Legends selling PSLs for Chargers’ new home
Editor's note: This story is revised from the print edition.
The Los Angeles Chargers have tapped Legends Global Sales to market personal seat licenses and other offerings at the new Inglewood stadium, sources said.
The agency already handles that duty for the L.A. Rams, which will own the stadium and serve as the Chargers’ landlord when the clubs move into the venue in 2020.
For the past four months, Legends has been selling suites for use at both Rams and Chargers games at a preview center. The 125 suites sell for $350,000 to $800,000 a year, starting with 10-year terms.
For Legends, whose primary owners are the Dallas Cowboys and New York Yankees, the Chargers are just the latest NFL team added as a client, following the Rams. The San Francisco 49ers, Atlanta Falcons, Cowboys and Oakland Raiders (for their Las Vegas stadium) all retained Legends. With the Chargers, Legends now has business ties with nearly a fifth of the league’s teams.
Both Chris Hibbs, the Legends executive in charge of the Rams and Chargers accounts, and the Chargers declined to comment.
Legends anticipates raising up to $1 billion in PSL sales for the L.A. stadium, with the Rams accounting for about 60 percent, sources said. The stadium is projected to cost $2.6 billion.
“The fact that they [Legends] have been active in the L.A. market for the Rams indicates they should have a clear understanding of what the market should bear and where to find the prospects,” said Marc Ganis, a sports business consultant.
He noted the Chargers had worked with Legends on the club’s joint effort with the Raiders to build a stadium in Carson, Calif. The NFL in January 2016 chose the Rams’ Inglewood project instead, and the Chargers earlier this year relocated to L.A. from San Diego.
It is not the first time that the same agency has sold commercial inventory for two teams to the same stadium. CSL Marketing Group, acquired by Legends in 2011, sold for both the Giants and Jets at MetLife Stadium, which opened in 2010.
The ability of the L.A. market to support two teams is already in question. Sputtering attendance and TV ratings have greeted the Rams, who are in year two at Los Angeles Memorial Coliseum, and the Chargers, playing their first season at StubHub Center, a 27,000-seat soccer stadium in Carson.