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A word to the wise on PSL's


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Here's some advice to the PSL holders who are are sorry they got themselves into the mess, can't afford the tix any more, are sick of the increases in the PSL seat ticket costs, sick of paying full price for pre-season games, are pissed that the Jets decided to sell upper bowl seats for only $50 bucks; killing the value of YOUR tickets or just regret ever making the decision in the first place...

There is NO resale market for Jets PSLs. This is a life sentence! So if you want to get out of your PSL and you're thinking that you'll just pay it off and put it up for sale... think again... ain't no one out there to buy em! Take a look at the independent website Stadium PSL Exchange under NY Jets... http://www.stadiumpsl.com/new-york-jets-psl-s-for-sale/1134.html

There are 388 listings for Jets PSL's. NOT 388 seats, 388 listings (only 2 other teams have more listings out there), most with 2 seats some with 4 to 6 seats. So there's around 1200 seats out there that fans are tryng to dump. Many are asking a fraction of the original cost. This is only THREE years in!! Just think how the number will increase in a few more years!

So, here's my advice... the key is if you're on a 15 year payment plan, this could work for you. If on a 15 year plan, you still have a large outstanding balance. Example, if you have 2500 PSL seats, your outstanding balance is $1910. Odds are that your balance well exceeds the market prices for seats in your location. My advice in this case is simple... WALK AWAY!, Default on the payments. Unauthorize any future credit card or ACH payments. You'll be better off. The loss you're taking will pay for itself on the savings you'll have on the pre-season tix for the next three years alone. In this case, it would be extremely hard to sell a 2500 PSL on the open market for 1900.

If you're worried about what will happen if you default on your future payments, this is what the Jets have on their website in writing...

What happens if I do not purchase my season tickets or complete my PSL payments?

If you default on your obligations under the PSL Agreement or Club Seat Agreement, Jets Stadium Development LLC will have the rights listed in the default provisions of those agreements, which include forfeiture of your PSL and all monies you have paid for that PSL up to that point. This means you will no longer have the right to buy season tickets for those seats for that season or any future season. Jets Stadium Development LLC then will have the right to resell your PSL with no obligation to you as the former PSL holder.

I usually wouldn't post something like this, but I have my reasons... the Jets ticket folks have wronged me and I'm fed up. Once they have you in deep with the PSL, you're F***KED and they treat you like a piece Sh*t! The more I think about it, the more I realize how poor a decison it is on our part to invest in PSL's in the 1st place. Now's your chance to get out before it's too late! Good Luck!

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Posted · Report post

this is like people walking away from underwater houses. Jets 2012, fully underwater.

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Posted · Report post

The housing collapse of 2008

The Jets franchise collapse of 2012

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OMG...Short sales on PSL's.....At least the REAL ESTATE market is picking up for me~~ SOOOO glad I didnt purchase PSL just the cheapo upper seats~~~ Good day~

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Posted · Report post

Whats the point in even buying PSLs? Unless the team is a sellout every single game..

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OMG...Short sales on PSL's.....At least the REAL ESTATE market is picking up for me~~ SOOOO glad I didnt purchase PSL just the cheapo upper seats~~~ Good day~

BRENDAAAAA!!!!!

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Posted · Report post

Also, LOLCURB

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Whats the point in even buying PSLs? Unless the team is a sellout every single game..

Status. And maybe a refrigerator magnet

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Posted · Report post

Whats the point in even buying PSLs? Unless the team is a sellout every single game..

You know, so you could get tickets that you would have had to wait years and years on a waiting list for. ;) ;)
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Posted · Report post

Status. And maybe a refrigerator magnet

lol. Worst reasoning ever. The status part. The magnet part is awesome. Well, if it doesn't have Namath on it.
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lol. Worst reasoning ever. The status part. The magnet part is awesome. Well, if it doesn't have Namath on it.

Don't forget the $20 team ballcap with your section and name stitched on the back. That's also a perk.

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Furthrer, the IRS DOES NOT consider the PSL an investment vehicle. If it loses value when you walk away or sell it, you cannot claim that as a capital loss as you can with investments like stocks or real estate that are realized losses.

Woody, f___king us all again.

As I type this, with the PSL bill due November 1st, we are considering strongly walking away.

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Don't forget the $20 team ballcap with your section and name stitched on the back. That's also a perk.

Fuuuuuck. You just sold me. PSL, here I come!
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But won't a half empty stadium will look bad when the Jets host all those home playoff games?

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Yes they should have never been looked at as an investment

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Also, LOLCURB

Don't worry, he'll be the one laughing when the Jets win 11 straight and go 13-3, just as he predicted. His PSL's will also be a good investment then!

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But won't a half empty stadium will look bad when the Jets host all those home playoff games?

That was the most ridiculous part of the argument. The money you save by not buying 2 preseason games in one season alone, will be enough to cover the costs above face value for any playoff game you wanted to go to. If they existed, of course.

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Don't worry, he'll be the one laughing when the Jets win 11 straight and go 13-3, just as he predicted. His PSL's will also be a good investment then!

JOLTIN JOE!!!

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I wonder if Woody will get a bailout.

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BRENDAAAAA!!!!!

HELLOOOOO handsome....how are you??? Take a road trip to SEATTLE with me~~~

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Lol psls are like the timeshare speeches you get going to Mexico. What a scam they are and can't believe so many suckers bought in.

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$50 in heaven how about the Lower EZ 1/2 price cut, that was the dick move.

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My seats are epic and the good memories outweigh the bad, I'm happy and not dumb enough to judge a long term plan on 3 years.

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Posted (edited) · Report post

Whats the point in even buying PSLs? Unless the team is a sellout every single game..

Inspirational voicemails

Edited by SayNoToDMC
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Yes they should have never been looked at as an investment

Maybe they wouldn't have been if the Jets hadn't sold them as an investment.

I'm thinking class action lawsuit. Fraud.

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