New York Jets Selling 2,000 Stadium Seats on eBay’s StubHub

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The New York Jets are auctioning off 2,000 personal license seats (PSLs) through the eBay Inc.  (NASDAQ:EBAY) website.  These are the best seats at the Giants’ stadium.  This is the first time that a major U.S. sports team embraced the online auctioning of these seats.  Giants expect these seats to go for more than $25,000 each. 

A personal license seat will give the buyer a stadium-life ownership of the seat.  The buyer can always resell these seats if they desire to.  PSLs started in 1993 and help publicly finance new and upcoming stadiums.  The new $1.6 billion stadium will host games for the Jets and the Giants starting 2010.

eBay will be selling the licenses through StubHub between October 19-27.  The 2,000 lower level seats will be sold on StubHub near the 50 yard line.  Another website, will be selling a floor price for the other PSLs.  All bidders will be screened and have to provide a credit card.  eBay will be making commission from this deal.

“These are the best seats in the house, so how do you set a price for
them?” stated Matt Higgins, EVP of Business Operations of the New York Jets. “Let the market decide.”

The Dallas Cowboys are also going to start playing in a new stadium.  The price set for the 1,000 PSLs in that new stadium was at $150,000 each.  The Giants CEO John Mara announced that he wanted to raise $370 million for the new stadium.  PSLs are a great way to gain capital seamlessly.  Tickets for the games in the new stadium are between $85 and $700.

eBay acquired StubHub for $310 million in January 2007.  Looks like it is already starting to show some sort of ROI.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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