In terms of revenue, the market size of the boxing promoters’ industry in 2022 slightly surpasses the $438 million mark. The astonishing number shows how profitable working as a licensed boxing promoter can be for those willing to work hard.
What are the requirements to obtain a boxing promoter license in Florida? Read on to find out.
Florida Boxing Promoter License – The Basics
Rule 61K1-3.002 (1)(a) of the Florida Administrative Code provides that “no person shall act as a promoter for any match held in Florida or telecast in or into Florida via closed circuit without first having obtained a promoter license.”
The same rule adds that “no person shall act as a matchmaker, including a matchmaker employed by a promoter, for any match held in Florida without first having obtained a matchmaker license.”
All boxing, MMA, and kickboxing events held within state jurisdiction must be approved by the Florida State Boxing Commission. State law has strict laws to guarantee full legal compliance in all matches of fighting sports.
The Administrative Code also specifies that “any person licensed as an individual shall have sole ownership of such license, and such license shall not be transferable or assignable to another. If such person is no longer in business, the license shall become void.”
Similarly, “any license issued to and in the name of a corporation shall not be transferable or assignable to another.”
The regulations restrict licensed promoters from performing as “a booking agent, representative of a booking agent, matchmaker, manager, second or trainer.”
If the promoter wants to obtain a boxing manager license, the Administrative Code requires the licenses must not be “held in different sports and participants under contract to the manager are not also being promoted by the same licensee within the same sport.”
How Do I Obtain a Florida Boxing Promoter License? – As Provided by Law
Applicants can file online to apply for a boxing promoter license using the official website of the Department of Business and Professional Regulation (DBPR). The first eligibility requirement is that applicants must be at least 18 years old.
It is possible to apply either as an individual or as a business. For legal entities applying for a boxing promoter license, the first step is to guarantee the company is properly registered with the Florida Department of State.
Individuals applying on their own must submit only a promoter application, while those filing on behalf of a business must also submit an application for each officer of the business. The application fee is $250. Fortunately, there is no fee applied to officer applications.
As specified by the Florida Administrative Code, “an applicant for a promoter license shall deposit with the commission a surety bond, cash, or certified check in the amount of $15,000 prior to being issued a promoter license. If, at any time and for whatever reason, the security is not maintained in full force and effect, the license shall be automatically void.”
If a boxing match has a projected liability exceeding $15,000, “the commission shall require the deposit of an additional bond, cash, or certified check as additional security for the match. ”