New York Giants fans are feeling scammed after paying for high-priced Personal Seat Licenses (PSLs), which have become cheaper with each passing year.
After the team entered a partnership with the New York Jets to build the $1.6 billion venue – now known as the MetLife Stadium – they priced-out some of their top fans. In order to afford the stadium the Giants ordered fans to purchase PSLs for each seat in the venue, on top of the price for each individual ticket. These prices ranged between $1,000 and $20,000. Many fans were forced to release their longstanding seats, as they were unable to pay the new PSL fee. However, some fans gave it a shot and kept their seats, sucking up the new price.
Those that purchased PSLs in 2010 have noticed that the prices have significantly dropped over the past 10 years. Steve Politi of NJ.com explained in an article that the team’s economy and poor performance, combined with the travel to-and-from the stadium, has led the PSL’s values to decrease significantly. One fan, Raj Kaneriya, told Politi that they spent $20,000 on four PSLs and kept hoping that the team’s performance would increase, yet Politi notes that “no one I talked to holds out hope that the value will ever approach the initial cost, not with the ticket-resale market flooded each week and a feeling among fans that a trip to the unpopular stadium isn’t worth the bother in the world of high-definition TVs.”
Politi noted that originally, PSLs in the mezzanine’s end zones sold for $4,000, and now, fans can score four tickets for less that that price – one was even listed for $950. Additionally, end zone seats used to go for as much as $5,000, and now, they’re up-for-grabs at $1,900. Another fan, Jeff Furbish, told Politi that he purchased four PSLs at $1,000 each when the stadium opened.
“I listed [the PSLs] at face for a year with no feedback,” he said. “Now they’re listed at half of what I paid without a peep. We’ve owned them since the stadium opened, and every year we feel less and less valued as a fan and as a customer.”
Without change, the team may lose even more fans in the coming years.
This season, the Giants are in third place in the NFC East, with a record of 4-11. The team has made the playoffs twice (2011 and 2016) since MetLife Stadium opened in 2010.