Capitals Announce Deal With Ticket Futures Company OptionIt

By Tripp Mickle & Eric Fisher, Staff Writers, SportsBusiness Journal

Capitals Offering Tickets Through OptionIt For Five Regular-Season Games, Playoffs

The Capitals has announced a partnership with ticket futures start-up OptionIt Inc. The Capitals will make 100 ticket per game available through OptionIt in the upper and lower bowls of Verizon Center during five regular-season games over the rest of the '09-10 season. The five games are on January 29 (Panthers), March 8 (Stars), March 24 (Penguins), April 1 (Thrashers) and April 21 (Bruins). The team and OptionIt will then make 300 tickets per home playoff game available on the platform. OptionIt, which has struck deals with several NFL, NHL and NBA clubs over the past six months, including the Celtics, Ravens and Sharks, seeks to forge a niche between the primary and secondary markets in which the options traded are good for the purchase of a face-value ticket to that game. The Capitals sold out their playoff games last year, but team execs said this help allow fans to secure tickets in advance. Ticketmaster, the Capitals' primary ticket provider, will fulfill the ticket options. Capitals VP/Ticket Sales Jim Van Stone said, "For us, it's really just another outlet for our fans to get access to tickets. Time management is tough and people don't know what their schedules are like, so this will give people an opportunity to secure tickets without making a commitment." OptionIt, however, does expect most Capitals options purchasers to exercise them, as utilization rates are exceeding 90% for the company's other team deals. The company is additionally seeking out concert promoters and musicians to expand its operational focus beyond just sports. OptionIt CEO Mark Mastalir: "The Capitals are a top-notch organization, and I expect they will firmly get behind this program. Consumers are adopting the model, and this is a very strong addition to our portfolio."