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Jazz Are First NBA Franchise To Allow Season-
Ticket Holders To Sell Seat Location Rights |
The Jazz are the first NBA franchise to unveil a new product that allows season-ticket holders to "sell their 'seat location rights' to buyers, creating potential new revenue for season-ticket holders and the team," according to John Lombardo of SPORTSBUSINESS JOURNAL. Through a partnership with STR Marketplace, the Jazz "will allow fans to sell rights to their season tickets at a premium set by the market." For example, a "customer in Utah who chooses not to renew his or her season tickets can create a listing to sell the 'location rights' of the seats to the highest bidder on the team's Web site." The rights are a "separate transaction and do not include the costs of the full-season-ticket package." The seller "sets the asking price of the seat location and buyers submit offers." If an offer is "refused, the listing goes back on the market." STR "handles the transaction for the team, and the team takes a 40[%] cut of the rights sale." The Jazz have "final approval of the transaction," but do not control the price of the seat location, "allowing the market to dictate the value of the rights" (
SPORTSBUSINESS JOURNAL, 1/11 issue). Jazz VP/Communications Linda Luchetti said that if someone "tries to sell the location rights to their seats but no one is interested, the would-be seller still can return their rights to the club without compensation." In Salt Lake, Mike Gorrell notes as of yesterday there were "10 listings for tickets, ranging in price from $750 for two seats in an upper corner to $9,500 for four seats along the lower baseline" at Energy Solutions Arena (
SALT LAKE TRIBUNE, 1/12).
