anyone hear anything about if, or how much they are going to charge? i've got 4 seats in section 111, and i'm hoping that i'll be able to afford to keep them.
I called the ticket office a few months back trying to find out this very same answer. They gave me a bunch of run around saying it would be at least a year before they knew "if" and "how much" PSL's would be. Thinking about it, I am assuming we (season ticket holders) will be informed sometime in 2009, probably when we get our 2009 invioce. That'll give us all plenty of time to fight with our spouses and deplete our kids college funds, as I plan to do. This stinks, but it is what it is. my only "hope" is that the PSL's will be "minimal" because there are going to be 20 game tickets sold each year, not 10 because of the two teams, but I guess I am simply thinking wishfully at the moment, get ready for at least a couple grand per seat, depending on where you seat, thats my opinion anyway.
If you have the money to get in initially they may turn out to be a good investment down the road. You will own the seat which means you will be able to sell it to anybody you want at any time you want, correct?
I'm sure there will be restrictions on such things. people sell the "rights" to their seas now, althugh not legal, they still do it.
I think they would have the right to approve the person buying it so you can't sell it to serial killers or pedophiles but other than that I don't believe they can interfere with you doing so like they can now. It seems like it's buying a piece of real estate to some degree. As it appreciates you should have the right to recover the profits.
I've thought about this a lot, Don, and yes, on the surface, it would seem like you might have the possibility of selling the PSL later at a profit. Of course, if the prices are exhorbitant, you might not make a dime either. Which brings me to a VERY important point that all family guys need to know about before tying up that kind of cash over a long period of time with almost no return on the "investment." Even if the PSLs are, say, $3,000 per seat, they're still a horrible "investment." I'm not a big Suze Orman fan, but just ask a financial advisor like Suze what the power of investing $12,000 (4 seats X $3,000) would be in the stock market for 30 years. A true investment in the stock market (at 10% return per year compounded) will double every 7.5 years. In 30 years, you've doubled your money 4 times. So, if you invest that $12,000 that you would have given the Jets for 30 years, you would have $192,000. If the PSLs are $4,000 per seat and you've got 4 seats, you would have accumulated $256,000. And at $5,000 per seat, you would have amassed $320,000... enough for some to have a fairly comfortable retirement! So no one should lose track of exactly what you're doing when you tie up any kind of money in PSLs with no return other than the pleasure of sitting in that damned seat. It's really not an "investment" at all... in fact, it's quite a loser.
I don't think we should be talking about PSLs and accepting it like it's inevitable. I'm sure the Jets monitor these boards (we are their customers, what business doesn't) and if we keep on sending the signal that it's OK and we'll pony up, it's just going to give them more confidence in doing it. Even if you're all willing to pay the PSL, you don't have to post it here. Better to say how you're gonna walk if they do charge them. Bottom line, it's a shared stadium so, A) There's no reason why two teams and 3 sets of millionaires can't foot the bill. B) There's a fundamental problem with this particular situation in that two season ticket holders will be paying for the same seat, so they won't have first crack at other events. You can say what you want, but I think it's smarter to talk about how you're never gonna pay the PSL, or say nothing at all about it. Big Woody is listening.
I totally agree with your view on them as an investment. You need to factor in the fan value too. Somebody is going to buy them no matter what so if you at least have a chance of making a profit it's better than what you have today when you are basically just throwing 1000 bucks a seat away year in and year out. Even if you were to break even or even lose some of it it's still better.
I agree with the "fan value." But I'm still going to be throwing 1000 bucks a seat away even if I buy into the PSL program. The PSL just gives me the seat license. Now the bastards will still send me an invoice every spring for the cost of the Jets tickets that year. THAT's the rub I have with all this... the whole f*cking thing is a HUGE ripoff.
The bottom line is, this is either going to be a rich man's spectator sport or a fool's spectator sport. If you're sitting in the stands, you're either a f*cking fool or you're a rich man. You're a fool for tying up that kind of cash over that period of time with no return or you're a rich man who can afford to not give two sh*ts about the money. Now, I've done alright for myself over the years and I can probably afford the PSLs if they come around, but I'm also no idiot about what I do with my money. So now, if they come along, I'm going to have to decide if I'm rich enough or foolish enough to buy the PSLs.
I didn't realize that. I thought you bought the seat and that automatically gave you entrance to any event going on. Obviously, I didn't know how that would work in a shared stadium but I thought that was the point of paying that kind of money. I also thought you paid that 2000 or 3000 or whatever it is for 20 years or so.
I agree with all this but it probably matters little what we say on the board in this regard. And where have you read that guys are willing to pay the PSLs? I haven't read too many of those kinds of posts. Most people I know (the ones who actually own season tickets) bristle at the notion of PSLs for all the reasons you outline above. And as you say, the entire concept of the "joint stadium" was born of the idea that sharing the costs was a good thing for everyone concerned, including the public. For the Jets and Giants to then announce PSLs would be an unconscionable and egregious violation of public trust, IMO.
No, you pay for the license (only). Then, whatever event you want to go to, you have first dibs on. If you want the Jets season tickets, you indicate so and they send you a f*cking bill. But GSour brings up a very good point, because the stadium is shared. So if you've sold two sets of PSLs, what are you going to do with other events? Look, I can see if you're building the WSS and it's a free-standing stadium and all (or most of) the costs are being born by the Jets. Now you know WTF is coming and you almost anticipate PSLs, no question. But this whole "joint" thing was sold on the basis of sharing costs and making the whole thing cost efficient and manageable. No, they never said there would NOT be PSLs, but nor did the public have any reason to believe that there would be, based upon all this Koom-Bye-Ah, love-thy-Giants-neighbor, "shared costs" horse manure.
So, are these same PSLs being sold to both Giants and Jets fans? That would be cute. What if I am a rich SOB who just wants to screw my Giant co-owner. I buy the seat and say I want tickets to both the Giants and the Jets. Then what? I can see where this is going to be a problem and maybe it won't happen at all because of that.
You can also lose your ass in the stock market and get nothing for your money. At least with a PSL you're getting football tickets with some resale value. The value will vary from year to year just like the tickets have always done, based on how good the team is doing at the moment.
Not historically, not over the long term, Seafood. As far as getting any kind of "return" by reselling your tickets (even in a good year), you've really got to factor in enough of a profit on the sale of them to cover your initial cost of the PSL or a percentage thereof, spread over a number of years, so nobody in their right mind on eBay is going to pay you $800 per seat for your tickets. So no, IMO, people have to stop thinking about this as any kind of "investment" or "return" whatsoever other than, if you want to tie up $30,000 grand and then buy your tickets to go watch the game. I hate to hear of someone actually thinking in terms of dipping into a college fund, for example, to fund the PSLs, as someone earlier stated he was thinking of doing. This is a horrible idea... absolutely horrible. Bottom line: if you've got the money floating around with no other use for it for the next 20-30 years and your retirement is comfortable by way of a nice hefty 401K, a pension, a sizeable SS check and some real estate investments (other than your primary home) and you want to toss $30,000 at the Jets on this totally losing "investment" proposition, that's all well and good. But for God's sake, let's end all this discussion of a PSL being an "investment" or any "return" on this money, because it's TOTAL loser in that regard.
It is historically for me. My money disappeared in three years, I never made it to the long term. Never again with that bullshit. Even if the PSL is a ripoff, which it is, it's less of a ripoff than that.
But 3 years isn't long term, Seafood. If you're young and have a decent income and you "dollar cost average" a portion of your income into a simple S&P 500 mutual fund for 25-30 years (and leave it the hell alone), you'd be amazed at what that turns into. But hey, everybody is different and I'm not on a Jets board to dole out financial advice, so you go ahead and do what you want. I'm just saying that anyone thinking that a PSL is any kind of "investment" whatsoever is WAY off base. Paying PSLs is okay for someone who is wealthy... very wealthy, in fact. The money should be regarded as play money... disposable money, as in buying a boat or going to Las Vegas and throwing away 30 Grand at a clip... that kind of money. If your retirement is secure... I'm talking about a sizeable 401K and/or Roth IRA with some stck options from your company or company stock or guaranteed pension, other investments, including possibly real estate or rental property, shore property, that sort of thing, and looking at a decent-sized Social Security check on the side for spending cash, maybe even a little inheritance money from the folks or life insurance benefits when they pass away and on which you can also live comfortably and your childrens' college expenses are all provided for and you've paid off your mortgage, THEN the idea of a PSL is not a bad one. Screw it... I'll just toss $30,000 to the Jets for the priviledge of parking my ass in my seats and I'll get it back (probably without any interest or return whatsoever) when I no longer feel like going to the games. But the idea that this is a good thing to do if you haven't provided for all the other family necessities is insane. I know, I'm sounding like "the wife" now, but if that's the argument that your wife presents when it's time to write a check from your Home Equity Line of credit to the NY Jets for PSLs, it might be time to listen to her.
