^^ I would doubt it, too many discussions with the wife would occur. They want you to make a snap decision and have your CC ready. They probably want to get through the list asap so they can start a viral marketing campaign to get anyone with the cash to buy the PSL's. They know how current STH are responding.
Thanks Ellsworth. So basically if you're a recent STH you basically have no chance since the guys with seniority from 1970 have such better odds.
Did you get stuck with seats you didn't want or something? Don't blame others for misjudging your choice
Have the Jets sold out all their PSL's yet (Giants too) and whatever happened with that 'phony' $400K bid that got so much attention last year ?
I read your story....I know it's alot of $$$ to be out, but did you think the NY Jets Football Club and Woody were going to run off with your money ? I know you wanted something in writing, but I think it was coming. As for the per-year ticket prices, no football team that has EVER sold PSL's has had the ticket prices remain the same year-after-year. Again, I don't know what you were looking for. Sorry it didn't work out for you.
he was looking for something similar to what they did in carolina. it is written in the contract that the tickets cannot go up more than 4% per year. he couldnt get ANY contract out of them. anyone who would make a business deal for thousands of dollars and not have a contract is a very foolish move and leaves you in a very vulnerable position. that and he had buyers remorse and realized that putting that kind of money into jets tickets was a waste. especially if he could get them for free.
I still don't understand how Jerry's Palace cost $1.2 BB and he got a roof and for $1.8 BB the Jets/Giants don't get one. WTF did they get for the extra $600 MM ? I guess 'featherbedding' still exists......lol
I'd be more worried that the supposed 'investment value' of the PSL itself could be worth very little (just like lots of tickets on StubHub) as the economy remains soft. Funny....HBO's "Real Sports" did that piece on how StubHub and other online auctions were uncovering the 'real value' of tickets for baseball and football which resulted in the PSL's and Yankee Legends Seats explosion. Then the global economy tanked. Guess it was a perfect 'bell ringing at the top' episode by HBO !! My way of thinking, you almost have to amortize the cost of the PSL over their lifetime and assume they are worthless (or substantially discounted).....I also think that Roger Goodell could be hearing from the SEC for saying that they are a 'good investment'.....Goodell and the NFL are NOT licensed to sell securities, particularly since they haven't issued a prospectus or disclosed the risks (which are HUGE with PSL's since it's only a license). The NFL has CLEARLY marketed PSL's as an investment because a few isolated (and early) PSL buyers were able to sell them at a premium when supply was low and demand high. That is NOT the case today. I guarantee you that some enterprising lawyer from a PSL holder will be suing the NFL and Goodell within the near future when they try and sell their PSL and find out that the 'investment' has only a fraction of the original cost. Of course, if the global and U.S. economies rebound bigtime, demand for sports tix goes up, then maybe the PSL bubble will reflate. Or maybe not. I went on Mike Francesca's show the other day (I was a cable/media analyst a while back) and noted that the percentage of TV+TICKET sale revenues that was TV ONLY in the 1960's was about 25%....in the 1970's it was 50-75%....they hit parity in the early 1980's....and today, it's 150-200%. In other words, the blackout policy should be eliminated because the fear of a small revenue stream (TV) canibalizing your larger revenue stream (ticket sales) is (1) not happening and (2) irrelevant, since the smaller stream is now 2X as large as the ticket sales. With people spending thousands of dollars on big-screen HDTV's, the option to stay home today is alot more appealing then 30 years ago when all most people had was a 19" color TV...or even 10-15 years ago when a 33" TV still didn't have crystal-clear sharpness. In the 1980's you could spend $500 on a big color TV or maybe $1,000 on a quartet of season tickets. Today, you can spend $2,000-$,3000 on a flat-panel HDTV or spend double or triple or quadruple or even 10X that amount on PSL's and tickets for premium seats. The value proposition has changed bigtime. The bubble in Cable/Network fees paid to the NFL is the one remaining bubble and still the best advertising bang for the buck but I wouldn't be too greedy if I was the NFL. With the internet canibalizing more and more ads...with traditional advertisers (department stores, car dealers) disappearing every day...eventually, it will filter down to the commercials on NBC and ESPN. When that happens I don't know...but I guarantee you it will happen.
the nfl balloon will surely burst. they are just not looking far enough ahead to realize it. and i agree with all of your points. i think and i can only say i think because he would have to answer for himself but i am pretty sure the fact that the psl was a losing investment was something you could understand and account for.... i dont think most people were looking at them as an investment and even less an investment that would pay off.. ticket prices can however be raised at any time by any amount and if you arent cool with it you lose your psl money. woody could come in for 2011 and say you know i need to double the price for your tickets.... sure that extremely unlikely but if you listen to 227 the mezz seats have doubled in 8 years. they have gone up 10% every year since woody took over. that is something that is totally out of your control and you cannot plan for. its a real sham and poor management of the entire psl process if you ask me.
The bottom line is very few people want to goto all the games and fewer still want the RIGHT to control that access (the PSL). If alot of people are buying PSL's on the expectations that they will recoup part/all of the $$$ via select ticket sales over the year (i.e., what Met fans like me thought this year), they will likely be very disappointed. Now, if Mark Sanchez turns out to be Joe Willie II and/or the Jets begin a string of deep-playoff and SB appearances, then its possible the PSL's in this area with 20,000,000 people within a radius of 50 miles of the stadium could hold their value. That will NOT be the case for many stadiums.....3 blackouts already this year.....Jacksonville can't sell out 70K seats while the college team sells 100K in the same stadium....what happens to Patriot PSL's in a few years if Boston economy tanks (big financial services, colleges, and legal) and Belichick and Brady aren't there in 2015? Like I said, amortize the cost of the PSL over the 15 or 30 years or however long it is. And expect to see PLENTY of Jet tickets for sale on StubHub.
thats the beauty of this thread. so many people have been able to come on here and really have an idea of what they are getting themselves into. they have a HUGE advantage over most fans who are working only on what the jets are telling them. i would hate to see people lose out big time on these psls. but it will happen to some no matter what. unluckily for us the patsies dont have psls. they have very high ticket prices which i am sure would be affected but they dont have psls. imagine if it went back to the days when they had all those empty bleachers out there in foxboro..... that day is coming.
Understand again: I'm not a forecaster of what a PSL will be worth next month, year, or decade. I'm simply saying: assume the worst, hope for the best. I do wonder though what State Consumer Protection Agencies, AG's, and the SEC will say if large numbers of people find out that their PSL investments are worth alot less. Not so much the folks shelling out $1,000 per PSL but the more expensive ones. I would myself be curious to know who are the people who are buying either a bunch of the $5,000 PSL's or one or several of the $20,000 (or more expensive) ones. I know for myself I earn about $125,00 on average and if not for being single could not even consider buying a PSL (assuming I wanted to) or more likely, buy individual tickets on StubHub. Friend of mine is a long-time Giant season ticket holder and he and his group are each ponying up $5,000 for their PSL's...but everybody buys their own seat and then buys the tix with it. Not like 1 guy is buying 4 for his buddies. With financial services, housing, and legal all in the dumps in this area, sure would like to know outside of family business owners, who can buy multiple $5K or $20K PSL's in this environment and then pay the 300-500% ticket increase on each ticket per PSL per game. It's a HUGE increase from having those same tickets at Giants Stadium. Frankly, I'm surprised the Jets and Giants (and even Cowboys) sold as many PSL's as they did.
We have only had our seats for a few years, so we are at the back of the line...we have figured all along we would not be getting upper deck, and have been planning on the 4-5s, 8 seats total...anyone that has gone the PSL route, did you accept their financing, or pay cash? When we get called in the next week or two, we are going to ask how much the 4k or 5ks would be if we paid in full on the spot....we think they would cut a deal?
Try these words for the joint stadium "NY-NJ Unions. Try this for Jerry's World as they call it here "Built by non union mostly illegal immigrant labor" & you have the answer to your question. OH BTW I heard U on the MF show on Friday
