VICTORIA is missing out on up $50 million in tourism dollars because of a ban on one of the fastest growing sports in the world.

Ultimate Fighting Championship chiefs want to bring the sport to Melbourne and have booked Etihad Stadium for a blockbuster event this year to be beamed around the world.

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But the move has been blocked by the Napthine Government, which refuses to budge on a statewide ban on special enclosures for the sport designed to protect athletes and spectators used in NSW and Queensland.

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UFC director Tom Wright said he had held talks with government officials about the economic windfall Victoria stood to earn, but was left frustrated by their response and was now on the cusp of taking the offer interstate or overseas.

"If the state of Victoria doesn't make a decision in the next four to eight weeks we will have to move on,'' he said.

"It's a global sport, we could be taking it to 50 other cities around the world so if we can't go to Melbourne we will just have to say sorry and take it to one of the other places lining up.''

News_Image_File: A bloodied Anthony Perosh during his loss to American Ryan Bader at an UFC event in Brisbane last month. Picture: Adam Head

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News_Image_File: Californian champ Ronda Rousey, left, battles Miesha Tate of Washington during the UFC 168 mixed martial arts women's bantamweight title fight in Las Vegas. Rousey won by a third round tap out.

News_Image_File: UFC star Georges St Pierre, who has announced he is taking a break in his career, has a huge following around the world.

UFC is screened in 145 countries in 30 languages, attracting about 800 million viewers to events in the US, Asia, UK, Canada, South America, Sydney, Brisbane and the Gold Coast.

Economic impact statements on the event have been presented to Major Events Minister Louise Asher and Sports Minister Hugh Delahunty.

Mr Wright said the projected benefit to Melbourne was $40 million to $50 million for one event.

The sport was also likely to invest in local gyms and a program to tackle obesity.

A spokeswoman for Mr Delahunty, Dianne Bysouth, said the Victorian Labor government banned "cage fighting'' and contests in enclosed rings such as the "octagon'' used by UFC in 2008.

"This is the position that is maintained by the current Victorian Coalition Government,'' she said. But Mr Wright accused the Government of being "shortsighted and somewhat antiquated'' about the sport.

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Etihad boss Paul Sargent confirmed dates had been blacked out for a UFC blockbuster in spring, and he predicted a sellout crowd with 40 per cent of spectators from outside Victoria.

Opposition sports spokesman John Eren pledged that Labor would overturn the ban if elected at the November state election.

The Herald Sun attended an Australian Fighting Championship event in Flemington last month and saw several competitors thrown out of the boxing ring, including one who landed on the judge's table.

peter.rolfe@news.com.au