Hey … Umm … How Much Would You Pay to Pay to Watch Jets Games?
Most Jets season ticket holders have seen the handwriting on the wall for a while now when it comes to PSLs, but here’s the first official time the word has been mentioned by the team in public on the topic as far as I can tell.
A season ticket holder sent this screencap of the start of the survey onto me. After a long litany at the start of the survey on how great the whole new stadium is, they then drop this guilt trip on the person being surveyed …
The Jets have taken a substantial amount of debt to finance the construction of the new $1.3 billion stadium. Like other teams that have built stadiums in the recent past, the Jets are required to pay back this construction debt quickly.
The Jets are surveying different types and terms of Person Seat Licenses (PSLs) as one of the ways to help acheive this requirement. A PSL is an asset, like a taxi medallion, that is purchased in addition to the ticket that give the holder ownership of the seat. This holder can then sell the seat license in the future, including for any profit, to someone else if the holder no longer wishes to purchase season tickets.
PSLs have been sold in virtually every new NFL stadium built in the past 15 years as a way of paying for the construction costs. For example, the Dallas Cowboys have announced a PSL program with prices ranging [from] $2,000 to $12,000 for general admission seats and from $16,000 to $150,000 for club seats.
So … let me get this straight …
Ticket prices have been jacked well above the current rate of inflation over the past ten years, and the team is conducting surveys to ascertain just how much they can squeeze out of their most financially loyal customers’ pockets without pissing them off enough from walking away from their season tickets?
Imagine that a friend comes to you saying that he’s in serious debt and asks you to borrow money stipulating he’s not sure if he can ever pay you back. When you ask how much he needs, he responds “well … how much would you be comfortable loaning me?”
I don’t know about you, but that takes some serious balls and/or disregard for your monetary situation to phrase something in such a manner. It will be explained away as trying to be sensitive to fans’ financial situations. Believe it or not, fans aren’t stupid, so I’d hope the team could be be adults about this and call this what it really is … a shakedown.
Meanwhile, SI’s Peter King is doing PR work for Giant’s owner John Mara’s buying his sob story hook, line, and sinker about how the billionaire is losing sleep over the fact that he’s going to have to charge for PSLs … boo hoo … poor poor John Mara. Yet, somehow Peter King is the one of the most respected voices in NFL journalism … I’ll never understand it.
So many questions in my mind …
Do they care that they are pricing out fans? What happens with the PSL when the organization deems that the stadium is too old twenty years from now and wants to build another stadium? What happens to that “asset” should the team move off the financially greener pastures in another city with a better deal? I guarantee you it won’t be considered an appreciable asset should the team have to repay it … if they even would pay it back at all in that case. Could they decrease the fans’ investment if they got more corporate sponsors than just the four corners and overall naming rights?
I’ll admit, you can’t beat the Gameday Experience at the Stadium, but to actually watch the game, I’m a TV guy. I’m sure the stadium will be beautiful, I’m sure I’ll tour it like a giddy schoolgirl, but here’s a novel idea. NO ONE FORCED THE TEAMS TO BUILD A NEW STADIUM AND WHILE DOING SO, MAKE IT THE MOST EXPENSIVE ONE THE LEAGUE HAS EVER SEEN. They are doing this to force loyal fans to finance a stadium so they can make more money off those very same fans with more expensive tickets, concessions, etc.
I don’t know if anyone from the team reads this site (nor do I really care) but if someone in the organization would try to convince me why my frustration with the situation is unfounded, I’d be obliged to hear the argument.
How do you feel about this? If you are a ticketholder, are you prepared to finance the stadium to the tune of somewhere between $2-12K per seat?
38 Responses to Hey … Umm … How Much Would You Pay to Pay to Watch Jets Games?
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Nick says:
I’m done. TV has come far enough that I don’t need to spend the money anymore. Honestly, eff them.
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A-JetFan says:
I recently filled out the survey and there are 3 points you missed.
1.) The pricing scheme: as low as 800 and as high as 25k.
2.) this may actually level secondary tix markets, as many brokers who have 10-20+ seats won’t be able to afford the PSL and can’t by the season tix and turn around, jack up the price and sell them.
3.) The team “commits” to buying back your PSL at any point in time, once it has been fully paid off (most PSLs have the option of financing over 5 years. for you financial planners out there, the interest is built in, so that they can tell you there is 0% interest. ie the seat would be 100, but if you pay it off over 5 years its 25 a year.)
So while I disagree with the concept, from a financial perspective, if you have the money (which i don’t) you are assured that your asset won’t depreciated (time value of $ aside).
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DKnyj says:
Basset – could you imagine if the west side stadium actually happened?! Could you imagine the psl cost then?! I mean we are splitting the cost with another franchise!!! And another note – love peter king to death, i would give anything to have a beer with that guy – but the marra crap makes me want to rufee his beer and and break the bottle over his head. How much money did mara just rake in from the superbowl??? Why doesn’t he use that cash to pay for the psl?! Total BS.
The worst part is when i ebay a ticket to the new stadium and toss an F bomb towards schottenheimer for calling a fade pattern to the second shortest #1 receiver in the leage in the end zone – I’m going to have to listen to some corporate monkey about how his spoiled 12 yr old prep school brat has never heard the F word. BS!
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RayD (CWPOST) says:
I just took a survey via a link provided by the JETS. I have 2 seats in section 139 row 10. They are seeking roughly $2k per ticket plus PSL of $5k upfront and $5k for the next 10 years. Maybe I’m confused ?
Are they nutz ? I guess I’ll be buying a state of the art HD Plasma and tailgating with the boys in my backyard.
There’s no way I see myself paying that absurd amount. Jeeeez …. There’s gotta be a better solution.
You won’t be hearing J-E-T-S JETS JETS from the Corporate fans! I will enjoy my final two years …. I will be extremely sad to depart from my season tixs! Worse case I’ll sell/transfer them prior to the start 2010 season starts.
I’m dying here just thinking about it !!!
One depressed JETS fan
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I had to vent some more … Will don’t they just freaking sell the naming rights to fund the debt for construction cost.
AT&T Stadium ? JP Morgan Stadium ? Whatever …. Get creative ! Freaking do it !
400 mil for 10 years !
Frustration … This blows
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Jimbo says:
It’s really irritating how expensive football is. It’s already the most expensive of all of the major sports to go to, and yet with PSLs tacked on, and with higher ticket prices, it’s somehow going to get even worse. Just to afford the 4 seats my and my father have, we have to bring onboard some other people. Usually we both go and we bring two other people along. I’m sure John Mara is losing sleep at night, I wish I could lose sleep over raking in millions of dollars instantly.
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I used to have season tix, then moved away and now moved back. I was considering getting season tix again, but to go on board with someone who already has them and have to share the astronomical cost of the PSL? Forget it! No way would I ever do that. It’s a no brainer – stay home and once in a while go to a game and buy a couple of tix from a scalper. What a joke. Woody the Republican, I wish you’d sell the team to someone who wasn’t born with a platinum spoon in hos mouth.
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droseatwork says:
Amen. I can’t afford to go if they do this. I can barely afford these tickets as it is. It’s 1800 just to get into the stadium now!
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SackDance99 says:
The club seat prices are ridiculous and take all the prime locations. Also, I didn’t see what the price and PSL would be for upper level 50 yard line seats. Sure, upper level behind the goal posts weren’t insanely pricey, but my seats are better than that now. A PSL that’s the price of the season ticket is something that I’d still hate, but could live with; however, the PSLs are all around 5 times the cost of the season ticket…that’s just unfair.
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Yikes! I can see it now…a new stadium is built and it mostly goes empty on game-day because the average Joe can’t afford to get bent over by Woody, and the corporate lawyer and his son would rather see the 2007 Superbowl winning Giants from their corporate seats (’cause big corps. just LOVE winners, don’t they?).
Then Peter King writes how boo-hoo Woody doesn’t understand how come no one is going to the games after he gave the Jets fans what they always wanted…a new stadium.
I’ve been paying a PSL most of my life to watch JETS games in my living room…it’s called a morgage!And with the way cable costs are going, I’ll be “watching” games like my grandfather did in 1940…with an ear pressed aganst the radio! How’s that for progress?!
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AJF-
thank you for the information, i guess we’ll see how it all plays out …
bubby … but at least you’ll get to listen to the dulcet tones of one Bob Wichusen!!
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J2B says:
this is what i wrote at the end of the survey.
The “prices” that you have listed here for tickets for most parts of the stadium are extremely high. for the fans who have been coming to games even before they had tix in their own name and now have tix, they will be priced out. these are the fans that have been filling the stadium throughout the years, whether the team won (rarely) or lost (way too much). but, if you want a stadium filled with corporate big shots who could care less about the product on the field, then congrats. don’t forget your real fans in order to make a quick buck. last time i checked Woody Johnson didn’t have to worry about the economy.
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18andOne says:
You won’t see me at a Jets home game. For the price they charge its just not worth it. It really isn’t that much better then watching the game on tv. With the money you spend going to the game you can have an awesome party watching the game at home with other true Jet fans. The NFL is a business now, and guy’s like Woody Johnson don’t care about the actual game but care about how much money they make off it.
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DSmizzle says:
I agree with 18andOne … I really, really love the experience of tailgating, etc., but football season is already awesome … college football Saturdays as a warmup for the JETS on Sunday. Can’t beat it. AND, even without season tix, I wind up hitting up at least one game a year, and I usually drop enough coin to realize that I probably couldn’t swing a full season’s worth with all my loans, etc., in the first place.
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charleyjet says:
You are 100% right. I have had season tickets since the 2nd year at SHEA Stadium. The games were blacked out then on home TV. My seats are in the mezzanine and will now be considered “club seats.” I will not pay huge fees for the right to buy overpriced tickets. They are forcing the average fan out of the stadium. I’ll take it at home on free TV.
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marc says:
Jet fans should unite, not buy season tickets, and just go by a game to game basis for a year. This would effectively show the organization PSLs will not fly. Too bad this idea would never work.
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16G Mike says:
I was forced to start putting some cash away every week as soon as I heard the first rumblings about this. Some buddies that have eagle tickets went through this a couple of years ago, so I knew it was going to happen. It sucks but, they have me over a barrel. They provide a product I need to see. God help me!
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sec108 says:
marc, you are right, it would never work, because there are plenty of people lined up to buy our season tickets with PSL’s when we relinquish them. Unforntunately for the team, the chaff that replace the real fans won’t know first down from fourth, and couldn’t spark up an inspirational defense chant if their lives depended on it.
I remember when the Jets first moved to the Meadowlands, so many pissed off jet fans from Shea refused to go, outraged that the team had moved from NY, they opened up sales to the Giants waiting list to sell the rest of the seats, what you got was casual football fans there just to see a game, or worse fans of the other team easily able to buy these seats now that they belonged to a non jets fan. Over the years alot of these have been weeded out, but you still see 10 times more opposing team fans in our stadium than you would in almost any other as a result of this. It will only get worse with the soulless corporate bozos that will parade in once this travesty is complete.
I’ll miss the tailgating tremendously, the games I will see on TV. Instead of 8 sundays a year I’ll probably get 1 o 2 and just watch the rest on TV.
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buddha says:
This is exactly why I always ask fans why they are siding with Jets management in player disputes. The Jets don’t give a crap about the players and they don’t give a crap about you. They only care about making money. That’s the NFL way. The year before Parcells (yeah, I know Kotite sucks) my ticket cost me $200 – FOR THE SEASON!
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Mike in Manhattan says:
Sec108, you hit it right on the head about how the Jets abandoned their fan base 25 years ago and they wonder why the “home” fans don’t support them %100, but I think there are still 35-40% non-Jets fans at the games even now. That will probably go up to about 60% non-football fans at all in the new stadium. I told them in the survey that I won’t buy a PSL under any circumstances.
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takeastand says:
It is time to start calling and emailing the ticket office…and complaining.
516.560.8200
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Call WFAN, Newspapers, local networks…
This is a fleecing of the JETSFAN!
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buddha, I agree. Everyone here seems hyper-protective of the owner’s money, etc., in lieu of simply throwing some extra coin at Baker to make that problem go away (he is a useful player, after all, that can help them out). Meanwhile, the ownership is laughing all the way to the bank at the fans’ expense… his laughing would be even more uncontrollable if he knew that hardcore fans were so protective of HIS money while he doesn’t give a flying truck about ours!
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JustAGreenGuy says:
I hate that they feel they can raise the prices at everythingbut I side with Tangini over the players because very few players have any loyalty.
Think Johnny Damon to the Yankees
TO crying about his QB (Who didn’t laught thing what Garcia and Mcnabb must have thought seeing that)Everyone in this league is about making money. Don’t fool yourselves to think that one player would play this game for free. The coaches are the only people, other than QBs, who are constantly scrutinized. They just started making big bucks in the past ten years.
As for the GM I’ll side with the guy who brought in Revis and DH over a TE whos best play didn’t count.
Ownership sucks but at least he hasn’t moved the team to LA or changed the name to a product so it can be a marketing ploy.
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JAGG, I agree 100% that Tangini has a great track record with regarding to drafting players.
But their draft resume and their dealings with current players who are making noise (e.g., Pete Kendall) are two different categories.
So in the draft category, I’d give them at least an A- or thereabouts.
In the latter category, with only the Kendall situation on their resume, and the Baker situation being their new challenge, they universally get a failing grade league-wide for that. If they want to get a passing grade in this category, they need to handle the Baker situation in a way that is best for the team on the field. We’ll see, I guess, how they do!
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DSmizzle and Buddha,
These are entirely separate arguments, what the team spends on players and what they charge me to see the games are not directly related (if they were I’d REALLY be against giving the Kendall’s and the Baker’s of the world more money). The Jets spend very close the cap every year, but how they distribute that among the players greatly affects the moves they are able to make to improve the team, if we don’t force players to honor long term contracts and just cave every time one of them whines then the team will be at a competitive disadvantage when it comes to the cap.
Whether or not I ever attend another game in person, I will always care that the Jets field a good team, that is why I am “siding” with management here, not because I am delusional and think they will have my back when it comes to over priced PSLs.
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Okay, Sec108, everyone here agrees that in this day and age (the “free agent era”), you have to look at things on a year-by-year basis. Sure, you still want to lock up guys like Harris, Rhodes, Cotch, Revis, Mangold, etc., to long-term deals and all, but it is truly a volatile league.
You have to, to a very large extent, live in the here-and-now. For THIS YEAR, almost no one thinks the JETS are better off with Baker sitting on the sidelines so management can theoretically never have problems with players complaining again.
The bottom line is that he is our best all-around TE, even if only slightly above-average in the NFL, and the JETS are better off with him, THIS YEAR. If you really respect Tangini’s player management (not including the draft), then you should think highly of their ability to absorb the Baker situation this year, and deal with similar situations as they please in the future. I.e., “caving” here doesn’t mean they “cave” next time a player does this (and this WILL happen again on the JETS regardless of the outcome).
Lets put our best foot forward in 2008. Not only is the team better, but its a vital year for our potential future QB, Clemens. He could use Baker! Come on ladies, lets put this fire out and try and win as many games as possible THIS YEAR!
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Mehl56 says:
I have dreaded this day for so long! I have had my season tickets since 1988 and planned on passing them down to my 7 yr. old son some day but looks like my plans will change! It’s a shame- the real fans will be priced right out of the new stadium!
Can someone answer- from what I have heard about PSL’s is that you own your seat for any event that takes place in the stadium but how would that work with two teams having PSL’s in the same stadium? or do you only have rights to the seat for each football game?
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MustangTom says:
Quote:
“The Jets have taken a substantial amount of debt to finance the construction of the new $1.3 billion stadium. Like other teams that have built stadiums in the recent past, the Jets are required to pay back this construction debt quickly.etc”
The Jets Management did not mention the Income they will receive from the sponsors . see NYPOST Article
The estimated income from sponsors is $1.5 BillionThis plus TV income more than covers the cost of the new stadium. It is outrageous that the Jets are charging such high prices for tickets.
The fan support has resulted in enormous profits and increased team value for the owners.The Fans be dammed This is pure Greed on the part of the Owners of the Jets & Giants
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dmy says:
I’m done. I’ve been on the waitlist for three years and they sent me the survey. Nauseating. I won’t do it. PSLs will keep me home with my HDTV. Paying for my sons college education comes first. Who do they think makes up their fanbase? Are they that clueless? Everyone talks about corporations buyng up the seats, which ones? Most of them are laying people off these days. We didn’t need a new shared stadium and we sure shouldn’t have to pay for Woody and the Mara’s excesses.
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Look, like I said before, the club seat prices are insane and will be sold to corporations and the wealthy. As for the general admission seats, I think we’ll all have to see how it shakes out. One line in the survey said that there might be a 1% reduction for every year as a season ticket owner up to, I think, 25%. Also, PSL financers will come out of the woodwork because a loan secured by a PSL is as good as a mortgage loan or margin on stock. I know lots of long-time fans have 4 seats (or more). If you’re a long-time fan, you’ll get the reduction on all 4, finance them and then flip 2 and you’ll probably pay off the PSLs for the other two. Hey, it sucks, but if you still want to be at the games, be prepared. Remember the PSLs are like commodities and this is NY, so there will be a brisk market, especially if the Jets are winning.
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section127 says:
The utility gained in going to the game is not justifable anymore. Despite the seat price increases, the two preseason games that they force on you, the parking… i’d rather watch it on tv or maybe scalp for a game or two rather than buy a whole season.
And how do you justify such costs with the crap they put on the field.
No thanks, I’d rather give a bum a dollar to kick me in the groin.
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It is just amazing that this news comes out after a garbage 4 -12 season…..
Personally, I am on the waiting list and have been so for 3 years now. I am not too sure tho if I will purchase the tickets once my turn comes up with all these prices.
2 years ago, my cousin and I bought season tickets off ebay for 1400 in sec 107. No parking, no nothing. 2 Years later, we have to pay for parking licenses and now PSL.. What is next?
And all this while the JETS suck on the field. What will they do if the team starts producing???
I love the Jets and wont miss a game for nothing but I can watch it at home.
Anyway, going to the stadium pisses me off sometimes cuz alot of people are their just to have fun and not watch the game. I hate when they start play that stupid “times have never been so good” song when the JETS are getting embarressed on the field and all the FAKE fans start singing while we are down by 21 points.
**** it. Ill be more than happy to watch the game at home and drink as much beer as I want with my friends… It is a business and they are doing this on purposes to kick us out.
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Observer says:
How about some sort of boycott of sponsors (like the cornerstone sponsors), so that PSL’s become unprofitable for the team.
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Sect138 says:
I read the survey-and all the “would you buy this seat”. You want facts? You want numbers? Here are all the options they offered. The prices were so high and obscene, they had to hide the final PSL totals by stretching the payments (some for 15 YEARS!!) Read ‘em and weep…
Note: PSL payments are in addition to the annual season ticket price.
Upper Bowl Endzone $900/seat;$500 PSL now
Upper Bowl Endzone $630/seat;$1,000 PSL now
Upper Bowl Corner $1,000/seat;$1,000 PSL nowUpper Bowl Corner $1,000/seat;$4,000 PSL now
Mezz Endzone & Corners $1,550/seat;$800 now then $375 for 15 years ($7,175 PSL)CLUB Mezz 20yd to goal $5,250/seat;$1,000 now then $450 for 15 years ($7,750 PSL)
Lower Bowl Endzone/Corner $1,050/seat;$1,600 now then $1,600 for 5 years ($9,600 PSL)
Lower Bowl 30yd to goal $1,450/seat;$12,500 PSL now
Lower Bowl Endzone & Corners $1,050/seat;$2,400 now then $2,400 for 5 years ($14,400 PSL)
Lower Bowl between 30yd lines $1,650/seat;$2,000 now then $900 for 15 years ($15,500 PSL)CLUB Mezz Level @ 50yd $5,250/seat;$2,000 now then $900 for 15 years ($15,500 PSL)
CLUB Mezz between 20yd & 40yd $5,250 seat;$3,000 now them $1,300 for 15 years ($22,500 PSL)
COACH CLUB Rows 1-10 between 30yd & 40yd $6,250/seat;$5,000 now then $5,000 for 5 years ($30,000 PSL)
CLUB Mezz between 20yd & goal $5,250/seat;$4,000 now then $1,800 for 15 years ($31,000 PSL)
COACH CLUB Rows 1-10 between 30yd & 40yd $6,250/seat;$5,000 now then $2,200 for 15 years ($38,000 PSL)
COACH CLUB Rows 1-10 @50 yd $6,250/seat;$50,000 PSL now
COACH CLUB Rows 1-10 @50 yd $6,250/seat;$10,000 now then $4,400 for 15 years ($76,000 PSL)
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namath hooked me says:
Why don’t we ask the elected officials to pass a law that the Jets can not use the NY name if they price out the loyal NY fans!
Call your represetatives!
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sec135 says:
I understand that the PSL is a way of “purchasing” part of the new stadium, so that seat belongs to you for as long as the Jets play in the Meadowlands. This means that you have the right to sell the license to whomever, for whatever you’d like (could it be a smart investment in case the team turns things around and flourishes in their new digs?)
Now I’m wondering if we should have first dibs on the seats we “own” when there are other events in town, like Springsteen, or World Cup soccer… I know that’s the deal for people who pay the annual fee for those luxury boxes = they get 10-20 tickets for every home Jets game, then have first option to buy for any other event happening in that stadium during the fiscal year.
Anyone heard anything about this? Hell, for $5K a seat, I should be allowed to swing by the stadium and drop in any time, maybe just to take a nap or drop something off in my personal lock box!
SECOND YOU HERE BROTHER!