New Meadowlands Stadium offering PSLs

[Gainzo]

I'll be the first to admit that I freaked out in February when I received my season ticket invoice and saw the price increase. I was way off base.

I'm ready to admit I was wrong in blaming Kraft after seeing what the Giants are going to do when their new Stadium opens in 2010. I would expect the Jets PSL's will be similar.

If the Meadowlands was Gillette I would be forking over $30K in PSL costs, not to mention $4200 a year in season ticket costs.

I'm still not a big fan of Patriot Place but I understand why the Krafts are building the thing.

 

[fgssand]

Re: PSLs

I'll be the first to admit that I freaked out in February when I received my season ticket invoice and saw the price increase. I was way off base.

I'm ready to admit I was wrong in blaming Kraft after seeing what the Giants are going to do when their new Stadium opens in 2010. I would expect the Jets PSL's will be similar.

If the Meadowlands was Gillette I would be forking over $30K in PSL costs, not to mention $4200 a year in season ticket costs.

I'm still not a big fan of Patriot Place but I understand why the Krafts are building the thing.

$20,000 x SIX for me = $120,000

Man of man, I realize you can get the money back when / if you sell them - but still, that there is a lot of money for anybody that is a working stiff.

 

[blackglass3]

I still don't get it. What does buying a PSL actually do for you? And do you have to buy the PSL every year, or just the first time?

Color me confused.

 

[Gainzo]

Re: PSLs

$20,000 x SIX for me = $120,000

Man of man, I realize you can get the money back when / if you sell them - but still, that there is a lot of money for anybody that is a working stiff.

The thing that is beyond ridiculous is that they are charging $700 per ticket to sit behind the home teams bench but it's "only" $160 to sit behind the visiting teams bench.

 

[ScottieC]

I still don't get it. What does buying a PSL actually do for you? And do you have to buy the PSL every year, or just the first time?

Color me confused.

PSL, First year only and when you sell the team/ownership pays you back the PSL when you decide not to renew your tickets.

I'm sure there are other strings like, 80% back after a year, 90% after 4 years, etc etc.

But that's the basic principle.

 

[Gainzo]

PSL, First year only and when you sell the team/ownership pays you back the PSL when you decide not to renew your tickets.

I'm sure there are other strings like, 80% back after a year, 90% after 4 years, etc etc.

But that's the basic principle.

You can actually sell the PSL to anyone at any price. But.......you must also purchase season tickets or the team will revoke your PSL.

Every team is different and contracts are signed. Its "fishy" to say the least.

 

[PatsFanSince74]

Does anyone know how long the idea of PSL's has been around? I know the Cowboys did it for their new stadium, but did any team do it before then?

 

[Gainzo]

Does anyone know how long the idea of PSL's has been around? I know the Cowboys did it for their new stadium, but did any team do it before then?

I believe the Carolina Panthers were the 1st team to introduce PSL's. It kind of made sense for them at the time as they were an expansion team that had to build a brand new Stadium.

I don't know how much money the State kicked in for the Panthers Stadium.

 

[fgssand]

Re: PSLs

The thing that is beyond ridiculous is that they are charging $700 per ticket to sit behind the home teams bench but it's "only" $160 to sit behind the visiting teams bench.

Gotta be other perks there in that Coach's Club....$700 per is outrageous and even the $160 tops my $150 at Gillette.

Of course I do have to pay (IF they approve me) $5,000 per seat for the option of passing my seats along to my sons, and I wont get that back (not that I care or are in any hurry for them to cash in if you know what mean).

By the way for another poster asking about PSL -nobody mentioned it stands for Personal Seat License

 

[Gainzo]

Re: PSLs

Gotta be other perks there in that Coach's Club....$700 per is outrageous and even the $160 tops my $150 at Gillette.

Of course I do have to pay (IF they approve me) $5,000 per seat for the option of passing my seats along to my sons, and I wont get that back (not that I care or are in any hurry for them to cash in if you know what mean).

By the way for another poster asking about PSL -nobody mentioned it stands for Personal Seat License

Do you remember the PSL speculation before Gillette was built? Back then PSL's were kind of new phenomenon but we really lucked out when the Krafts didn't implement them.

The 5K transfer fee per ticket is a joke, but when I'm on my death bed I will simply change my address to my sons place and the Pats will be none the wiser!

 

[fgssand]

Re: PSLs

Do you remember the PSL speculation before Gillette was built? Back then PSL's were kind of new phenomenon but we really lucked out when the Krafts didn't implement them.

The 5K transfer fee per ticket is a joke, but when I'm on my death bed I will simply change my address to my sons place and the Pats will be none the wiser!

Of course they might question it in 40 or 50 years from now when you would be 105 or something..... My kids are simply going to take over and live in my house and prop me up like Bernie from old Weekend at Bernies.

Of course I remember the speculation for Gillette PSL's and I was against them....funny thing is, as others have pointed out, I wish we had them because I am sure they would have escalated in value and the $5,000 BS would not even be in play.

 

[Gainzo]

Re: PSLs

Of course I remember the speculation for Gillette PSL's and I was against them....funny thing is, as others have pointed out, I wish we had them because I am sure they would have escalated in value and the $5,000 BS would not even be in play.

Isn't looking back great?! I do agree with you but if you remember at the time people were ticked off that ticket prices were going to double.

My seats in Section 111 went from $49 to $99 when Gillette opened. I had no problem paying those prices for a brand new Stadium.

If you look back at the history of PSL's there have been winners and losers. Some teams PSL's increase in value, others decline.

A savings bond is a better investment than a PSL.

 

[AStack75]

I'm still not a big fan of Patriot Place but I understand why the Krafts are building the thing.

Doesn't the new Meadowlands have a shopping mall/entertainment complex thing also? Xanadu or something like that.

 

[signbabybrady]

I'll be the first to admit that I freaked out in February when I received my season ticket invoice and saw the price increase. I was way off base.

I'm ready to admit I was wrong in blaming Kraft after seeing what the Giants are going to do when their new Stadium opens in 2010. I would expect the Jets PSL's will be similar.

Thats cool to see someone admit to being wrong on that. I thought people really freaked over that and I just know what the Krafts could be trying to get away with and are not.

 

[Tunescribe]

I still don't get it. What does buying a PSL actually do for you? And do you have to buy the PSL every year, or just the first time?

Color me confused.

Believe me, PSLs are a GOOD deal. They are like money in the bank and appreciate in value over time. You can sell them at a profit whenever you want and they help keep ticket prices from going up 30 percent every three years. Plus, you can do whatever you want with your tickets, including selling them at a profit as well. I wish we had them at Gillette.

 

[AStack75]

Believe me, PSLs are a GOOD deal. They are like money in the bank and appreciate in value over time. You can sell them at a profit whenever you want and they help keep ticket prices from going up 30 percent every three years. Plus, you can do whatever you want with your tickets, including selling them at a profit as well. I wish we had them at Gillette.

Can you actually lose money on them or will the teams always buy them back at a minimum for the amount you paid for them? Example...say the Pats win SB43 and then start PSLs next year. I buy one for $10,000. Then the team starts sucking, 1-15 seasons, empty seats, etc. It'd probably be tough to sell a PSL at a profit in that scenario. Would the Patriots still buy it back for $10,000? I'm guessing these policies vary slightly from team to team. That's a s--tload of money to risk if there is a potential for a loss.

I think one thing that people don't factor into the PSLs is the loss of interest they would be earning on their PSL money each year. So a fan who pays say $5,000 for 4 PSLs would be losing $700 in interest each year if that money was sitting in an online savings account earning 3.5% apy. When you factor that into it, even at the reduced ticket prices, I think you might still be better off without PSLs.

 

[Rob0729]

Wow! The Meadowlands is going to have a horrible home field advantage now. Gilette is really quite in large part because of the club seats, but they are at least in the 20-0 section. $20k a seat PSL for the 100 section inside the 30s? $10 -12k for most of the other sections on the sidelines in the lower and mid sections? Only affordable PSLs in the Terrace (300s section).

Only corporate suits are going to be able to afford PSLs close to the field. The average Jets fan isn't going to be able to afford the cost of a BMW 3 series for two seat PSLs in the 100 section even if the teams offer financing.

As much as I love the Patriots, I wouldn't pay $7500 per seat (the cost of PSLs in the comprihible Meadowlands section as mine at Gillette) for the rights to own my season ticket. I own two seats myself and I wouldn't pay the price of an economy car for the rights to own them.

 

[Rob0729]

Believe me, PSLs are a GOOD deal. They are like money in the bank and appreciate in value over time. You can sell them at a profit whenever you want and they help keep ticket prices from going up 30 percent every three years. Plus, you can do whatever you want with your tickets, including selling them at a profit as well. I wish we had them at Gillette.

I don't know. The prices for these PSLs are so high right now that I don't know if they will grow all that much over time. If you start at $20k for a PSL, how much can it grow before even the corporate suits don't find it cost effective for paying for it?

Also, PSLs doesn't stop price increases. Each the Jets and Giants shelled out $800 million a piece to build the stadium. PSLs helped to defer that cost and that cost alone. PSLs will not help with increased salary caps and players salaries, future upkeep of the stadium, and general administrative costs. Those are the reason why ticket prices increase in the NFL. The Patriots had a big bump this year and it had nothing to do with Kraft having to pay off the loan that he took out to build the stadium.

 

[JoePats]

Phil Mushnick in the Post made a great point about this a few weeks ago, not sure how it was exactly phrased, but the basic point was...

1) Building a new stadium is not a right, but rather a privelege.
2) The teams are admitting they can't afford to build the stadium by resorting to PSLs, legalized extortion.
3) When the rest of us can't afford something, we don't buy it, but when these teams (and it's not just these two, Dallas has PSLs that dwarf these prices) cant afford a stadium they basically scam their fans.

 

[AzPatsFan]

As far as I know ALLl new stadiums in the last 20 years have had PSLs. Except for Gillette.

Don't forget that Kraft was a long time long enduring Seaon ticket holder in the bleacher seats. He is a Fan first.

Who has made a lot of money doing so-called uneconomic things with the Team he purchased and saved for New England. Things that turned into Gold with the Midas touch.

Too bad there are many who are cynics and quick to ***** and criticize.