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AlToon88

A word to the wise on PSL's

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Jets did not use dynamic pricing in pricing PSL sections like the Yankees or Nets do. For instance.section 142 10K PSL row one seat one on the 28 yard line right by 20K PSLs was priced the same as last row in section 142 10K PSL on ten yard line by lower priced 7.5K PSLs.

In secondary marrket of course tons of PSLs will sink in value as must owners paid too much in first place.

In the 142 example, most likely Jets Underpriced 1/3 of seats, correctly priced 1/3 of seats and Overpriced 1/3 of seats. Hence in 142 you dont see people within ten seats of aisle by 140 or in first ten rows walking away. But folks within ten seats of 143 in high rows or high rows dead in middle may walk away.

Why is that? Look at secondary market prices. In a given section I see rows 1-5 and aisle seats near higher priced sections regularly go for $100 above face on stubhub. Meanwhile junky back row seats in the middle once you factor in stubhub fees and preseason, you paid for a PSL for the right to the worst seats in stadium and right to lose money.

Did anyone in their right mind think LLEZ dead center middle of aisle seats at dripline with folks from Mezz A spilling Beer on their heads would be a money maker, Yet those rows sold out. Did anyone think last row TC corners one seat from LLEZ seats wtih a PSL that was like 60% less would be a money maker, nope none did. Mezz Clubs were a crazy PSL, in old stadium hard to sell those seats at $115 and now that ticket prices have tripled with a PSL who wants it.

Bottom line majority of people I know who are super super happy with their PSLs are folks in LLEZ, LLTC, LGL or LSL who bought pre-price cut. They picked out best 5% of seats in section and since sections were overpriced had their pick. They got extremely lucky when jets retroactively reduced prices.

But that is screwed up part Luck played such a factor, folks who bought in Mezz A, LLEZ corners, LL prime got screwed with price reductions. They wasted their senority buying seats in sections like that. Remember, LLEZ corners and Mezz A corners were the hot seats to pick when LGL was 10K and LSL was 15k with a much higher ticket price. They redued the ticket prices in LGL and LSL at same time as PSL. Friend I tailgate with bought six seats in LGL in first three rows right next to LSL, right on aisle starting ten yard line.

He was kicking himself as he bought them when they were 10K psls and a $145 ticket. When prices got reduced to 7.5K and $130 he got bailed out. He can sell games for like $300 each. Ten yard line row 3 aisle seats with a $130 ticket price he joked I could sell them all day long. He laughs that row 4 UD prime behind him had a ticket only $5 bucks less and is like 60 rows behind him.

Jets issue was you cant sell best 10% of seats to 100% of people. PSL reps worked hard to sell them all. Really it is just the bottom 5% of seats that are god awful and those are the ones that will default.

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What you're all forgetting is that this is a "personal seat license". Which means you personally are licensed to sit in it. So long as you aren't trying to sit in it when Giants fan also has a "personal seat license" to the same seat. Or when there's a concert or a...SUPERBOWL! and the tickets to your personally licensed seats are sold on the open market without your notification. Otherwise you have a personal seat license which people who buy tickets game by game don't have. So those guys are actually unlicensed spectators. Which, if you ask me, makes them deportable.

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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.

I am not disagreeing with you. But if the Jets were to have a good season, a real big 13 and 3 kind of season with two home playoff games and a Super Bowl win...the fees for that year (tickets to 8 games and 2 playoff games) would be more than the same seat with a PSL for the year with the preseason.

But that would be a one year loss. And that exact scenario I described has never happened, lol. So I am not waiting up for it.

Me? I am a creature of habit so I am happy with my $2,500 PSL because having the same seats each week is important to me.

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

Before you take a trip with Tom we just have to make sure that you have a prescription plan.

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I am not disagreeing with you. But if the Jets were to have a good season, a real big 13 and 3 kind of season with two home playoff games and a Super Bowl win...the fees for that year (tickets to 8 games and 2 playoff games) would be more than the same seat with a PSL for the year with the preseason.

And if I hosted a thirty lesbian orgy in my living room, I could charge $400 bucks per seat on my couch to watch it.

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I am not disagreeing with you. But if the Jets were to have a good season, a real big 13 and 3 kind of season with two home playoff games and a Super Bowl win...the fees for that year (tickets to 8 games and 2 playoff games) would be more than the same seat with a PSL for the year with the preseason.

But that would be a one year loss. And that exact scenario I described has never happened, lol. So I am not waiting up for it.

Me? I am a creature of habit so I am happy with my $2,500 PSL because having the same seats each week is important to me.

The same seats argument is the only one that really stands up.

Ultimately, as you say, us "non owners" could suffer a bad year (which we'd gladly pay for) but that's more than made up for by the many years that they're even just pretty good. A lot better when they stink, which, lets be honest...

Then again, your girlfriend's father could have unreal ticket connections that land you 5 rows off the field on the 45 yard line for free, but hey........

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You overpaying for a game or 2 is a big part of the Jets reasoning for their ticket prices. When they they look at the sale prices on the secondary markets, which they now also get a piece of as well, they assumed their ticket prices were teasonable. F'ing the real fans.

This was the exact argument we used not to buy PSL's, and give up our season tickets that had been in our family for 30 plus years.

It has turned out to be a very wise decision.

Not only did we not pay the PSL, but we don't buy preseason, and we have gotten many of the games below face value.

Plus, when they are 5-9 we can chose not to buy tix for freezing games in late December.

Now with the savings, I have no problem paying a big premium when we get a home playoff game every 15 years if we are lucky.

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You overpaying for a game or 2 is a big part of the Jets reasoning for their ticket prices. When they they look at the sale prices on the secondary markets, which they now also get a piece of as well, they assumed their ticket prices were teasonable. F'ing the real fans.

I have not paid a dollar over face value for a ticket since we moved to the new stadium, and in fact have paid less for almost every game so far for comparable seats to our old season tickets.

If every 15 years when we have a home playoff game, I need to pay a premium for the tickets, so be it, I and many others will still have avoided the ridiculous PSL, and ridiculous pre-season games.

My family had 4 season tickets for over 30 years, to charge us a PSL after paying for a complete crap product for most of those years, including pre-season tickets, was a complete slap in the face.

I hardly think overpaying for a game every 15 years is going to change ticket prices.

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You overpaying for a game or 2 is a big part of the Jets reasoning for their ticket prices. When they they look at the sale prices on the secondary markets, which they now also get a piece of as well, they assumed their ticket prices were teasonable. F'ing the real fans.

I've learned so much on JN about who is a real fan and who is not. New to the list today:

1. Poor People

2. Fiscally Responsible People

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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~

Bren is the coolest person on this forum by a mile!

even cooler than me!!!!

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Has anyone defaulted?? what is the result? Does it affect your credit if you default and will the jets come after you for remaining balance?

I am not sure, but would love to know the answers to that as well.

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Of course it effects your credit.  You entered into a contract to pay off a note and if you default that is a huge black mark on your credit rating.  I don't know how old you are, but mortgages are tough enough to get with good credit, good luck with a default on your record. Basically, the cost of defaulting will be higher than the cost of a PSL.  The big question is how hard the Jets pursue this.  From a legal perspective they win hands down, but it will be a public relations nightmare.    

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Of course it effects your credit.  You entered into a contract to pay off a note and if you default that is a huge black mark on your credit rating.  I don't know how old you are, but mortgages are tough enough to get with good credit, good luck with a default on your record. Basically, the cost of defaulting will be higher than the cost of a PSL.  The big question is how hard the Jets pursue this.  From a legal perspective they win hands down, but it will be a public relations nightmare.

What if you took tickets out in the name of a PSL that you own for a fan site that you run. How would that impact a person who was in that situation?

Totally hypothetical situation that I am throwing out there btw. I don't know anyone in that situation. :)

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Of course it effects your credit.  You entered into a contract to pay off a note and if you default that is a huge black mark on your credit rating.  I don't know how old you are, but mortgages are tough enough to get with good credit, good luck with a default on your record. Basically, the cost of defaulting will be higher than the cost of a PSL.  The big question is how hard the Jets pursue this.  From a legal perspective they win hands down, but it will be a public relations nightmare.    

 

forgot to quote you see above!

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What if you took tickets out in the name of a PSL that you own for a fan site that you run. How would that impact a person who was in that situation?

Totally hypothetical situation that I am throwing out there btw. I don't know anyone in that situation. :)

Hypothetically speaking, you, I mean they should have swabbed someones back porch in order to get press passes and then the hypothetical PSL would have been unnecessary. 

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Hypothetically speaking, you, I mean they should have swabbed someones back porch in order to get press passes and then the hypothetical PSL would have been unnecessary. 

 

I thought that ship had sailed, then I realized that ship actually sank.

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I just spoke with a manager they said it WILL NOT affect my credit if I default!  They may or may not go after you for the remaining balance!

Think if you apply for a mortgage or a car loan and explain the situation nobody is going to be all that upset about a PSL default.And any NFL team that goes after it's fans for specific performance on a PSL contract is going to face an epic sheetstorm of bad PR.

Edited by Bugg

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Think if you apply for a mortgage or a car loan and explain the situation nobody is going to be all that upset about a PSL default.And any NFL team that goes after it's fans for specific performance on a PSL contract is going to face an epic sheetstorm of bad PR.

 

 

I dont think they will face an epic sh*t storm of bad PR.  There are lots of people who believe you signed up for a PSL, you deserve whatever crap happens to you if you reneg on the contract.  Thats whats wrong with people...  they dont want to be taken at  their word and want to weasel out of their contract because theyre unhappy the team sucks. They dont want to be held accountable for what they do.  And when they dont get their way??  Whine to the media that the big bad Jets want their money.

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I dont think they will face an epic sh*t storm of bad PR.  There are lots of people who believe you signed up for a PSL, you deserve whatever crap happens to you if you reneg on the contract.  Thats whats wrong with people...  they dont want to be taken at  their word and want to weasel out of their contract because theyre unhappy the team sucks. They dont want to be held accountable for what they do.  And when they dont get their way??  Whine to the media that the big bad Jets want their money.

Suing your own  fans wlll be a really bad media story, even worse if you're cutting players and salary with a crappy 2013 season on the way.  Most people simply won't pay another dime and don't expect to get anything back. It  was a scam in favor of the Jets form the beginning.

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I dont think they will face an epic sh*t storm of bad PR.  There are lots of people who believe you signed up for a PSL, you deserve whatever crap happens to you if you reneg on the contract.  Thats whats wrong with people...  they dont want to be taken at  their word and want to weasel out of their contract because theyre unhappy the team sucks. They dont want to be held accountable for what they do.  And when they dont get their way??  Whine to the media that the big bad Jets want their money.

 

Yeah, the Jets could easily get away with it if they really wanted to and the media wouldn't care less.  Those who bought PSL's entered into a contract and failing to pay it is no different than anyone who refuses to pay their car payment or their mortgage.  In those cases the banks aren't exactly like "oh, you don't want to pay for this anymore?  ok, we understand, don't sweat it."  When you consider how much more important those things are to people's lives, the Jets have even less reason to give their customers leeway than anyone handing out loans for essentials like that.  There was nothing driving anyone to buy a PSL outside of their own desire to have it, it was and is a pure luxury.  It sucks for those people that they chose to make what they now consider to be a bad investment, but that was still their decision.

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I dont think they will face an epic sh*t storm of bad PR.  There are lots of people who believe you signed up for a PSL, you deserve whatever crap happens to you if you reneg on the contract.  Thats whats wrong with people...  they dont want to be taken at  their word and want to weasel out of their contract because theyre unhappy the team sucks. They dont want to be held accountable for what they do.  And when they dont get their way??  Whine to the media that the big bad Jets want their money.

 

I hear what you are saying but I am not trying to weasel out of my contract. I did sign up for a contract and I should fulfill it. That being said, the people that gave me my mortgage don't frisk me as I enter my house, yell at me for walking the wrong way on my sidewalk or parking in a particular spot, and they don't threaten me when I'm late on a payment. In fact when I was having trouble paying some years back they called me and asked me sincerely what they could do to help me retain the mortgage with them and arrangements were made. I am paying the Jets and their staff for the privilege of treating me like a jerk, like they own me. On top of that they are playing some incredibly horrible football and these tickets are worth almost nothing.

 

Anyway, I'm stuck with a hard decision here. I would like to keep my PSL's as I do like going to the games but I can go to the same 5 games for a quarter of the price off of stub hub. For people wondering what the Jets stance is on this, here is an excerpt from the letter I received last week, with tomorrow being my cutoff date for defaulting.

 

As you have not made payment, this letter serves as Jets Stadium Development's ("JSD") notice of default ....if you do not cure this default by making payment withen ten days of the date of this letter, your rights under the Agreement will terminate, in which case:

  • JSD will retain all monies you have paid to date related to your PSL
  • Your obligation to pay the outstanding balance of the PSL and any liability under the Club Seat License Agreement shall be accelerated, making the full outstanding balance immediately due and payable, which JSD intends to fully enforce and collect
  • YOU WILL HAVE NO FURTHER RIGHTS UNDER THE AGREEMENT (i.e., you will not have the right to purchase tickets to Jets games at MetLife Stadium); and
  • JSD will have no further obligation to you for the above referenced account

 

So, take the money I've paid so far, sue for the remaining balance, and ban me from buying Jets tickets....awesome.

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