With the Giants announcing the specific facts, figures and dates regarding their Personal Screw Licenses, the Jets confirmed what just about everyone anticipated.
"We are developing our PSL plan that we will announce at the end of August," team spokesperson Bruce Speight said late this afternoon.
And there you have it.
Newsday's Neil Best asked Giants co-owner John Mara on a conference call earlier this afternoon if he could envision the Jets deciding NOT to go with PSLs, and this was Mara's response:
"Let's just say I'd be surprised [if the Jets didn't] because they're carrying the same debt we're carrying," Mara said.
If you'd like some leisure reading, this is the letter Mara and Steve Tisch sent to season ticket holders, this was the news release and here is the seating chart, complete with PSL and game-ticket pricing.
I always have a favorite part of these PSL letters - in the Jets survey I noted the just horrendous "a PSL" is like "a taxi medallion" comparison and I'm sure there will be some fine fertilizer spread around in late August - and this was today's winner from Mara/Tisch:
"At a cost of more than $1.6 billion, the new stadium development is the largest 100 percent privately financed stadium project in the United States. As with the other NFL cities that have recently opened new or significantly renovated stadiums, we cannot build these new facilities without the sale of PSLs (Personal Seat Licenses) to Giants Season Ticket Holders."
I'm pretty sure the last part of that sentence should not be accepted at face value, but even if it is true, here's the problem: No poll, to my knowledge, showed New York fans demanding that the Giants or the Jets undertake the most expensive stadium project in American sports history. It's disingenuous to imply that somehow this was demanded by fans and therefore, they should help with the costs.
And the "100 percent privately financed stadium" verbiage should probably be dropped from future literature as well considering PSLs make that kind of not true.
Comments (11)
Here is one for you. Charger tickets go on sale 7/19 on ticketmaster. The Chargers are saying anybody who buys tickets and doesn't have a Calf address there orders will be cancelled. That is so bogus and somebody should do something about that.PSL's what could i say. The reality of it is its a business and this will effect a lot of fans. Just hope they can work out some type of plan so the fans that can handle it can continue to go. This goes all the way back to the early 1990's when the Carolina Panthers set the tone for the future of PSL's.My big question is if you have had seats say for 20 plus years or so and you are seated in the lower middle tiers and can't afford it. Will they then move you upstairs to the cheaper seats. And if so were do they get the room if the stadium is sold out?
PSL's = embezzlement!
Although, this country was founded because of ridiculous taxes. Now look at us. We have taxes on top of taxes. Thank god for the representation. Anyone know if you can get Directv in Costa Rica?
I can't even enjoy the signings of our young players with this PSL crapage. I don't remember asking Woody for a new stadium. I would remember something like that, especially if the words, "I'm willing to pay for it".
The JETS better be smart about this and not ask the same amounts for their PSL's. I just spoke to a Pats fan co-worker and he told me, when the Pats opened their new stadium, they didn't have PSL's. This was right after they won the Super Bowl! He did state that his seats costs are astronomical. WAH! I have to pay to see my Super Bowl team play. How does such a tight wad as Kraft not charge PSL's and Woody can? This just plain sucks!!!
please note the metal curly threaded pieces of hardware in the right of the post ...
I have been to the Vet in Philly, that was one crappy stadium. I have seats at the Meadowlands, there was absolutely no reason to build a new one, it is more than fine and if you asked any real fan (not corporate) they would say; "a new stadium, why?".
For the money Baby, for the money. The owners (both) are simply greedy.
The following text between the lines is is a direct quote from the Giants new stadium Website: http://www.nyg2010.com/ in the FAQ's section.
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What happens if I don't purchase my season tickets?
You forfeit your PSL. You must purchase season tickets every year for each PSL seat. Failure to purchase season tickets for your PSL seats (including Club seats) by a specified deadline each year will result in termination of your PSL Agreement for that seat. You also forfeit all monies paid for the PSL and all rights to buy season tickets for those seats for that season and all future seasons. In that case, Giants Stadium LLC will have the right to resell the PSL (and the associated right to purchase season tickets) with no obligation to you as a former PSL holder.
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Notice that if you can't afford your season tickets anymore, they won't buy the PSL back from you at market price, they just take it back! This is not an asset that you own. There is no intrinsic value. There is no open market for the PSL. The Giants set the price for tickets (and PSL), and if you don't pay it, you lose your PSL money.
A simple example. Say the Jets win a Super Bowl and now want to boost ticket prices. At the same time, they lower the price for a PSL. Your are now screwed. You can't afford the new ticket prices, and if you try to sell your PSL, you will not recoup what you paid for it.
I understand that they have a desirable product and can afford to charge more for it, but this charade of PSLs is ridiculous. Please, charge me more for a ticket, but don't lie to me and tell me I have some kind of license or asset!
Erik,
RC Meany bought up an interesting point in a post on the Ainge section. What if I own a PSL and opt not to excercise my "right" to buy tickets in a given year? Will the Jets sell those tickets at the box office on a game by game basis? Have I now surrendered my license by not buying the tickets? How will that particular part of the scam work? Any clues?
That's exactly what I was talking about in my post above.
If they do it the same way as the Giants, you lose your PSL, and the team does with it what they want (probably sell to another season ticket holder).
Erik,
I have a suggestion that might be a compromise, and I wanted your thoughts and that of your board.
What if the Jets PSLs allowed the owner to purchase tickets at today's price in perpetuity (probably with some inflation adjustments, but at substantially less than the annual CPI).
I see this accomplishing two things:
1.) If gives the jets a substantial amount of upfront money to help quickly repay the construction debt from the stadium.
2.) It gives the owner of the PSL some real value. The PSL could easily be sold as it allows the owner to purchase tickets below market value or purchase and sell at market value.
The downside is that the Jets may have difficulty meeting the operating expenses, however they may be able to have PSLs on a fewer percentage of seats (since they will likely sell for a much higher price) and the remaining seats would be subject to annual price increases.
Let me start out by saying that I don't like PSLs one bit, and never will be able to afford season tickets again. However, the Jets are a business first (as they've showed (shown?) by moving the whole kit & kaboodle to NJ for a sweetheart deal). Their loyaty to their fans is directly proportional to how much disposable income each fan has to spend on tickets, merchandise, etc. To expect them not to charge for PSLs out of loyatly is ludicrous by definition. It is a business, and what they will charge is purely market driven. I guarantee every home game continues to be sold out for years to come no matter how most of us feel about these PSLs.
Having said that, I'll still root for them (or their laundry, if you listen to Seinfeld) until the day I day because I'm a fan(atic). Maybe I'll take my $5,000 and get a really nice HDTV to watch the games from my own personal club seat. The food is cheaper, and I won't have to wait in line for a toilet.
The PSL is only for the first year - correct? It is not somehting that is charged year after year.
My seats will be in Terrace - so although I dont like it - it is just $1,000. I feel bad for those with nice 50 yard seats. There is no way I could do $5K+ for each of my seats. A lot of turn over down in that section.
I'm really tossed. This is my first year getting season tickets after a ridiculously long wait on the list. I hate the idea of paying to pay more. Then drive from Central Va through toll ridden NJ, Maryland & Delaware. I like the idea of saving that money and buying a much nicer LCD HDTV with Directv and the football package. Less gas, tolls, taxes, weather and the food is always hot. Not a bad view of the game either, without the nose bleed.