Thursday, September 18, 2008

Screwed and Stupid?

Fatcessa was talking to a Jets representative about these absurd PSLs the Jets/Giants are using and something caught my ear - he said that these are one-time fees, used to help with the building of the stadium. Then I looked up what a PSL is, and the explanation included
The primary reason sporting venues offer PSLs is that the proceeds are used to help pay the debt incurred during the construction of the stadium or arena. Also, many supporters feel that such licenses essentially give fans ownership of the seat.
What? Wouldn't that constitute an investment from the buyer's side? The stadium is directly using the money to help build the place; shouldn't the fans expect a return once the profits start flowing in? Why would you be okay paying this outrageous one-time fee, basically buying in like anybody else would on any other real estate development or deal, and then be okay with the Stadium saying "Thanks!" and then never handing a dime back to you? How is this possible? Do people going to the movies/theater/restaurants do this? No. Fucking hell.

1 comment:

Nerdhappy said...

Oh man, I wish I could comment on this... 6 more days until my ban is over!