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Yankees' Levine Credits StubHub's Cutler For Facilitating Deal

Yankees President Randy Levine today said the club’s six-plus-year ticket resale partnership with StubHub would not have been possible prior to last year’s appointment of company President Scott Cutler. The deal, containing financial guarantees worth in excess of $100M, was largely forged early this year in meetings led by Levine and Cutler following the club’s installation of a ban on print-at-home tickets. “It was clear this was a very different StubHub now,” Levine said, adding Cutler was somebody with “credibility and honor.”

StubHub’s integration with the club begins July 7 and is based entirely around mobile. Levine called print-at-home tickets “obsolete” and said the club’s new policy has brought fraud rates down significantly. StubHub will become one of the team’s five largest corporate sponsors. The deal also paves the way for the club to opt back into a league-level StubHub partnership and will lead to the closure of StubHub’s Last Minute Service Center near Yankee Stadium.

The deal contains an effective price floor, which calls for a minimum listing of the full season ticket price for that section, divided by 81 games and then divided again by half. StubHub has resisted any sort of restrictions, floors or ceilings around pricing, but Cutler said the net effect to consumers as a result of the pricing policy would be minimal. “One of my key priorities has been to be a better partner throughout the industry,” Cutler said. The deal marks StubHub’s only MLB team-level integration for mobile-only delivery.

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