NFL fans "are literally turning to banks" for loans "to
help finance their season tickets," according to Sam Walker
of the WALL STREET JOURNAL, who reports that teams in at
least nine NFL cities are doing more than "just encouraging"
fans to take out loans, "they're joining up with local banks
to market them." Fans need to pay large up-front payments
for PSLs, so in Nashville, the Oilers and First American
National Bank sent mass mailings to local fans "complete
with preapproved `checks' for $5,000 that become loans upon
the customer's endorsement." Pro Player Stadium, home of
the Dolphins, joined with AmEx to allow fans the chance to
charge and finance club seats on their credit cards. But
analysts note one "danger" to the loan process is that "fans
in debt tend to grow frustrated and disillusioned in a
hurry" if their teams aren't winning. Ravens fan Paul
Sawyer, who has borrowed over $7,000 to finance his season
tickets: "The loan takes a lot of joy out of the game. As
big a fan as I am, I hope this blows up in the faces of the
owners one day. I just think it's a crime to charge this
much money" (WALL STREET JOURNAL, 11/13).