JetNation Radio: NY Jets Ticket Sales & Personal Seat Licenses Dilemma

[JetNation]

[Lizard King]

I could not find a post I made over the winter about the borrowing rates that Jets Stadium Development LLC was able to get, but I think it was anywhere from 25-50% of the bonds were paying 3month Libor +.25% Without boring everyone, essentially that was less than 1 percent a year ago and half a percent now.

Why do I bring this up? Bc as usual there is a contingent talking about leaving their PSLs and banking on no consequences. As Woody charges ...what was it 10-15% financing?, realize he retained almost 90+% of that interest for either his own use or to accelerate paying down his share of the stadium debt.

At the time he took the loans out the deal did not look great with rates being a lot higher in2008 but since then, he truly stepped in sh*t since the Fed made it their lifes work to minimize interest rates especially on the short end.

Bottom line? Woody has made himself a nice little safety cushion on the financing and unless the entire fanbase walks he is not coming after anyone. The JSD is in no danger of defaulting on their debt which is spread out over 30 years and is prepayable (callable)