What is a California Professional Club and Promoter Bond?
A California professional club and promoter bond, also known as a combative sports promoter bond or MMA promoter bond, is required for any person who wishes to promote certain athletic events in California.
Who Needs a California Professional Club and Promoter Bond?
Any club that wishes to conduct, hold, or give a contest or match must first file a bond with the California State Athletic Commission in the amount determined by the commission. The exception is for amateur contests or matches.
Why Do I Need a California Professional Club and Promoter Bond?
The California professional club and promoter bond is required by the State of California to protect the state and involved parties, including competitors, from financial loss. Under the regulations of the California State Athletic Commission and the terms of the surety bond, the principal must ensure the payment of:
- All taxes and fines due to the state
- All fees deemed appropriate by the Commission
- Contributions for medical insurance
- Contributions to the pension fund
- Assessments for neurological examinations
- Purses as laid out in the competitors’ contracts
- Any necessary reimbursements for events that were canceled
- Fees for referees, judges, timekeepers, and physicians
By posting this bond, promoters are agreeing to conduct business in compliance with all of the provisions in Sections 18680 and 18684 of the Business and Professions Code. If the promoter fails to comply with those provisions and individuals suffer financial losses as a result, they can make a claim against the surety. The principal is then responsible for reimbursing the surety.
How Much Does a California Professional Club and Promoter Bond Cost?
The California State Athletic Commission requires various amounts depending on the specific details of the event. Additionally, the professional club and promoter bonds are subject to underwriting. Therefore, the cost of these surety bonds will vary greatly. Applicants should verify the required amount with the state prior to bonding.
Get Started Today!
In order to promote certain athletic events in California, you must first purchase a professional club and promoter bond. Don’t delay your application.