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Friday
May 11, 2007
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Recent Issues
Facilities & Venues

Mets, Yankees Will Not Sell Seat Licenses At New Ballparks

Mets Cite Fan Backlash As One Reason
For Not Selling PSLs In New Ballpark
Neither the Mets nor the Yankees will sell PSLs to their new ballparks opening in ’09 “because they have already secured financing and don’t want the fan backlash,” according to Danielle Sessa of BLOOMBERG NEWS. Mets Exec VP/Business Operations David Howard said, “We had a visceral feeling it would not be well received by our fan base, which was confirmed by our market research.” Yankees President Randy Levine declined to discuss the decision. Sessa reports the teams have raised a combined $1.6B “in taxable and tax-free municipal bonds that will be repaid with stadium revenue.” None of the nine major pro sports teams in the N.Y. area have sold PSLs, although the Nets, Jets and Giants “haven’t determined if they will sell [PSLs]” at their new facilities. Charlotte-based Private Sports Consulting President Max Muhleman said that the Mets and Yankees “might be passing up at least $40[M] each” in revenue by not selling PSLs (BLOOMBERG NEWS, 5/11).

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