Wanting something for free

[Lubeck]

Simple. Sell part of the team.

 

EXACTLY. Their money IS the team. It is all "value of a franchise", not real money. And when you have to pay REAL money on "value" money you have to sell. They are not trust-fund babies who have hundreds of millions stashed away.

[echochamber]

the sad thing here was there was absolutely no need what so ever for a new stadium.

 

Agreed..........except for the pissers. They definitely need new pissers.

[Treehugger]

Oh and another thing.....the retarded estate tax? When John Mara and Hollywood Tisch kick the bucket in order for their inhereters to receive their shares they will have to pay almost 50% of the value of the shares. Think about that....lets say the Giants are worth 1 Billion. Lets say for the sake of simplicity that the Maras and Tisches own 50/50 shares. Lets say each owner has only 2 kids. That means in order for the 4 kids to legally acquire ownership they will have to each dish out 125 million just to retain their ownership.

It's not protected under a family trust? Did the current Mara and Tisch have to shell out 50% this year?

[Thatius]

Lube, dont worry about the poor Maras and Tisches, they will figure something out. If your worried about the estate tax, worry about the farmer who is sitting on valuable land, then dies, and the kids have to fork over more money then they have ever seen to keep the farm going.

 

As for Wellington, he was the stupidest owner ever. He screwed up the Giants taking them from the champions of the 50s through the uselss 60s, panthetic 70s and not until the NFL forced him to take George Ypoung and let him run the team, did they finally get some respectability.

 

That fool couldnt run a team, didnt know shit about football, didnt care about winning only that the seats were sold out. Thats it, its been about the bottom line the whole time.

 

And Yes he did try the PSLs before but the fans bitched and they decided not to. Besides it ILLEGAL to double dip on the Jets and Giants.

 

Lets see, the Maras had Vince Lombardi and Tom Landry, yet during the 60s and 70s as these guys are coaching dynasties, the Giants are being coached by Ali Sherman Alex Webster. We went from Bill Parcells to Ray fucking Handley.

 

They dont give a flying fuck about winning, never did. Nor did they have a clue how to do it even if they did. It took them 10 years to figure out the whole salary cap issue.

 

You say its expensive to build a stadium?

 

The PSls for the giants and Jets alone are worth 900 million dollars. out of a total of 1.3 bill. Throw in the luxury boxes and the ticket prices and you pretty much have the whole thing paid off before the first 11 dollar flat ass beer is poured.

 

Too bad i could have the guests in my house pay off the whole thing in one year.

 

The prick tells me if i spend the 5K to get the licence, then th 1250 for the seat(each might i add) its a good investment. QUE?

 

to go to a stadium i cant smoke, or bring my own anything to? no water, alcholhol sandwiches, nothing.

 

There will be a lawsuit because you cant sell rights to the same thing twice. If i have a PSL, then that is my seat for anything that happens in the stadium should i choose to buy the ticket.

 

I dont have a problem with the PSLs, if they were actually Personal SEAT licences, they arent, they are Personal season ticket licences. I still have to buy the whole season, including preseason if i want to keep the licence.

 

Thats bullshit. My family have been going to games since Wellington was a little asswipe. Believe me we have spent lots of money on this team. I can also say there wont be many home games for the giants in the home stadium.

 

50/50 at best.

 

 

[BlueInCanada]

Ok so whats happening in this thread? I started reading it but got bored, someone give me a summary.

[Thatius]

blue some are complaining that the maras got a raw deal.

 

me i say the Giants ownership has been completely incompetant over the last 50 years.\

 

also everyone else pretty much seems to be lying down for this PSL package that is completely illegal and should be tested in court.

 

 

[BlueInCanada]

Lets pretend I dont know what a PSL is....infact lets no pretend.

[hlb37]

Lets pretend I dont know what a PSL is....infact lets no pretend.

 

 

"personal seat license". Just an aside, a previous poster inferred that these things are illegal. This is not the case as far as I know and see absolutely no reason why it should be. But I digress.

 

 

Historically stadia and arenas in the US have been built with either state or city funds along with money from the owners. The public portion of these funds was usually but not alway raised through the sale of municipal bonds. The bonds where then paid off over time with tax proceeds from the operations of the facility.

 

There are lots of reasons why this could be a good deal for various municipalities. Civic Pride, Job Creation ( initial construction, ongoing maintenace, parking, concessions etc ) and usually tax revenue. Unfortunately a few times these deals have gone way South ( shitty attendance usually ) and the residents of the municipality where left holding the bag in regards to paying off the debt. For this reason some municipalities stopped jumping into the stadia finance game.

 

So the owners turned to the idea of a seat license to fund or partially fund construction. Basically to own a season ticket you must own a seat license. That seat license is then yours as long as you are willing to purchase your season ticket package. If you don't want it you can sell it or have the team sell it for you.

 

In the case of the Giants, their half of the facility will cost 800 million dollars. It is pretty tough to tell from the info released what the Giants will get in total but if we assume that it is around 7k / seat on average and that there are a little over 80000 seats then that is 560 of the 800 million right there. The other 240 million could then be easily borrowed from a bank.

 

It is what it is. Am I happy about it? no. Am I worried about where my new seats will be? Hell yes. I like my seat right where it is. Can I do anything about it? sure. I can refuse to buy it but someone else certainly will.

 

So one smiles and then one pays.

[BlueInCanada]

So if you are a season ticket holder and you don't pay this estimated 7000 dollars then you don't get your seats/tickets?

[hlb37]

So if you are a season ticket holder and you don't pay this estimated 7000 dollars then you don't get your seats/tickets?

 

 

correct. you lose your right to purchase tickets.

[Thatius]

H

 

i believe it was me that said it was illegal, or if i didnt i agree with the person who did, and as an aside, STADIA? what the fuck are you back in ceasars day or something?

 

its illegal because they call it a SEAT licence. meaning you buy a LICENCE for a SEAT. Meaning thats your seat for whatever happens at the stadium and you have a CHOICE as to whether you want to buy a ticket for it.

 

1) they are double dipping and selling two licencs for the same seat.

2) they are forcing us to buy the ENTIRE season at inflated prices includin PRE-SEASON games

3) thelicence does not afford us the right to buy any seat for any other event at the stadium.

 

it is not a PSL it is a STL a season ticket licence and even then we dont HAVE to buy the whole entire season or lose the licence as we do now. Its illegal and back in the 90s when wellington tried this shit they sued him and he withdrew.

 

oh and by the way as for paying for the whole stadium before the first 10 dollar beer is poured, you are dead on. That isnt including the luxury box licenses(wich by the way work as regular licences and can not be double dipped)

[BlueInCanada]

So...

 

why is this so bad? I mean isnt that new stadium going to cost upwards of 1 billion dollars or something? I really don't see why having the season ticket holders pay a price to help contribute to the building of the stadium that bad. Although if it is 7000 bucks I think that is WAY to much, I can see 500-1000 per person to help but 7k is way to much.

[mickeef2]

its illegal because they call it a SEAT licence. meaning you buy a LICENCE for a SEAT. Meaning thats your seat for whatever happens at the stadium and you have a CHOICE as to whether you want to buy a ticket for it.

 

It's just a phrase. Your logic is like saying, "I have a drivers license. It's a license to drive, so I can drive whatever I want- motorcycle, car, 18-wheeler, tank..." What you're purchasing is a license for your seat for Giants games. I'm sure that's outlined in your seat license contract.

 

As for the seat licenses, I feel bad for all of the people who've had great seats forever and now can't afford to keep them, but when it comes down to the the team being profitable and being able to put a winner on the field (and the current agreement runs out in two years and there will be no cap), or a few thousand people getting to keep their seats and the team not having enough money to sign free agents, I'd rather the team be as profitable as possible.

 

I can't afford to take my family to Fenway more than once a year anymore, but I'm okay with that if there are Red Sox fans better equipped to fund the team. I'd rather watch a championship-caliber team on tv than a losing team in person any day.

[Thatius]

Mickeef,

 

i dont get your meatphor. what i do get is that you cant sell two licences for one seat. Every other stadium that sells licences affords you the right to buy tickets for any other event at that stadium. It is also the deal for the luxury boxes. You buy the rights to the box and then you buy the tickets for any event you want.