Arkansas yesterday announced that the school is "starting an exchange program" that will allow football season-ticket holders and prospective single-game buyers to "sell and buy from the university, instead of through other secondary vendors like StubHub and TicketMaster," according to Matt Jones of the ARKANSAS DEMOCRAT-GAZETTE. The school promises to "resell the tickets for less than the price they are being resold through other ticket exchanges." N.Y.-based ticket exchange company Lyte will "operate the platform." Prospective ticket buyers began making reservations yesterday, and season-ticket holders "will be given the opportunity to begin selling back their tickets on Sept. 22." UA is scheduled to play its first SEC home game Oct. 8 against Alabama. Arkansas Senior Associate AD/External Operations & Strategic Communications Chris Freet said, "As opposed to putting it on the secondary market and waiting two days, two weeks, two months, whatever it may for a transaction to happen, this transaction will happen immediately and they have 24 hours to accept our offer. Based on our schedule it will probably be face value for every game this year." Jones notes Arkansas "will not require its season ticket holders to use the new platform," but those who "do use it will be guaranteed a legitimate transaction." At least 38 schools "have partnered with StubHub." But UA AD Jeff Long said the school was a holdout because "we were not comfortable with the high prices being charged primarily to maximize profits for a third party." Freet said that Lyte "uses an algorithm" that will allow UA to offer tickets for about 20% "less than the median price for which they are being sold on websites like StubHub." Jones notes Arkansas "has sold 50,643 season tickets this season," up 7% from last year (ARKANSAS DEMOCRAT-GAZETTE, 9/7).
