pygmypony Posted July 22, 2008 Share Posted July 22, 2008 Hi Folks, Was wondering what some opinions were out there on the Giants' proposed PSL plan. On one hand, I'm upset that, as a longtime season ticket holder (Mezzanine Section) we won't be able to hold onto our seats due to the high PSL price ($12,500 / ticket) and per game price ($500 / ticket). The way I see it, there are three options (with many variables in between): 1) Sell the rights to the PSL, pocket a windfall (potentially, though i have no idea if this is realistic, considering the economy right now) 2) Opt out of our mezz seats and take a lesser seat in the upper level with much more reasonable economics 3) walk away without doing anything Option 3 seems like biting off one's nose to spite ones face, no? Option 2 is ok, but to be honest, with a busy family life, and the bitter taste of getting "hosed" out of the seats we've had for 50+ years, I'm leaning toward Option 1. Just interested in hearing other's points of view on this, seeing if anyone has any experiences from other stadiums around the country, etc... Quote Link to comment Share on other sites More sharing options...
Kid Cid Posted July 22, 2008 Share Posted July 22, 2008 As number 32,817 on the NYG Season Ticket waiting list, I ask you to give heavy consideration to option 3. Quote Link to comment Share on other sites More sharing options...
TimC Posted July 22, 2008 Share Posted July 22, 2008 4) Root for a real team, like the Dallas Cowboys. Quote Link to comment Share on other sites More sharing options...
Kid Cid Posted July 22, 2008 Share Posted July 22, 2008 (edited) 4) Root for a real team, like the Dallas Cowboys. Don't make me steal my wheels back. Edited July 22, 2008 by Kid Cid Quote Link to comment Share on other sites More sharing options...
TimC Posted July 22, 2008 Share Posted July 22, 2008 Don't make me steal my wheels back. You're like Eli...you only get one chance. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted July 22, 2008 Share Posted July 22, 2008 (edited) Hi Folks, Was wondering what some opinions were out there on the Giants' proposed PSL plan. On one hand, I'm upset that, as a longtime season ticket holder (Mezzanine Section) we won't be able to hold onto our seats due to the high PSL price ($12,500 / ticket) and per game price ($500 / ticket). The way I see it, there are three options (with many variables in between): 1) Sell the rights to the PSL, pocket a windfall (potentially, though i have no idea if this is realistic, considering the economy right now) 2) Opt out of our mezz seats and take a lesser seat in the upper level with much more reasonable economics 3) walk away without doing anything Option 3 seems like biting off one's nose to spite ones face, no? Option 2 is ok, but to be honest, with a busy family life, and the bitter taste of getting "hosed" out of the seats we've had for 50+ years, I'm leaning toward Option 1. Just interested in hearing other's points of view on this, seeing if anyone has any experiences from other stadiums around the country, etc... Had the same dilema several years ago when the Ealges PSLs were putting a crunch on me. I opted for #2, and am kicking myself ever since. While I often make some solid ching selling my 2nd level seats for 200% profit, the lower-level PSL seats go for almost 300% face value. But the kicker is the value fo the PSL itself. I opted out of paying $6K per seat (we had 4 seats at the old Vet, 35 yard line, lower level)....I would have had to come up with $24K. No way I could do it, so we passed for 25-yard line 2nd level seats. This PSLs now are selling for $12K-15K on EBAY....and the waiting list is 63,000 people long. If you can afford it in any way, finance the PSL, sell your tickets on a game-by-game basis to pay for them, and consider it an investment. You may not make as many games as yuu did in the past, but you still have the tickets in your name, the PSLs will be paid off one day, and you'll have something you and your family can enjoy for as long as you wish. Edited July 22, 2008 by i_am_the_swammi Quote Link to comment Share on other sites More sharing options...
JoJoTheWebToedBoy Posted July 22, 2008 Share Posted July 22, 2008 4) Root for a real team, like the Dallas Cowboys. Excellent Idea... Quote Link to comment Share on other sites More sharing options...
Kid Cid Posted July 22, 2008 Share Posted July 22, 2008 Excellent Idea... Note to self: dig hole first... Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted July 22, 2008 Share Posted July 22, 2008 (edited) Is the PSL fee a one tiem fee or every year? If someone can explain to me what PSL is I'd appreciate it Edited July 22, 2008 by MrTed46 Quote Link to comment Share on other sites More sharing options...
Hugh 0ne Posted July 22, 2008 Share Posted July 22, 2008 Is the PSL fee a one tiem fee or every year? If someone can explain to me what PSL is I'd appreciate it It's like a land grant at a Country Club. You pay it, they hold your money, you get your money back when you get rid of the seats. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted July 22, 2008 Share Posted July 22, 2008 It's like a land grant at a Country Club. You pay it, they hold your money, you get your money back when you get rid of the seats. Almost. As you stated, you pay it, they hold your money, you get your money back when you get rid of the seats. ....but, unlike a Country Club, you also have the right to sell it, whenever you wish, to the highest bidder. You can buy a PSL today, and like a stock, sell it for a profit. All you then have to do is transfer the PSL ownership to the new owner. In terms of definition, a PSL is a Personal Seat License, which grants you the rights to buy season tickets for a particular seat. When you buy a PSL, you are buying the ability to buy season tickets. here's a very basic synopisis of why teams sell PSLs: 1. Team wants to finance $1.2B stadium....needs $400M or so in equity to get stadium financed 2. Team sells 30,000 PSLs at an average of $15K each for a total of $450M. 3. Buyers of PSLs are then guaranteed the rights to their tickets for as long as they wish. Rights are transferable. There has not been one case yet where the value of a PSL has lost money. For most successful franchises, they have doubled or tripled in value over a very short period of time. The Giants, though, are in new waters, with their cheapest PSL costing $12K. By comparison, the lowest PSL for the Eagles new stadium 5 years ago was just $2,500. Hope that helped! Quote Link to comment Share on other sites More sharing options...
Front Row Posted July 22, 2008 Share Posted July 22, 2008 (edited) psl Ouch . 10 g's for the field level seats I get. Guess I'll be paying the ticket holder more this yr....if he keeps them. Edited July 22, 2008 by Front Row Quote Link to comment Share on other sites More sharing options...
Hugh 0ne Posted July 22, 2008 Share Posted July 22, 2008 Just for the record the Jets are doing the same thing for the same stadium. Quote Link to comment Share on other sites More sharing options...
pygmypony Posted July 22, 2008 Author Share Posted July 22, 2008 thanks for the responses guys... not sure what will happen with all of this. one of the real kick in the balls isn' the PSL price (which for my seats is $12,500) but the $500 / game for each ticket. currently seats in the old stadium are selling (forget what people are asking) for about $250 / game on stub hub ($100 face value). why do the giants think they'll get $500 / game? Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted July 22, 2008 Share Posted July 22, 2008 I like football. But not at anything that level of prices. Holy Smokes! Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 23, 2008 Share Posted July 23, 2008 What happens if the team goes bankrupt? Quote Link to comment Share on other sites More sharing options...
Front Row Posted July 23, 2008 Share Posted July 23, 2008 The construction cam is cool. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted July 23, 2008 Share Posted July 23, 2008 $500 / game for each ticket. that is rough...not sure how much more you'll be able to garner selling those with a starting price of $500 just to break even....and if the Giants are like the Eagles, you'll have to pay that amount for two home pre-season games, too. Talk about trying to push the limits coming off a Super Bowl.... Quote Link to comment Share on other sites More sharing options...
PSULions Posted July 23, 2008 Share Posted July 23, 2008 Hi Folks, Was wondering what some opinions were out there on the Giants' proposed PSL plan. On one hand, I'm upset that, as a longtime season ticket holder (Mezzanine Section) we won't be able to hold onto our seats due to the high PSL price ($12,500 / ticket) and per game price ($500 / ticket). The way I see it, there are three options (with many variables in between): 1) Sell the rights to the PSL, pocket a windfall (potentially, though i have no idea if this is realistic, considering the economy right now) 2) Opt out of our mezz seats and take a lesser seat in the upper level with much more reasonable economics 3) walk away without doing anything Option 3 seems like biting off one's nose to spite ones face, no? Option 2 is ok, but to be honest, with a busy family life, and the bitter taste of getting "hosed" out of the seats we've had for 50+ years, I'm leaning toward Option 1. Just interested in hearing other's points of view on this, seeing if anyone has any experiences from other stadiums around the country, etc... I would opt for trading down from the Mezz Club section to either the regular Mezz (end zones) or the Loge seating in the 4 bottom rows of the upper bowl. $120 or $105 for game is reasonable, but $500.... sheeesh that is quite salty. I have PSLs for the Panthers games and my cost was $2,000 per seat and season tickets price of $1,220 ($62 per game / seat). I would need to take a large loan to afford not only the PSL cost of $25M (assuming you have 2 seats), but the $10M per year cost of the season tickets at that price, let alone the staggering cost of playoff tickets, which would cost another several thousand more should they make the playoffs. Good luck with your decision. Quote Link to comment Share on other sites More sharing options...
TimC Posted July 23, 2008 Share Posted July 23, 2008 Ummm, do you like buy the Giants games and get the Jets for free? Quote Link to comment Share on other sites More sharing options...
Front Row Posted July 23, 2008 Share Posted July 23, 2008 (edited) Ummm, do you like buy the Giants games and get the Jets for free? Ummm, NO. You big goof ball..., who would want jets tickets? Edited July 23, 2008 by Front Row Quote Link to comment Share on other sites More sharing options...
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