125 replies to this topic

[Matt39]

Its tough to show up 8 Sundays a year, pay what you're paying and watch a team not score points.

[Lil Bit Special]

Its tough to show up 8 Sundays a year, pay what you're paying and watch a team not score points.

dont forget the 2 preseason games!

[unbanmadmike1]

Its tough to show up 8 Sundays a year, pay what you're paying and watch a team not score points.

What the hell did people expect?

[denden29]

Hopefully someone has a copy of the contract, because the PSL contract on the Jets website states that the full PSL payment would be due in full if there is a default.

http://www.newyorkje...on-club-psl.pdf

That is how it was explained to me but the Jets could I have been lying to me. Wouldn't surprise me but I told the Jets I wasn't going to give any info on myself (finances) and they said nothing was needed if you don't pay they keep your money and re-sell the PSL. Again they are prone to lie so it wouldn't shock me if they did.

Edited by denden29, 07 January 2013 - 04:39 PM.

[Lil Bit Special]

That is how it was explained to me but could I have been lied to by the Jets. Wouldn't surprise me but I told the Jets I wasn't going to give any info on myself (finances) and they said nothing was needed if you don't pay they keep your money and re-sell the PSL. Again they are prone to lie so it wouldn't shock me if they did.

I wouldnt doubt they did lie. Those salespeople needed to sell. But the truth is always in the final contract.

[JetsFanInDenver]

and even if the salespeople selling the PSL's to fans did lie to them about anything, like calling this an "investment" the Jets absolve themselves of any wrongdoing and most likely would have themselves well protected if this ever goes to an arbitrator, which it will since thats where this would be handled, according to the PSL contract.

I am no lawyer and i do not play one on TeeVee.

But whenever there is clause of arbitration involved in a contract you should have a choice to NO to arbitration in the contract itself. It's a choice. That's how it works in most contracts (not PSL related) i have had occassion to go through. With accepting arbitration you may be signing away lot of your legal rights. That's the way i understand it.

[unbanmadmike1]

Hopefully someone has a copy of the contract, because the PSL contract on the Jets website states that the full PSL payment would be due in full if there is a default.

http://www.newyorkje...on-club-psl.pdf

Either a 3rd party does the financing or the Jets factor it the second you sign the paperwork. There is no way you'd get off the hook for just not paying.

[Lil Bit Special]

I am no lawyer and i do not play one on TeeVee.

But whenever there is clause of arbitration involved in a contract you should have a choice to NO to arbitration in the contract itself. It's a choice. That's how it works in most contracts (not PSL related) i have had occassion to go through. With accepting arbitration you may be signing away lot of your legal rights. That's the way i understand it.

thats why Im hoping someone has and is willing to post their signed, final PSL contract. From the contract they have online, its a pretty sh!tty contract for the buyer.

[Lil Bit Special]

Either a 3rd party does the financing or the Jets factor it the second you sign the paperwork. There is no way you'd get off the hook for just not paying.

Fans are hoping the Jets get embarrassed by the PSL exodus and waive the full payment so they dont get bad press from it.





Good luck with that!

[Lil Bit Special]

[denden29]

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.

http://www.newyorkje...tadium/faq.html

[denden29]

I wouldnt doubt they did lie. Those salespeople needed to sell. But the truth is always in the final contract.

http://www.newyorkje...tadium/faq.html

I also posted but they say the former PSL holder is not liable for any additional monies.

Edited by denden29, 07 January 2013 - 04:52 PM.

[Lil Bit Special]

http://www.newyorkje...tadium/faq.html

I also posted but they say the former PSL holder is not liable for any additional monies.

Not according to the PSL contract:

(z) Licensee’s obligation to pay the outstanding balance of the PSL Fee, if any, shall be accelerated, making the full outstanding balance immediately due and payable. JSD thereafter will have the right, but not the obligation, to relicense the forfeited PSL. Any amounts JSD receives from such relicensing shall not reduce Licensee’s obligations to JSD or entitle Licensee to reimbursement or recovery of any amounts paid under this PSL Agreement.

[rowonejetfan]

I love my seats and my PSLs are paid off. I regularly sell games at a profit and my PSLs trade at a profit in the secondary.

Guess what that is not a news story. 50% of PSL seats in any section were the bottom 50% of seats.

Did someone who bought LLEZ, middle of aisle, drip-line seats think he was going to ever sell for a profit the psl or seats.

Many sections such as club seats, ticket prices are way overpriced. Many seats such as LLEZ, LL corners, Mezz B the view is terrible.

Unless you are LLGL, LLSL towards the 50 or lower row or Mezz A low row corner, aisle seats toward the 50 side your seats are a commodity that will only sell at the lowest price.

I say 10,000 PSL seats were moneymakers the rest was a bad investment the day you bought them. Buyer Beware

[denden29]

Not according to the PSL contract:

(z) Licensee’s obligation to pay the outstanding balance of the PSL Fee, if any, shall be accelerated, making the full outstanding balance immediately due and payable. JSD thereafter will have the right, but not the obligation, to relicense the forfeited PSL. Any amounts JSD receives from such relicensing shall not reduce Licensee’s obligations to JSD or entitle Licensee to reimbursement or recovery of any amounts paid under this PSL Agreement.

Well I'm not going to go through a boring contract since I'm fine with my PSL but all I can say is what I was told matches what is on the web-site but I can check with the account people and find out for sure.

[BleedGreen314]

I love my seats and my PSLs are paid off. I regularly sell games at a profit and my PSLs trade at a profit in the secondary.

Guess what that is not a news story. 50% of PSL seats in any section were the bottom 50% of seats.

Did someone who bought LLEZ, middle of aisle, drip-line seats think he was going to ever sell for a profit the psl or seats.

Many sections such as club seats, ticket prices are way overpriced. Many seats such as LLEZ, LL corners, Mezz B the view is terrible.

Unless you are LLGL, LLSL towards the 50 or lower row or Mezz A low row corner, aisle seats toward the 50 side your seats are a commodity that will only sell at the lowest price.

I say 10,000 PSL seats were moneymakers the rest was a bad investment the day you bought them. Buyer Beware

Thank you for your perspective. Good points.

[BleedGreen314]

Well I'm not going to go through a boring contract since I'm fine with my PSL but all I can say is what I was told matches what is on the web-site but I can check with the account people and find out for sure.

You're going to give that poor account executive a heart attack asking that.

[Bleedin Green]

and even if the salespeople selling the PSL's to fans did lie to them about anything, like calling this an "investment" the Jets absolve themselves of any wrongdoing and most likely would have themselves well protected if this ever goes to an arbitrator, which it will since thats where this would be handled, according to the PSL contract.

I'm not sure what anyone thinks they'd be able to get by citing the Jets referring to it as an investment. It would be easy enough for them to defend that position, considering the value of the PSL could potentially increase. In that case, the owner has the freedom to sell the PSL at a profit, if they can find a buyer. Making an investment in no way guarantees any sort of return to ever be seen on that investment. That said, the point can be made that it wasn't a good investment, that's for sh*t sure.

[Lil Bit Special]

Well I'm not going to go through a boring contract since I'm fine with my PSL but all I can say is what I was told matches what is on the web-site but I can check with the account people and find out for sure.

You dont need to go through a boring contract, I already posted the important information. Basically the contract states that:

A) If you dont pay, they will demand payment in full on default.

B- It doesnt matter what is written or said elsewhere, the contract sets the terms of the PSL.

Hopefully someone has a copy of the contract, because the PSL contract on the Jets website states that the full PSL payment would be due in full if there is a default.

http://www.newyorkje...on-club-psl.pdf
Upon termination pursuant to this Section 9, (w) Licensee will forfeit all monies previously paid to JSD hereunder, (x) Licensee will forfeit the PSL for the current (or upcoming) NFL season and all NFL seasons that follow, (y) JSD and its affiliates will have no further liability or obligation to Licensee, and (z) Licensee’s obligation to pay the outstanding balance of the PSL Fee, if any, shall be accelerated, making the full outstanding balance immediately due and payable

This PSL Agreement (including the Confirmation) contains the entire agreement of the parties with respect to the matters provided for herein, and supersedes any written or oral agreement, instrument, application, promotional material, brochure, website information, or other representation previously made, distributed or entered by or on behalf of them or their respective affiliates with respect to those matters. JSD HAS NOT MADE, AND LICENSEE ACKNOWLEDGES THAT IT HAS NOT RELIED ON, ANY REPRESENTATIONS ABOUT THE TERMS OF THIS PSL AGREEMENT, EXCEPT AS EXPRESSLY SET FORTH IN THIS PSL AGREEMENT. No amendment or modification to this PSL Agreement shall be effective unless the amendment or modification is in writing and signed by both JSD and Licensee.

and even if the salespeople selling the PSL's to fans did lie to them about anything, like calling this an "investment" the Jets absolve themselves of any wrongdoing and most likely would have themselves well protected if this ever goes to an arbitrator, which it will since thats where this would be handled, according to the PSL contract.

I'll even give you the relevant sections:

Section 9- Defaults
and
Section 11 - Miscellaneous- Part 3

Edited by Lil Bit Special, 07 January 2013 - 05:06 PM.

[denden29]

You're going to give that poor account executive a heart attack asking that.

They probably deserve it. The Jets tried to get two payments out of me in one year. I was told I’d get a ½ year payment in March 2010 and the rest in November then each November for 4 years but the March bill was for a full payment.

I called and asked why the guy said since I bought the PSL in December I was a payment behind everyone else and had to catch up. I said very angrily that was other people’s problems and I was told I’d have to pay half along with other choice words.

He was kind enough to waive the first payment, what a wonderful guy, so it wouldn’t shock me if they are lying again even on their own web site.