Falcons Fans Default On $7M In PSLs During FY '19 As Total Climbs
Falcons fans have "defaulted on more than" $32M worth of PSLs in Mercedes-Benz Stadium, including $7M in defaults during FY '19, according to Tim Tucker of the ATLANTA JOURNAL-CONSTITUTION. These figures "may help explain some of the much-noticed empty seats at Falcons games this past season." The PSLs "originally ranged in price from $500 to $45,000," and often were "paid in installments over multiple years." A default "basically means the fan loses whatever money has been paid on the PSL previously, and the Falcons lose a season-ticket holder, although the team can then re-sell the seat license." It "isn't known how many defaults have occurred" since July '19. Records show that seat-license purchases made before the stadium opened in August '17 totaled $293.5M, including "interest added to accounts annually." Of that, $184.3M "had been paid" as of June 30, 2019. AMB Sports & Entertainment VP/Sales & Services Don Rovak said that the Falcons have "sold a total of about 9,000 new seat licenses since the stadium opened, had seat relocations last year affecting another 2,500 seats and, starting next month, expect to have at least 2,500 more seat relocations by fans this year" (ATLANTA JOURNAL-CONSTITUTION, 1/24).