According to the Giants plan, my current seats would either cost me $20,000 or $10,000 to keep. F that. There is no way in high hell I could ever afford to pay $240,000 to keep my family seats together. I can't imagine many of the people we've been sitting around would either. So, the new "great stadium experience" to me means that I get to watch the games from the upper deck corner instead of the lower deck midfield, and pay more to do so. This blows.
Yes...you are correct. This site has all the info you need about the PSL's, how they work, what the rules are, what the prices are, where the zones are, and even what your views from the seats are. And wait until you see the pics of the Coach's Club lounge, equipped with Dark wood, leather couches, fireplace, and big screen TV. WTF IS THAT??? dunno...but here is the link again. (ww.nyg2010.com)
From everything I've read, you are absolutely correct. This is why I'm saying you're really "On The Hook" with this PSL shit, more than anyone anticipates. You are buying the license (to purchase the tickets). You own this license outright... it's yours to do with what you want. But the license will stipulate that it can be rescinded (taken away... cancelled) the moment you do not pay for your annual tickets. So now, all they have to do is jack the price from $75 to $300 and all of a sudden your 4 seats are $1200 instead of $300 per game. This is the biggest danger about all this, because if they have the balls to disrespect the average ticketholder this way with the PSLs, parking and food prices, it's just plain dumb to assume they won't ream you this way with escalating ticket prices. And now you're REALLY screwed because you can't afford the ticket prices, you don't want to lose your "investment" to the tune of $20,000, and you can't even sell the PSLs on eBay because nobody is gonna be stupid enough to get you off the hook and put themselves on the hook when they see how much you paid for the PSLs and how much yuour ticket prices have escalated. So you sell your PSL for a $10,000 loss per ticket and go have a nice day. Now you're finally out from under it and watching the game on TV, which is you probably should have done in the first place. (not saying you, 17a... just sayin'). For me, the scariest thing is the scenario above. I might be fine with some sort of PSL, if I had reassurances from the Jets that my ticket prices would be, say $120 per seat for the next 5 years and they'd leave me alone. At least I'd know where I stand for now. But this shit with charging the PSL and then jacking the ticket prices through the roof, plus you know parking will be out of sight and the food prices... well... somebody's gotta pay for those leather chairs. The whole f*cking thing is a Jets fan's worst nightmare.
Now here is the only thing I haven't read...IS this PSL a zero bond??? Meaning, you lend the jets the money for the PSL, and obviously make ZERO interest on it...but when you decide you don't want your season tickets back, you get a check for the original PSL investment of your seat? Now I lived in Charlotte for a bit when they were the first in the league to implement this (I could be wrong, but if they werent the first with a PSL, then they were close). Now, most of the people I know paid around $1,500 for great seats at the time...the Panthers went to the SuperBowl, and could get about $5,000 for their ticket seats. THAT IS RARE, AND I UNDERSTAND. But what I need to see from the teams is WILL WE GET OUR ORIGINAL INVESTMENT ON THE PSL BACK WHEN WE GIVE UP OUR SEASON TICKETS? I think this is a major MAJOR decision...because when the Panthers offered their PSL's back in the late 1990's, they guaranteed that what people were buying was a bond, paid back to them when their tickets got turned in.
No. It's not a bond and you will never get a check back from the Jets. You bought the PSL and you own it. Whatever you can sell it for later down the road (to someone else, because the Jets have no interest in buying it back) is up to you, win or lose. This is not a bond. You own it. You'd better not "give up your tickets" without first selling your PSL to some other sucker. The minute you do not fork over whatever your current ticket price is for the season, you lose the PSL and will not be reimbursed from the Jets.
OHH JEEEEEEEEEEEEEEEEEZUS....!!! I am sooooo out then...thats a disgrace!!!! WHO would do this??? Rather join a country club for my $75k, and at least get that money back when I'm finished. At least I can watch the Jets on TV from my new country club, after I've played 18 holes.
Excellent post. Let me add one more gripe. The fact that you do not have first right of refusal for other events in the stadium is criminal. These are not actually PSL's but a season ticket fee because of that fact. I assure you, these are even less likely to appreciate than true PSL's since they are tied to one set of events. That's my take as a business prof. As a fan, I find it pretty ballsy of this team to charge anything for the right to buy their seats. This team has alternated between mediocre to total garbage over the last few years.
So lets say you pay for your PSL, and season tix. Your company relocates you to California. You try and sell your PSL on Ebay, cause the jets won't take them. Best bid you get is $1k (because they just went 2-14 in 2011-2012)...and then what? You don't sell, because you're not about to take a bath on thousands of dollars...Now you're stuck with these season tickets, when the price, like you said, has been jacked up to $300 a seat from $120?????? Who in their freaking mind would agree to this??? Now you can never sell your PSL and break even, because the initial PSL was SO OVERINFLATED to begin with, that we all had to pay the HIGHS???? Now they are worth 10% of what we all paid...there must be some sort of relief that we don't know about. WTF??!!! Obama wants to give BILLIONS of dollars to people who can't afford their mortgage anymore, cause they didn't realize that rates would rise, or the value of their homes drop. Their must be some sort of Congressional Bill passed for all suckers who paid through the nose at the Meadowlands, but are now stuck holding a Junk Bond?????
Thanks for the link, Rudd. Pretty good displays of the views from the different sections if you can first stomach the 60-second Giants homer commercial. Well, I finally mustered up the courage to see what my views would be and find out what the dollars will be in my section. Section 227 equates to Mezz B, which is a corner section. The views look like shit compared to the view I have now, but whatever. The PSL for this section is $7,500 and the ticket price is $400 per game per seat. This compares to my current pricing of $0 PSL and $115 per game per seat. It currently costs me $460 to take my family of 4 to a game. Parking is $20, and with some tailgating food, it costs me $500 per game. This is a lot of money for us and the prices of my seats have been escalating (percentage-wise) at an unbelievable clip for the past 5 years (biggest % increases in the entire stadium). But I have been hanging on with it and hoping the % of increase would at least subside a little. It hasn't, but I still go with my family. It's a $500 day. Based on the Giants' prices, if I stay in my current seats (with a worse view), the day will cost me $1600 for the tickets ($400 apiece) plus parking and food... add another $50. So, every game we go to will now cost me $1150 more than I was paying before... $500 versus $1650. And, for the priviledge of paying this, I will first have to "invest" $30,000 ($7500 X 4) in a PSL. There is no way I can do this. If I had $30,000 laying around doing nothing and wanted to tie it up indefinitely, with no return on the money, and the PSL therefore wasn't a big thing (can't imagine thinking that way, by the way, because that makes really stupid financial sense), the cost of the ticket prices alone would scare me off. And hey, these $400 seats... those are only the prices for the first year. They make no mention of how much they will go up in subsequent years. There is no way. Now, the Uppers are "only" $95 per seat (less than I'm paying now) and the PSLs are "only" $4,000 ($1,000 X 4). So move over, Section 314, I'm probably comin' upstairs whether you like it or not! We're neighbors!
By the way, after pulling out my 2008 invoice to see how much I mailed in in May, I'm reminded that I'm paying for two worthless "preseason games" (exhibition skirmishes, really). We buy 10 games but only get 8 "real" games: 4 Tickets @ $115 each X 10 = $4600. Prepaid Parking ($20 X 10) = 200. Handling Fee (what a joke) = $4. Total = $4804 If I buy into the new prices for my section, the bill every May is as follows: 4 Tickets @ $400 each X 10 = $16,000 Prepaid Parking ($30? X 10) - $300 Handling Fee (Yeah, Uh-Huh) = $20 Total = $16,320 How'd you like to get a bill for $16,320 every May and if you don't have the money for it, you lose $30,000? Bear in mind that $16,320 is really for 8 games. Let's face it, the 2 preseasons are worthless. So, the true cost to go to each meaningful game is $2,040, not $1600, as currently proposed. Add to that the money that you're losing annually (returns you are losing on the principle)... on the original $30,000 investment (10% per year in the stock market, for example) = $3,000. This is the return you would have had if you had invested the money wisely instead of pissing it away on a PSL. The loss of this $3,000 adds an additional $375 to the true cost of each game ($3,000 divided by 8 meaningful games). This means that the true cost of going to each game is $2415 ($2040 + $375). $2415 each week to go to a NY Jets football game.
Excellent, excellent point, BusinessProf. I couldn't agree with you more. The fact that the PSL is tied to ONLY Jets games severely limits the ability to sell it. Incrementally, the limitation increases dramatically too, because there's a HUGE difference between $1,000 and $20,000. At $1,000, you might find 20 buyers... and they pretty much have to be Jets fans. At $5,000, you might only find 5 buyers. At $10,000, you're lucky to find one buyer, and at $20,000 you're in the ionosphere. But yeah, the only venue this PSL is good for is a Jets game. And we all know how those ticket prices go when you have a losing season. Anybody going for the higher PSLs has a strong possiblity of losing his shirt.
This is lunacy...I cannot see justifying more than $1k per seat for any seat in the stadium...Looks like we're gonna have 80,000 people fighting for the upper deck. Cannot wait!!!
Excellent idea, only we need Woody and Mara there, tied to posts, so when people get sick of food fighting each other, they can turn their attention to the real problem.
You guys would appreciate this...been looking on EBAY, at people dumping their tickets rights for the 2008 season, before they get pummeled with PSLS. One guy just sold his rights to another fan, section 306 row 26 for $2,000 (2 tickets). So this person paid $2,000, thinking they will only get hit with a max PSL of $1,000 per seat to sit there in 2010. Now another person just sold their ticket rights to section 128, row 17 for $1,900 (2 tickets as well). I'm assuming the guy took what he could get for those seats now, given he won't be able to afford the $10,000 PSL per seat. Now I don't know if the person who bought these on Ebay has any clue what he's about to get smacked with ???...So there is already a demand brewing for Upper Deck seat rights.
We still don't know what the Jets are going to do but the Giants have opened up a huge can of worms for themselves. I think they said about 20% of the tickets will be priced at $1,000? If my numbers are correct, that equates to about 16,000 seats in the Upper deck that are available at $1,000 PSLs. But everybody's gonna want them. So they're going to have approximately 50,000-60,000 ticketholders wanting those 16,000 seats. Oh, you think Giant fans can whine? You ain't heard nothin' yet! What a flaming fiasco.
you have been cracking me up in these PSL threads. my friend and season ticket partner has already said he is out. he is not paying a cent for PSL's.so i will be buying 2 PSL's and then selling him the season tickets.but then when my boys get older he knows my boys have first dibs.
