations may remain just a fantasy.
Right now, fans just have to stay hopeful and wait for better chances to come along. One day, they might see their favorite sport on big stages!
