OT: New York Jets PSLs

[AStack75]

http://www.nytimes.com/2008/08/27/sports/football/27jets.html?ref=football

EAST RUTHERFORD — The Jets announced a plan Tuesday in which all 27,000 seats in the upper bowl of the new stadium the team is building with Giants will be exempt from paying personal seat licenses.

The Giants are selling upper-deck seat licenses for $1,000 to $5,000 each with prices elsewhere in the stadium ranging up to $20,000 for the elite Coaches Club seats behind their bench.

The Jets’ seat licenses will cost $5,000 to $25,000 each on five classes of 7,500 seats, mostly in the mezzanine, and $4,000 to $20,000 on another five classes of 37,500 seats that are largely in the lower bowl.

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[TrueBeliever]

I have never understood the logic of PSLs. Basically they're charging you for the right to buy something.

Actually, maybe what I should say is I have never understood the logic of why people are willing to pay for them...

 

[DaBruinz]

I have never understood the logic of PSLs. Basically they're charging you for the right to buy something.

Actually, maybe what I should say is I have never understood the logic of why people are willing to pay for them...

People are willing to pay for a PSL for a variety of reasons. One is that a PSL can be transferred as part of a will should you happen to pass on, whereas there is a harder time passing on regular season tickets.

 

[TheFlyingWedge]

Anyone interested in buying a bridge? http://www.richard-seaman.com/USA/Cities/NewYork/BrooklynBridge/ForSale.html

 

[blackglass3]

I can't believe I am about to type this.

This is a very cool thing the Jets are doing. This will keep REAL Jet fans in the Meadowlands for Jets games, not just people who got thier tickets as a perk for dealing with whatever company owns the PSL. I hope more teams do this...sporting events are just too expensive for regular people.

 

[fgssand]

I have never understood the logic of PSLs. Basically they're charging you for the right to buy something.

Actually, maybe what I should say is I have never understood the logic of why people are willing to pay for them...

The logic is really simple - if you care to see the Jets play and own season tickets to their games, then you purchase your PSL. No one is forcing anyone to buy anything, if indeed owning season tickets are not high on your must have list. Logic usually does not apply to emotional purchases such as luxury boats, cars and other such "toys" like Season tickets to a sports team.Now, for a bit more detail, read on.....

In New England Kraft chose to not take that route, some here wish that he had as it is a commodity that you can sell down the road and it may increase in value.

With a PSL , you can easily pass along your seats to anyone, whereas with Kraft you have to pay $5,000 per seat to "pass them on" to immediate family members only.

The "pass it on" charge should ensure eventual turnover whereas with PSL's - you could wait forever on the waiting list or pay a lot.

Personally, I will pony up the $5,000 per seat x 6 for my seats as opposed to what would have been as much as $150,000-$250,000 for my lower bowl seats. I hope I can make more by the investing what would have been the PSL sum and at least take some of the sting out of the "pass it on" fee.

I really don't have a problem with any of it as the joy my season tickets have brought to my family has made it worth every penny - my Dad passed them down to me and I intend to pass them down to my sons and so forth and so on. Every Sunday we gather, as a family and follow our favorite football team through the good times and the bad.

The games have often served as a backdrop to keeping the family close and dealing with the many family/world issue/growing up issues facing us. There were always the Sundays when we put everything aside and just let Pro football & the Patriots take over.

How do you put a price tag on that??

 

[bbabin]

If a Patriots STH does not pay the "pass it on" fee and dies, what happens? Does the team notice that the person has died and take the seats away? Would it be possible to simply pass on the login, payment information, etc. on?

I'm just curious, because that seems too simple of a loophole.

 

[PatsDeb]

If a Patriots STH does not pay the "pass it on" fee and dies, what happens? Does the team notice that the person has died and take the seats away? Would it be possible to simply pass on the login, payment information, etc. on?

I'm just curious, because that seems too simple of a loophole.

You can do it as long as the living can still receive mail at the address of the dead. If you try to change the mailing address on season tickets, you have to go to Gillette & show ID to do so. That is where they catch people.

 

[Deus Irae]

A PSL is just another way to suck money out of foolish customer bases, the same as the 'pass it on' charge. There are always people around who are gullible enough to fall for any line you give them.

 

[DaBruinz]

A PSL is just another way to suck money out of foolish customer bases, the same as the 'pass it on' charge. There are always people around who are gullible enough to fall for any line you give them.

So, in 5 years, the Jets are good and someone who paid $5K per ticket for 4 tickets can sell them for $20K per ticket, its just another way to suck money out of the "foolish customer base?"

 

[Deus Irae]

So, in 5 years, the Jets are good and someone who paid $5K per ticket for 4 tickets can sell them for $20K per ticket, its just another way to suck money out of the "foolish customer base?"

In five years or in 5 centuries. There should never have been a need to get the 'ok' from the club to sell them in the first place.

 

[DaBruinz]

In five years or in 5 centuries. There should never have been a need to get the 'ok' from the club to sell them in the first place.

To an extent, I agree. However, all the season ticket guarantees you is the right to be there for every game. The PSL is similar to actually buying stock in the team.

Now, I also agree with the team. As I said, all the season ticket does is guarantee you the right to go to the games. You can have that right revoked at any time because the team is a private business. And since the team is a private business, is has the right to say what happens to the tickets since basically the ticket is just a EULA.

 

[patchick]

So, in 5 years, the Jets are good and someone who paid $5K per ticket for 4 tickets can sell them for $20K per ticket, its just another way to suck money out of the "foolish customer base?"

The problem is that the "investment" argument only holds weight if you're buying the tickets as an investment, not because you love watching football. For a devoted fan, there's no liquidity at all. By your own example, the only way to make PSLs worthwhile is to give up your long-held tickets just as your team is finally reaching the heights you've always dreamed of. In fact, for the true-blue fan who never gives up his cherished seats and passes them on to his kids, the PSL money is 100% pure expense.

 

[fgssand]

A PSL is just another way to suck money out of foolish customer bases, the same as the 'pass it on' charge. There are always people around who are gullible enough to fall for any line you give them.

I think it is foolish of you to tell me it is foolish to spend my disposable income on a PSL or "Pass it on Program".

It's a choice I make to enable me to see the games.......nobody is forcing me to do this. If you want season tickets, you must pay the piper.

Surely there must be some luxury type items that you spend your money on, that some may view as a foolish expenditure, except to you that is....

I think I expressed my views in my post above......how can you say that is foolish??

 

[Deus Irae]

I think it is foolish of you to tell me it is foolish to spend my disposable income on a PSL or "Pass it on Program".

It's a choice I make to enable me to see the games.......nobody is forcing me to do this. If you want season tickets, you must pay the piper.

Surely there must be some luxury type items that you spend your money on, that some may view as a foolish expenditure, except to you that is....

I think I expressed my views in my post above......how can you say that is foolish??

You aren't paying for season tickets when you pay for a PSL or for the 'right' to fork out more cash to transfer tickets.

 

[fgssand]

You aren't paying for season tickets when you pay for a PSL or for the 'right' to fork out more cash to transfer tickets.

Sure you are, if you don't buy your PSL in many cities, you dont get season tickets or if I dont pay for the "right" to pass 'em on - I wont be.

Sort of like an expensive cover charge. If you want to drink ands be entertained in a particular bar where the drinks sure are not free, then you pay the cover.

 

[TrueBeliever]

Interesting discussion all around.

But I stand by my first post. Where else do you have to pay for the right to buy something and do what you like with it? I understand the argument that it allows you to pass it on to your children, etc., but understanding something and agreeing with it are two different things.

 

[fgssand]

Interesting discussion all around.

But I stand by my first post. Where else do you have to pay for the right to buy something and do what you like with it? I understand the argument that it allows you to pass it on to your children, etc., but understanding something and agreeing with it are two different things.

Try membership fees at a golf course - pay to join and then pay as you go.

Try membership fees in private clubs, booster clubs,

Try dues for all kinds of activities.

Try athletic fees allowing you to play school sports at all levels.

There are countless other examples that could be cited, regardless of the revenue stream or lack thereof in the group or organization to which you choose to belong.

In all of these cases, you are paying for the right or ability to pay more for the activities you choose to join or partake in and inmost cases significant charges to follow.

 

[MoLewisrocks]

The problem is that the "investment" argument only holds weight if you're buying the tickets as an investment, not because you love watching football. For a devoted fan, there's no liquidity at all. By your own example, the only way to make PSLs worthwhile is to give up your long-held tickets just as your team is finally reaching the heights you've always dreamed of. In fact, for the true-blue fan who never gives up his cherished seats and passes them on to his kids, the PSL money is 100% pure expense.

So for JETS fans the money is 110% sunk cost on a waste of time investment in a 40 year old pipedream...

 

[patchick]

Try membership fees at a golf course - pay to join and then pay as you go.

Try membership fees in private clubs, booster clubs,

Try dues for all kinds of activities.

Try athletic fees allowing you to play school sports at all levels.

There are countless other examples that could be cited, regardless of the revenue stream or lack thereof in the group or organization to which you choose to belong.

In all of these cases, you are paying for the right or ability to pay more for the activities you choose to join or partake in and inmost cases significant charges to follow.

This is an excellent point. There's a standard model of membership/entry fee + per-item/activity fees for many kinds of institutions. PSLs do function differently, though, both in that they're transferable and that 100% participation is required in the fee-based activities. A more classic membership model is the season ticket waiting list, which grants you the right to buy tickets on Ticket Exchange.