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PSL's - Would you walk away?


Lizard King
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You don't buy season tickets for a team expecting them to be good every year, you have to assume down years and if you don't, you're being unrealistic. I didn't buy a PSL because I didn't think it was worth it/a good investment however if you did and you sunk the money into it for the first few years, I don't see whats changed enough for you to walk away unless your financial position changes drastically.

They want to walk away because they are whiny little c#nts who throw a hissy fit over their sh!tty team.

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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

Who are you?? Woody's personal assistant??? My contract does not state that! The Jets must have changed that and posted it on their website to scare fans away from walking away! They are very sneaky! Many I know are in fact walking away because they cannot sell their PSL on the open market for the amount that they still owe, never mind breaking even. The ONLY penalty is that the PSL holder loses whatever they paid already, they cannot buy tickets and cannot get future tickets. THAT IS IT!! So if you're planning to walk away GO RIGHT AHEAD! It's the smart thing to do, don't let them scare you!!

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You don't buy season tickets for a team expecting them to be good every year, you have to assume down years and if you don't, you're being unrealistic. I didn't buy a PSL because I didn't think it was worth it/a good investment however if you did and you sunk the money into it for the first few years, I don't see whats changed enough for you to walk away unless your financial position changes drastically.

Sadly if you were making an "investment" you would be better off buying Giants PSLs. I orginally joked that someone would be better off as a Jets fan buying the same section PSL at same price for Giants selling those games at a profit and going online at stub hub and buying our seats at a discount. Sadly it worked out that way.

So much so that my daughter asked me a few weeks ago, why didnt you buy a pair of Jets AND Giants PSLs that way you could still take us to some games in Nov and Dec each year instead of just Sept and Oct each year. Ouch Ouch Ouch. I only could say thanks for your input.

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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

You are 100% correct! This is what it says in the contract! If the Jets have anything different on their website now, it's because they changed it to frighten fans who want to walk away. They're worried about this becoming widespread... and you know what.... they're RIGHT!

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You don't buy season tickets for a team expecting them to be good every year, you have to assume down years and if you don't, you're being unrealistic. I didn't buy a PSL because I didn't think it was worth it/a good investment however if you did and you sunk the money into it for the first few years, I don't see whats changed enough for you to walk away unless your financial position changes drastically.

don't dispute any of this -- only thing I was pointing out was that the "investment" argument to hang onto your PSL makes no sense. it's an entertainment expense; no more, no less.

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This just seems like overreacting to a bad season. If you thought it was a good idea to buy a PSL 2 years ago, nothing should have changed.

I get waht you are saying, but once they lowered the upper deck to $50 a seat, ALL BETS ARE OFF! By doing that they de-valued all of our seats. Try selling a game on Stub-hub now. Why would someone pay a premium for your seats when they can get 50 buck seats on stubhub or ticket exchange. They are screwing us all over, we just need to realize it!

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I get waht you are saying, but once they lowered the upper deck to $50 a seat, ALL BETS ARE OFF! By doing that they de-valued all of our seats. Try selling a game on Stub-hub now. Why would someone pay a premium for your seats when they can get 50 buck seats on stubhub or ticket exchange. They are screwing us all over, we just need to realize it!

Those 50 dollar seats are awful though.
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You are 100% correct! This is what it says in the contract! If the Jets have anything different on their website now, it's because they changed it to frighten fans who want to walk away. They're worried about this becoming widespread... and you know what.... they're RIGHT!

If that's really the case then it probably means that at some point they actually changed the contract language, and that all of the new PSL contracts are going to have that change in there, in order to avoid having people walking on PSLs in the future. Only having that version of the contract up on the site would probably be more in line with what you're saying, hoping that it might scare some folks off.

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You are 100% correct! This is what it says in the contract! If the Jets have anything different on their website now, it's because they changed it to frighten fans who want to walk away. They're worried about this becoming widespread... and you know what.... they're RIGHT!

Thats really interesting. Would you be willing to post a picture of your contract in the thread?

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I knew this was coming... Here is my post from Oct 11, 2012....

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.stadiumps...-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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I would consult a lawyer, not the jets to have it clarified if someone is seriously considering walking away from their PSL's.

The Jets cannot force anyone to pay the PSL in full no matter what they signed. Under contracts law if there is a breach the party who is damaged, the Jets, can only get compensation they lose because of the breach so if they take back your PSL and then sell it there is no way the former PSL owner would be liable for any damages cause the Jets were not hurt in any manner, in fact they benefited because they got the money originally and sold the PSL for the same amount. They would have to show that the breach cost them and only full payment could make them whole.

So if a person defaults pays the entire PSL fee then the Jets sell that PSL for the same amount how were they damaged? They actually benefited beyond the scope of the contract.

I think people are under the mistaken impression that just because you sign something that “Burden of Proof” is now on you to prove otherwise. If the contract read the Jets get your house if you default this would be unconscionable and would be voided. A verbal agreement is just as binding and the burden of proof is the same regardless of a signature or not.

The facts are the Jets have verbally stated and on their web site that they are choosing to exercise the option of revoking your PSL if you default and keeping the money paid. Why would anyone default if they know they had to pay for the PSL anyway, this is not going to happen, so regardless of the contract I would default and not buy the tickets if I didn’t want them..

The Jets don’t have time or resources to try and battle the payment clause in the PSL agreement, probably just a standard thing anyway, but the fact is they would lose this argument.

Edited by denden29
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The Jets cannot force anyone to pay the PSL in full no matter what they signed. Under contracts law if there is a breach the party who is damaged, the Jets, can only get compensation they lose because of the breach so if they take back your PSL and then sell it there is no way the former PSL owner would be liable for any damages cause the Jets were not hurt in any manner, in fact they benefited because they got the money originally and sold the PSL for the same amount. They would have to show that the breach cost them and only full payment could make them whole.

I think people are under the mistaken impression that just because you sign something that “Burden of Proof” is now on you to prove otherwise. If the contract read the Jets get your house if you default this would be unconscionable and would be voided. A verbal agreement is just as binding and the burden of proof is the same regardless of a signature or not.

The facts are the Jets have verbally stated and on their web site that they are choosing to exercise the option of revoking your PSL if you default and keeping the money paid. Why would anyone default if they know they had to pay for the PSL anyway, this is not going to happen, so regardless of the contract I would default and not buy the tickets if I didn’t want them..

The Jets don’t have time or resources to try and battle the payment clause in the PSL agreement, probably just a standard thing anyway, but the fact is they would lose this argument.

There is no way the Jets are just holding on to and servicing the PSL financing. They factored the amount the second you buy the PSL so whoever bought the account will clearly have means to come after you for the balance of the PSL. If they do or not is up to them or the jets might have a buyback agreement for defaults or something along those lines.
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Who are you?? Woody's personal assistant??? My contract does not state that! The Jets must have changed that and posted it on their website to scare fans away from walking away! They are very sneaky! Many I know are in fact walking away because they cannot sell their PSL on the open market for the amount that they still owe, never mind breaking even. The ONLY penalty is that the PSL holder loses whatever they paid already, they cannot buy tickets and cannot get future tickets. THAT IS IT!! So if you're planning to walk away GO RIGHT AHEAD! It's the smart thing to do, don't let them scare you!!

No. I dont work the the Jets! :rl:

Just trying to post some info for people who are thinking of walking away. the link I posted is the only one the Jets have online (and it was posted in March 2011 well after PSL's were sold) and I have never seen a signed contract, I cant tell anyone what they should or shouldnt do.

As Ive said MANY times in this thread, if someone has a copy of the contract they signed, I and the rest of us would love to see it so people know exactly what they are getting into.

If you have a copy of a signed contract, please post it. You can redact any personal info you wish.

Im not trying to tell anyone what they should or shouldnt do. But if someone is thinking of abandoning their PSL, they better consult a lawyer first. Dont just walk away from a signed contract and think you wont be held to the terms of the contract.

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The Jets cannot force anyone to pay the PSL in full no matter what they signed. Under contracts law if there is a breach the party who is damaged, the Jets, can only get compensation they lose because of the breach so if they take back your PSL and then sell it there is no way the former PSL owner would be liable for any damages cause the Jets were not hurt in any manner, in fact they benefited because they got the money originally and sold the PSL for the same amount. They would have to show that the breach cost them and only full payment could make them whole.

So if a person defaults pays the entire PSL fee then the Jets sell that PSL for the same amount how were they damaged? They actually benefited beyond the scope of the contract.

I think people are under the mistaken impression that just because you sign something that “Burden of Proof” is now on you to prove otherwise. If the contract read the Jets get your house if you default this would be unconscionable and would be voided. A verbal agreement is just as binding and the burden of proof is the same regardless of a signature or not.

The facts are the Jets have verbally stated and on their web site that they are choosing to exercise the option of revoking your PSL if you default and keeping the money paid. Why would anyone default if they know they had to pay for the PSL anyway, this is not going to happen, so regardless of the contract I would default and not buy the tickets if I didn’t want them..

The Jets don’t have time or resources to try and battle the payment clause in the PSL agreement, probably just a standard thing anyway, but the fact is they would lose this argument.

Dude.I dont disagree with anything you say. All Im trying to say to those people who are thinking of walking away from their PSL to understand the terms of their PSL contract BEFORE they do anything. Im not here for a discussion on contract law and whatnot. Im here telling people to THINK BEFORE THEY LEAP.

I'll say it one more time- IF YOU ARE CONSIDERING ABANDONING YOUR PSL, CONSULT A LAWYER FIRST!

And if you think the Jets will not pursue remedies stated in a contract, then you are being naive. If the contract states they are owed the full amount, you can bet your ass they will pursue it. I hope Toon is right and the first round of PSL's didnt have that in the contract.

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No. I dont work the the Jets! :rl:

Just trying to post some info for people who are thinking of walking away. the link I posted is the only one the Jets have online (and it was posted in March 2011 well after PSL's were sold) and I have never seen a signed contract, I cant tell anyone what they should or shouldnt do.

As Ive said MANY times in this thread, if someone has a copy of the contract they signed, I and the rest of us would love to see it so people know exactly what they are getting into.

If you have a copy of a signed contract, please post it. You can redact any personal info you wish.

Im not trying to tell anyone what they should or shouldnt do. But if someone is thinking of abandoning their PSL, they better consult a lawyer first. Dont just walk away from a signed contract and think you wont be held to the terms of the contract.

Jets will have trouble enforcing contract as normally in a a collateralized loan, be it a car, house, boat etc the funds paid to date on loan and collateral will be kept. Perhaps legal fees can be recovered. Jets going after non collateralizd funds will be difficult.

Plus with electronic signatures, throwaway emails, no credit checks, and fact spouse did not authroize the transaction it is a tough sell.

Very briefly early in my career I sold some stuff for a company on installment plans. We always tried to get both husband and wife to be present in person and sign contracts in front of us.

This whole jet account manager set up is fairly iffy. Anyone could have clicked on the site. Best they can prove someone in my house clicked on the buy buttom. Maybe it was my daughters gerbil.

This is why bank closings are done in person and there are witnesses.

Heck two months ago I bought a new car. ALLY financial ask for driver licesnes for me and wife, I had to sign my signatures in person on multiple contracts, the car was titled with Ally as lienholder and they ran credit checks. And the GM employee in person witnessed my signature. And confirmed it.

Jets went so loosey goosey with this financing good luck. I also thought the Jets are acting as a defacto bank making loans and charging interest. They are not a bank. Manny the loan shark has about as much recourse through legal system.

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Jets will have trouble enforcing contract as normally in a a collateralized loan, be it a car, house, boat etc the funds paid to date on loan and collateral will be kept. Perhaps legal fees can be recovered. Jets going after non collateralizd funds will be difficult.

Plus with electronic signatures, throwaway emails, no credit checks, and fact spouse did not authroize the transaction it is a tough sell.

Very briefly early in my career I sold some stuff for a company on installment plans. We always tried to get both husband and wife to be present in person and sign contracts in front of us.

This whole jet account manager set up is fairly iffy. Anyone could have clicked on the site. Best they can prove someone in my house clicked on the buy buttom. Maybe it was my daughters gerbil.

This is why bank closings are done in person and there are witnesses.

Heck two months ago I bought a new car. ALLY financial ask for driver licesnes for me and wife, I had to sign my signatures in person on multiple contracts, the car was titled with Ally as lienholder and they ran credit checks. And the GM employee in person witnessed my signature. And confirmed it.

Jets went so loosey goosey with this financing good luck. I also thought the Jets are acting as a defacto bank making loans and charging interest. They are not a bank. Manny the loan shark has about as much recourse through legal system.

All well and good, you make good points. But I'd really love to see you post a redacted copy of your personal PSL agreement.

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Dude.I dont disagree with anything you say. All Im trying to say to those people who are thinking of walking away from their PSL to understand the terms of their PSL contract BEFORE they do anything. Im not here for a discussion on contract law and whatnot. Im here telling people to THINK BEFORE THEY LEAP.

I'll say it one more time- IF YOU ARE CONSIDERING ABANDONING YOUR PSL, CONSULT A LAWYER FIRST!

And if you think the Jets will not pursue remedies stated in a contract, then you are being naive. If the contract states they are owed the full amount, you can bet your ass they will pursue it. I hope Toon is right and the first round of PSL's didnt have that in the contract.

How do they prove anyone read that clause. I have PSLs it is an attachement you did not even have to really look at.

Remember, most scalpers etc bought these under dummy names. Jets would have let me make up a name, give them a po box and let me send them a money order.

Other think I noticed contract is void upon death. A few buddies bought PSLs in grandpas name. Smart move. Heck Jets would have let you buy in a dead persons name. Whole thing is set up bad. Plus even if you used your real name. Jets cant pick and choose who they enforce contract on.

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How do they prove anyone read that clause. I have PSLs it is an attachement you did not even have to really look at.

Remember, most scalpers etc bought these under dummy names. Jets would have let me make up a name, give them a po box and let me send them a money order.

Other think I noticed contract is void upon death. A few buddies bought PSLs in grandpas name. Smart move. Heck Jets would have let you buy in a dead persons name. Whole thing is set up bad. Plus even if you used your real name. Jets cant pick and choose who they enforce contract on.

None of this matters to me. Plain and simple- If someone has a PSL contract and is looking to get out, contact a lawyer to protect yourself and understand what youre going to be dealing with.

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Dude.I dont disagree with anything you say. All Im trying to say to those people who are thinking of walking away from their PSL to understand the terms of their PSL contract BEFORE they do anything. Im not here for a discussion on contract law and whatnot. Im here telling people to THINK BEFORE THEY LEAP.

I'll say it one more time- IF YOU ARE CONSIDERING ABANDONING YOUR PSL, CONSULT A LAWYER FIRST!

And if you think the Jets will not pursue remedies stated in a contract, then you are being naive. If the contract states they are owed the full amount, you can bet your ass they will pursue it. I hope Toon is right and the first round of PSL's didnt have that in the contract.

You are correct and I agree 100%. The Jets have screwed every one basically no matter what they do.

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Prior Agreement

This confirmation summarizes the terms of your purchase, from Jets Stadium Development, LLC ("JSD"), of a Personal Seat License ("PSL") for certain seats (in the quantity shown below) at the stadium being constructed in East Rutherford, New Jersey for use by the New York Jets football team. This confirmation is subject and subordinate to the terms and conditions of the Personal Seat License Agreement (the "PSL Agreement," attached hereto), which solely governs your purchase of the PSL. The tables below identify you as Licensee under the Personal Seat License Agreement and summarizes applicable terms and payment schedules. Because you are upgrading from seats covered by the PSL and/or Club Seat Agreements you agreed to on the date identified below (the "Prior Agreement"), this Confirmation supersedes the Prior Agreement, which (upon your agreement to this Confirmation) shall be of no further force and effect. JSD will apply any payments you made under the Prior Agreement towards your Initial Payment obligation under this Confirmation, provided however, you may be required to make additional payment(s) to satisfy the minimum Initial Payment obligation described below.

Below are the details of your PSL Fee payment plan, pursuant to the instructions you gave to your Stadium Sales Specialist. NOTE THAT THE PSL FEE DOES NOT INCLUDE THE COST OF TICKETS TO NEW YORK JETS PRE-SEASON, REGULAR SEASON, OR POST-SEASON HOME GAMES. LICENSEE MUST PURCHASE TICKETS FOR ALL PRE-SEASON AND REGULAR SEASON HOME GAMES TO MAINTAIN THE PSL; POST-SEASON HOME GAMES ARE OPTIONAL.

JETS STADIUM DEVELOPMENT, LLC

PSL SEAT CONFIRMATION

BINDING AGREEMENT: By signing this Confirmation, Licensee affirmatively has accepted the terms and conditions of the Confirmation and the PSL Agreement, making such agreement valid, binding and fully enforceable. If Licensee has not accepted the terms and conditions of the Confirmation and the PSL Agreement, and JSD has not received the Initial Payment, JSD shall be free to sell the PSL and all rights associated with it (including the right to buy tickets for the seats described above) to others and to retain all proceeds therefrom without obligation to Licensee.

Jets Stadium Development, LLC:

Licensee specifically acknowledges that the location of the Seats designated above, and as depicted in the diagrams used in JSD's marketing material (including, without limtation, on ww.NewJetsStadium.com, is based on a stadium that currently is under construction and, therefore, the precise seat location may vary.

Thad Sheely, EVP Stadium + Finance

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Prior Agreement

This confirmation summarizes the terms of your purchase, from Jets Stadium Development, LLC ("JSD"), of a Personal Seat License ("PSL") for certain seats (in the quantity shown below) at the stadium being constructed in East Rutherford, New Jersey for use by the New York Jets football team. This confirmation is subject and subordinate to the terms and conditions of the Personal Seat License Agreement (the "PSL Agreement," attached hereto), which solely governs your purchase of the PSL. The tables below identify you as Licensee under the Personal Seat License Agreement and summarizes applicable terms and payment schedules. Because you are upgrading from seats covered by the PSL and/or Club Seat Agreements you agreed to on the date identified below (the "Prior Agreement"), this Confirmation supersedes the Prior Agreement, which (upon your agreement to this Confirmation) shall be of no further force and effect. JSD will apply any payments you made under the Prior Agreement towards your Initial Payment obligation under this Confirmation, provided however, you may be required to make additional payment(s) to satisfy the minimum Initial Payment obligation described below.

Below are the details of your PSL Fee payment plan, pursuant to the instructions you gave to your Stadium Sales Specialist. NOTE THAT THE PSL FEE DOES NOT INCLUDE THE COST OF TICKETS TO NEW YORK JETS PRE-SEASON, REGULAR SEASON, OR POST-SEASON HOME GAMES. LICENSEE MUST PURCHASE TICKETS FOR ALL PRE-SEASON AND REGULAR SEASON HOME GAMES TO MAINTAIN THE PSL; POST-SEASON HOME GAMES ARE OPTIONAL.

JETS STADIUM DEVELOPMENT, LLC

PSL SEAT CONFIRMATION

BINDING AGREEMENT: By signing this Confirmation, Licensee affirmatively has accepted the terms and conditions of the Confirmation and the PSL Agreement, making such agreement valid, binding and fully enforceable. If Licensee has not accepted the terms and conditions of the Confirmation and the PSL Agreement, and JSD has not received the Initial Payment, JSD shall be free to sell the PSL and all rights associated with it (including the right to buy tickets for the seats described above) to others and to retain all proceeds therefrom without obligation to Licensee.

Jets Stadium Development, LLC:

Licensee specifically acknowledges that the location of the Seats designated above, and as depicted in the diagrams used in JSD's marketing material (including, without limtation, on ww.NewJetsStadium.com, is based on a stadium that currently is under construction and, therefore, the precise seat location may vary.

Thad Sheely, EVP Stadium + Finance

Thats the entire contract?

:rl:

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After yesterday's debacle, can say emphatically that having spoken to the guys I go with we will "endeavor" to get out of the PSL.Would still figure to go to a home game or 2. And Carolina is a great city to visit if the date works. But there is no way we could imagine reupping for this nonsense.

The universal reaction from anyone and everyone is this franchise took a huge step backward yesterday. Wonder what Woody Johnson's reaction will be when he sees how his season ticket holders respond.

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Anyone who bails out is essentially giving Woody more money as he will resell your psl for full value again while pocketing what you already paid. Not to mention if you bought PSL's you were assuming they were at least a 30 year plan and to bail out now after a 6-10 season is confounding.

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Anyone who bails out is essentially giving Woody more money as he will resell your psl for full value again while pocketing what you already paid. Not to mention if you bought PSL's you were assuming they were at least a 30 year plan and to bail out now after a 6-10 season is confounding.

Thjere is no market for these tickets. None. You can look at any number of old threads about the suckitude of the sh*tBox. But worse a team going 6-10 in 2012 and probably worse in 2013 is not going to sell out often.
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Bottom Line back in early 2009 A rated investment grade bonds during financial crisis were paying like 10% and investement grade munis 6%. Sadly if one bought 40K in PSLs back then they would have been better off buying a 30 year investment grade bond paying10% got 4k interest each year for 30 years and at end of stadium life get back the 40K and in effect have 4k to spend on Jets tickets on stubhub each year which would get you the absolute best seats in house. But we cant time travel and do that now.

Jets sold an intangilble of owning your own seats, being part of Jets. It was never a rational investment decision. Stocks, Bonds, Housing etc between December 2008 and Fall 2009 when Jets sold bulk of PSLs were all better places to put money burning a hole in your pocket. Pretty much at bottom of market during financial crisis every asset has doubled yet Jets PSLs were one of the few things to buy that lost Money since 2009

I have amazing seats I own. I take people to "my: seats, when stubhub folks sit next to me they all go wow these are your seats. I know the folks who go to games and they say hi to me. That is what Jets were selling. Like a time share in Maui. Problem now is no one brags anymore about it, so the wow and intangilble factor is gone. Giants still have it which is why PSL owners dont complain. When you say you have Giants PSLs people go wow that is great. Us Jet folks get laughed at sometimes.

Buying row one seats on stubhub is expensive even when Jets suck. They are not always even available. Plus many of you dont realize not all seats rose in price. Remember the old "Front Row Club" at the old stadium, first row and sometimes first two rows had a huge ticket price, something like $250 a game. Buying PSLs in the best of best parts of sections to this day is still a smart move. The Best seat is same price as worst seat in section in primary market and in secondary market you see huge price differences between best and worst in a section.

Jets for some odd reason, or just to be nice sold seats in row one from the goal line to the 25 yard line in new stadium as non-club seats with a low PSL and low ticket price. Section 109 for instance, sunny Jets side row one with a face value of $130!!!! What a deal.

Some stadiums called row one prem seating and charged fans extra. Look at Knicks or Nets. Jets were very nice to everyone in row one be it UD, Mezz or Sideline.

The Jets are doing the lords work for us row one folks. God Bless Them

Edited by rowonejetfan
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Bottom Line back in early 2009 A rated investment grade bonds during financial crisis were paying like 10% and investement grade munis 6%. Sadly if one bought 40K in PSLs back then they would have been better off buying a 30 year investment grade bond paying10% got 4k interest each year for 30 years and at end of stadium life get back the 40K and in effect have 4k to spend on Jets tickets on stubhub each year which would get you the absolute best seats in house. But we cant time travel and do that now.

Jets sold an intangilble of owning your own seats, being part of Jets. It was never a rational investment decision. Stocks, Bonds, Housing etc between December 2008 and Fall 2009 when Jets sold bulk of PSLs were all better places to put money burning a hole in your pocket. Pretty much at bottom of market during financial crisis every asset has doubled yet Jets PSLs were one of the few things to buy that lost Money since 2009

I have amazing seats I own. I take people to "my: seats, when stubhub folks sit next to me they all go wow these are your seats. I know the folks who go to games and they say hi to me. That is what Jets were selling. Like a time share in Maui. Problem now is no one brags anymore about it, so the wow and intangilble factor is gone. Giants still have it which is why PSL owners dont complain. When you say you have Giants PSLs people go wow that is great. Us Jet folks get laughed at sometimes.

Buying row one seats on stubhub is expensive even when Jets suck. They are not always even available. Plus many of you dont realize not all seats rose in price. Remember the old "Front Row Club" at the old stadium, first row and sometimes first two rows had a huge ticket price, something like $250 a game. Buying PSLs in the best of best parts of sections to this day is still a smart move. The Best seat is same price as worst seat in section in primary market and in secondary market you see huge price differences between best and worst in a section.

Jets for some odd reason, or just to be nice sold seats in row one from the goal line to the 25 yard line in new stadium as non-club seats with a low PSL and low ticket price. Section 109 for instance, sunny Jets side row one with a face value of $130!!!! What a deal.

Some stadiums called row one prem seating and charged fans extra. Look at Knicks or Nets. Jets were very nice to everyone in row one be it UD, Mezz or Sideline.

The Jets are doing the lords work for us row one folks. God Bless Them

Nobody was under illusions that this was an investment.In fact legally you cannot write off any such loss nor declare any game upon sale.

The market for time shares is also in the toilet.

Giants have objectively been a superior product.

Can probably buy something like where I sit on stubhub for a non-premium game for 40 cents on the dollar and no PSL fro a game or 2. And problem for Woody Johnson is except for tailgating the enitre gameday is a hassle.

Know for a fact that after the Giants' high command came back from their first trip to the JerryDome in Dallas they righlty came home spitting mad furious about how comparatively awful the sh*tBox is in every way.

We can all watch from our couch or the local bar.I don't have to be treated like a common criminal despite paying a small fortune as we alla re every time we enter that dump. And the NFL right now cannot blackout RedZOne. Further Woody Johnson is probably going to scratch and claw every way possible to keep every Jets game enough of a sellout to avoid a blackout.

Edited by Bugg
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They want to walk away because they are whiny little c#nts who throw a hissy fit over their sh!tty team.

I am sure you are joking here but that is a little over the line.

People are frustrated but please find a better way to make your point, instead of blasting an entire part of the fan base.

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You can write off the loss or PSLs in a lot of circumstances. Jets have a depriciation schedule set up for LLCs etc who buy them. And tons of scalpers who are true business with a profit and loss can deduct them.

Trouble is the for average fan the interest on loan can only be deducted vs. gains on ticket sales. Most folks dont report their gains as stubhub does not issue w-2s.

I wonder whether it is possible to donate a PSL to charity. That would be best write off move for a underwater one.

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Prior Agreement

This confirmation summarizes the terms of your purchase, from Jets Stadium Development, LLC ("JSD"), of a Personal Seat License ("PSL") for certain seats (in the quantity shown below) at the stadium being constructed in East Rutherford, New Jersey for use by the New York Jets football team. This confirmation is subject and subordinate to the terms and conditions of the Personal Seat License Agreement (the "PSL Agreement," attached hereto), which solely governs your purchase of the PSL. The tables below identify you as Licensee under the Personal Seat License Agreement and summarizes applicable terms and payment schedules. Because you are upgrading from seats covered by the PSL and/or Club Seat Agreements you agreed to on the date identified below (the "Prior Agreement"), this Confirmation supersedes the Prior Agreement, which (upon your agreement to this Confirmation) shall be of no further force and effect. JSD will apply any payments you made under the Prior Agreement towards your Initial Payment obligation under this Confirmation, provided however, you may be required to make additional payment(s) to satisfy the minimum Initial Payment obligation described below.

Below are the details of your PSL Fee payment plan, pursuant to the instructions you gave to your Stadium Sales Specialist. NOTE THAT THE PSL FEE DOES NOT INCLUDE THE COST OF TICKETS TO NEW YORK JETS PRE-SEASON, REGULAR SEASON, OR POST-SEASON HOME GAMES. LICENSEE MUST PURCHASE TICKETS FOR ALL PRE-SEASON AND REGULAR SEASON HOME GAMES TO MAINTAIN THE PSL; POST-SEASON HOME GAMES ARE OPTIONAL.

JETS STADIUM DEVELOPMENT, LLC

PSL SEAT CONFIRMATION

BINDING AGREEMENT: By signing this Confirmation, Licensee affirmatively has accepted the terms and conditions of the Confirmation and the PSL Agreement, making such agreement valid, binding and fully enforceable. If Licensee has not accepted the terms and conditions of the Confirmation and the PSL Agreement, and JSD has not received the Initial Payment, JSD shall be free to sell the PSL and all rights associated with it (including the right to buy tickets for the seats described above) to others and to retain all proceeds therefrom without obligation to Licensee.

Jets Stadium Development, LLC:

Licensee specifically acknowledges that the location of the Seats designated above, and as depicted in the diagrams used in JSD's marketing material (including, without limtation, on ww.NewJetsStadium.com, is based on a stadium that currently is under construction and, therefore, the precise seat location may vary.

Thad Sheely, EVP Stadium + Finance

You need to attach the Personal Seat License Agreement. This is not the entire contract, only the confirmation. And the way I read it, the highlighted material only applies to the signing of the confirmation.

I'm not a lawyer, but I would be my last dollar that the "PSL Agreement" has different terms and conditions.

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