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Thursday, July 17, 2008
That will be 300,000,000$ please… paid in 3 installments
By Tangotiger, 06:05 PM
The NY Giants announced their plans in selling personal seat licences. It looks like the average licence is around 4K I suppose, and with 75K seats… well, the math is easy here. K times K is MM. And 75 times 4 is 300. Wow. Imagine buying a baseball team for 300MM. Instead, here, you pay 300MM for the right to buy tickets! Fantastic idea. I’m sure the Jets will follow something similar.
By the way: no complaining. If you don’t like it, don’t buy it! Reminds me of Kelly Ripa being outraged at the 20,000$ price tag of some Hermes purse.
- “This is an outrage, this is ridiculous, I can’t believe it!”
- “Miss Ripa? It’s our last bag.”
- “I must have it!!”
Is John Mara full of $h!t or is he keeping it real? On the Carton/Boomer show, after Mara said the cost of the Stadium came in 600MM higher than expected, Carton asked him point-blank how they could have made such a bad estimate. Mara replied about the cost of steel and labor and whatever.
Carton, asking very good and tough questions, didn’t followup. He asked about the DIFFERENCE between when you make the estimate and today. Did the expenses of materials and labor increase 50% in the meantime?
The Giants also have 150,000 names on the waiting list. That right there tells you the reason for the PSL. It’s the ONLY reason. It has nothing at all to do with reducing the debt on the stadium. If there was no one at all on the waiting list, there would be almost no PSL (certainly not across the board). Carton talked at length about it, and he nailed it.
If I’m selling ice cream at 50 cents a cone, and I have enough to sell 100 cones, and I have 250 people waiting in line… well… I’m going to be disappointing 150 people either way. Do I really care about the first 100 people who happened to be in line, even if they are repeat customers? Heck no. I’m going to jack up the price, or I’m going to create a “Personal Standing-in-line Licence” to give people priority rights to buying ice cream.
Or, I’m going to sell those rights to American Express, who can they use that as advertising to attract Giants fans to buy tickets with American Express if they buy the 250$ annual Blue-Platinum card.
Really… when it comes to sports, it seems our education and business sense goes out the window. There is money out there. It’s ready to be spent. It’s either going to stay in the fans’ pockets, or it’s going into the secondary market.
By the way, parking will cost 40$ !!! I remember when I moved here ten years ago, parking was 10$. When you build a stadium in the middle of nowhere and there’s nowhere else to park, you pay the rate, especially if tail-gating is that important. It’s probably not a good business opportunity for someone to rent out a lot, allow tail-gating and bus your drunk customers back and forth for 8 (or 10) games. That’s why they will charge super high parking prices.