Originally Posted by Alkrotraz
Giants did not do financing
My bigger question is the NY Jets obviously dont have a NY or NJ banking license. As a non bank lending money and charging interest I wonder how enforceable that contract is.
I paid off my PSL so I dont care but anyone on 15 year plan at 8% they dont have much skin in game and financing a losing investment at 8% is crazy.
Bottom line Jets overcharged for 90% of seats. I am still happy as I am in the 10% that got a good value seat. If not I would have not paid off PSL so quick as now my options are limited.
you are correct. The Giants provided no financing. Fans had to take out loans via other methods to pay for their PSLs if they were not willing to front the PSL money. Forgot about that. Goes to show you the level of desperation for the Jets to get people to buy PSLs vs. the Giants.
Also, you don't need a law degree to know that anyone
can lend money and charge interest provided it does not violate usury laws. Completely legal and enforceable.