Have A Seat: Ticketmaster, NFL Close To Ticket Resale Deal
Ticketmaster is close to “securing a multiyear deal that would make it the official ticket reseller” of the NFL, according to a source cited by Spencer Ante of BUSINESSWEEK. Ticketmaster “in exchange for the exclusive right to sell [NFL] tickets in the secondary market, … would have to pay an annual fee, likely to be" $15-20M a year. Of the six companies that submitted bids to the NFL, sources indicated that Ticketmaster was “the only company willing to bid at or close to the asking price.” StubHub is “said to be considering a last-minute counteroffer.” Ticketmaster currently owns secondary ticketing rights for 17 NFL teams, and the new deal “could potentially give Ticketmaster control over ticketing for the other 15 teams over the next five years.” Per the agreement, each team “will be allowed to maintain its own ticketing policies as part of any secondary ticketing deal,” and some teams, such as the Patriots and Broncos, “forbid fans from reselling tickets for above face value." The Patriots in ’06 sued StubHub “for allegedly inciting fans to resell their tickets for above face value, and the team has revoked the season tickets held by a number of fans caught reselling their seats.”
MLB COMPARISONS: For its secondary ticketing contract, the NFL has asked for terms “similar to a deal [MLB] signed this past August” with StubHub. A source said that the deal “required StubHub to pay [MLB] $10[M] each year for the rights to resell tickets, along with a $5[M] annual payment that goes toward marketing for baseball teams.” MLB and StubHub also “share the fees generated from ticket sales” (BUSINESSWEEK.com, 12/5).
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