The New York Jets and the New York Giants are raising ticket prices, they say to cover the $1.6 billion cost of the new stadium in the Meadowlands. Jets prices have not yet been announced.
The Giants are charging between $1000 and $20,000 per seat in PSLs, depending on the location of the seats in the stadium. The New York Post reports people taking out home equity loans to pay the PSLs and setting up limited liability partnerships to manage them as an investment. That may be the best approach. The PSL is a one time fee, but it is required for purchase of a season ticket package. However, apparently the PSLs can be resold by the fans rather than reverting to the team.
Some single game tickets to the Giants' games are rising from $100 to $700. That's right, a 600% increase. And people are planning to pay these prices.
The Giants think this sort of price increase won't be a problem because the waiting list for season tickets is 130,000 people long. The Jets have not yet announced their ticket or PSL prices, but one would expect them to be somewhat more modest than the Giants. Afterall, the Jets' season ticket waiting list is only 10,000 people long.
Thanks to Ryan Sharrow of the Baltimore Business Journal for calling this story to my attention.