NFL's Giants slapping $20,000 fee on some seats

NFL's Giants slapping $20,000 fee on some seats
NEW YORK - New York Giants season-ticket holders better prepare to dig deeper into their wallets just to keep their seats. More from the New York Post Subway Series matchups at a glance Mets' Church begins rehab assignment Knicks snare Italian star Complete Euro 2008 coverage More from The New York Post The Super Bowl champions will slap fans with one-time fees of up to $20,000 for the right to buy season tickets at the new Meadowlands stadium starting in 2010, the team announced yesterday. The fees, known as "personal seat licenses," will apply to all sections in the 82,500-seat stadium and are the first of their kind charged by a New York sports team, said Giants co-owner John Mara. Personal seat license prices will range from $1,000 to $20,000. The licenses give season-ticket holders first crack at seats — but fans will still have to buy tickets to the eight regular-season and two pre-season games. The team said 90 percent of the seats in the upper level would sell for $1,000, while only 5,000 seats in the lower bowl will sell at the highest price of $20,000. Mara said the team examined all options for financing the $1.6 billion stadium before settling on the license fees. "We have spent months exploring our various options regarding the financing of the construction of the new stadium," he said. "Given construction costs and NFL and lender requirements for paying down our debt, and after much thought and analysis, we decided this PSL program is necessary." What's Hot:Whitlock: The irresponsible white media Goodman: Chicago's big mistake Vote for your favorite Yankee moment Bulls take Rose with No. 1 pick Wolves, Grizz swap Mayo, Love Sharapova stunned | Roddick, Blake too Garza 1-hits Marlins; Rays sweep Top stories | Rumors | Video | Photos Mara admitted he is worried about infuriating longtime fans. "I'm very concerned about that," he said. "We tried hard to come up with a plan that guarantees everybody the opportunity to stay in the new building." The first payment is due within 30 days of receipt of the notice. Final payment will be due in March 2010. Among the region's other sports teams involved in major construction projects, the Yankees and Mets have ruled out such licenses. The Jets, who will share the new stadium with the Giants, sent season-ticket holders a survey this week on the issue. Seat licenses are currently sold by 12 NFL franchises and are privately sold and listed on Web sites like eBay, where fans attempt to flip their licenses at a profit.
http://msn.foxsports.com/nfl/story/8288174/NFL's-Giants-slapping-$20,000-fee-on-some-seats