Article Falcons fans have defaulted on more than $32 million in PSLs (2 Viewers)

[harrty]

What exactly is a PSL ? Are you just locked into the tickets or something ?

A personal seat license, or PSL, is a paid license that entitles the holder to the right to buy season tickets for a certain seat in a stadium. This holder can sell the seat license to someone else if they no longer wish to purchase season tickets.

 

[GrandAdmiral]

One of comments states that Snyder is suing Redskin fans who default on their PSLs. I wonder if that's true. If so, it's unbelievably outrageous.

It's so Dan Snyder though. Wouldn't surprise me at all considering the man.

 

[TheRealJRad]

You hate to see it...
wait no, that’s not right
What is the very opposite of that??

Schadenfreude

 

[whodatphil]

Being a falcon fan is sad enough, now they have that sorry team messing up their credit????

 

[Zigg]

Do all new stadiums have PSLs?

 

[Poison]

Good for them. Screw PSLs.

I did not know what a PSL was before I opened this thread, and now I do, and I cannot believe they are actually lawful. What an exploitative, anti-consumer concept.

 

[Madmarsha]

A personal seat license, or PSL, is a paid license that entitles the holder to the right to buy season tickets for a certain seat in a stadium. This holder can sell the seat license to someone else if they no longer wish to purchase season tickets.

So, in other words, paying for the right to pay for something else.

 

[efil4stnias]

when you purchase a PSL, you are obligated to purchase season tickets. If you fail to buy season tickets, your PSL is forfeit.

Actually you aren't obligated... You have purchased the right to now buy tickets.

The defaults are on the PSL contract. Those ran from 10k to upwards of 50k per seat. So if you wanted 2 tickets at the 50 yard line, just the right to but them cost you 100k. In their infinite wisdom, you could finance that for a decade or more.

So that is what is defaulting. People aren't looking to continue to owe 10s of thousands to then have to shell out another several thousand just to attend a game.


I don't know how people got duped into thinking this was a good investment.

 

[NatureBoy]

What amazing is that they ever sold a dollar worth of PSL’s.

 

[Andrus]

@ Thumb Ratings

 

[Saint Jack]

PSLs only work in L.A., NY, and Chicago. Everywhere else is trouble.

 

[whodatphil]

@ Thumb Ratings

I was the 28th like on that. Couldn’t miss the opportunity ?

 

[Charlie Brizzown]

Actually you aren't obligated... You have purchased the right to now buy tickets.

The defaults are on the PSL contract. Those ran from 10k to upwards of 50k per seat. So if you wanted 2 tickets at the 50 yard line, just the right to but them cost you 100k. In their infinite wisdom, you could finance that for a decade or more.

So that is what is defaulting. People aren't looking to continue to owe 10s of thousands to then have to shell out another several thousand just to attend a game.


I don't know how people got duped into thinking this was a good investment.

What happens to the seat if a person who holds a valid PSL opts not to buy a ticket?

 

[DaveXA]

What happens to the seat if a person who holds a valid PSL opts not to buy a ticket?

They'll then sell the rights to another individual. I believe the rights are tied to specific seats. People are financing and defaulting on the loan agreement. They lose the PSL and it goes to the next person willing to fork over the money.

 

[efil4stnias]

What happens to the seat if a person who holds a valid PSL opts not to buy a ticket?

Empty seats

That is why you see so many empty seats in MB stadium.