StubHub's Tsakalakis On Some MLB Teams Not Opting Into Deal

StubHub President Chris Tsakalakis today discussed the firm renewing its secondary ticketing deal with MLBAM, and said the Angels, Yankees and Cubs "will not opt into the deal, at least not in the first year." CBS' Charlie Rose asked, “What's the issue?” Tsakalakis: “The issue, we think, is about pricing. These teams are very sensitive to market prices for tickets to see their games and they don't like it when tickets on StubHub have prices lower than their face value. They feel like they're being undercut.”

Tsakalakis noted that “there are times where tickets sell below face value, yes. That's true of every single major league sport. It's not just StubHub. It’s the market price. We don't set the market price, our sellers set the prices” (“CBS This Morning,” CBS, 12/12).