Manchester United have been told they could lose out on up to £40million after Old Trafford missed out on the Anthony Joshua versus Tyson Fury fight. The British heavyweight rivals will fight at Cardiff's Principality Stadium on December 11.
The pair were anticipated to meet at Madison Square Garden in New York on November 20. However, Joshua's agreement contains a provision requiring the bout to be held in the UK, and he has insisted this be upheld.
Why Cardiff was chosen
Cardiff's Principality Stadium was picked as the strongest contender over United's Old Trafford, Wembley Stadium and the Tottenham Hotspur Stadium. The 80,000-capacity venue benefits from having a retractable roof.
Sports finance expert Professor Rob Wilson has counted up the cost of missing out on the fight while speaking to Betano Online Casino.
Economic impact beyond the fight
He said: "Missing out on hosting Anthony Joshua vs Tyson Fury goes beyond the basic question of the stadium hire fee. This is a fight that adds several layers of value. Yes, there’s the venue rental but you’re also talking about hospitality, food and beverage, sponsorship activations and other activities that an event like this opens up."
"Then there’s the much more significant economic impact on activity outside the stadium, particularly for a major event that brings in international visitors and new money to an area. Wembley Stadium gives us the most interesting comparison simply because we know it can take 85,000-90,000 people for a boxing match compared to what Cardiff can host, which is a smaller capacity of 60,000."
"Tottenham Hotspur Stadium and Old Trafford are roughly comparable with Cardiff’s Principality Stadium, certainly in terms of conventional capacity terms, whether or not the event would be staged in the same way at each venue. We can quite reasonably assume that Old Trafford, Tottenham Hotspur and Wembley Stadium have missed out on figures approaching £10 million, and then you’ve got the added economic activity that will take place on event day within the host city."
Cardiff's expected boost
"I’ve seen claims that WWE’s Clash At The Castle event in Cardiff added around £22 million to the Welsh economy, with about 62,000 spectators drawn to the event. While I’m not sure about that exact estimation it works as a rough benchmark. Of course, Joshua vs Fury will be a far bigger event, and you’ll obviously have more spectators wanting to be in Cardiff than will be able to get into the stadium, and there will be a massive increase in hotel demand, especially because of the time of the fight."
"A high proportion of those attending, or even visiting the city for the fight, will need accommodation, and that will bring a lot of new money to Cardiff from international visitors."
"There will also be visitors from within the UK, which may bring money to Cardiff, but really that’s just recirculating economic activity within the country."
"Joshua vs Fury will probably bring in upwards of £25-30 million in terms of added economic activity around the fight to Cardiff, and you might argue that’s money that London and Manchester have missed out on."
