NFL, Ticketmaster Formally Renew Secondary Ticket Agreement For Five More Years
The NFL and Ticketmaster on Friday formally announced a five-year extension of their secondary ticketing business. The deal was previously reported in SportsBusiness Journal. Ticketmaster CEO Nathan Hubbard said, "Together with the NFL, we've built a tremendous asset in the NFL TicketExchange as the safe, secure and convenient destination for NFL fans to buy resale tickets. We collaboratively worked together to enhance the terms of the extension resulting in improvements for fans, the league, the teams and Ticketmaster." The renewal, which picks up in the '13 season, includes all 32 teams. The deal will pay the NFL and its teams about $200M over the five years, though some of that money is forwarded from the existing deal, a source said. The press release announcing the deal said the NFL TicketExchange business had quadrupled in size since launching with the league in '08.