Athletic Participants Exclusion and General Liability Coverage

Our insured owns a hotel and wants to rent out the ballroom for a boxing match. I asked the promoter to take out general liability insurance and add the insured as an additional insured. This was done, but the promoter also has an exclusion for athletic or sports participants endorsed onto the policy.

Suppose a boxer is injured at the event and then complains that his injuries would have been mitigated had an ambulance been on standby at the insured's premises at the time of the injury. Now, my insured did not sponsor the event, he only provided the premises and charged a rental fee. Since the exclusion refers to “any sports or athletic contest or exhibition that you sponsor”, am I correct that “you” refers to the named insured and not to my insured who is only an additional insured?