Can you continue to pay psl just not renew tickets

[DUNCCFP]

Originally Posted by sec.101row23

He isnt eating $100k, he only has two seats. He is eating $36k.

He paid $100,000 for 2 PSLs and is asking $14,000. Do the math.

[sec.101row23]

Originally Posted by DUNCCFP

He paid $100,000 for 2 PSLs and is asking $14,000. Do the math.

He didnt pay $100K for two PSLs. Show me where the $50k PSLs are.

[E4orBust]

Originally Posted by Alkrotraz

Then you should not have tickets. Only way to make season tickets worth when you only go to 2-3 games a year is to sell big games.

i know, that's why i'm likely getting rid of them. if my 20+ tailgate crew still went to 8 games a year, i would as well. they don't, so it's not nearly as fun for me as it used to be.

[E4orBust]

Originally Posted by SAR I

First off, I'm sorry if I my 'epiphany' comment came across as crass. I know you're in a tough spot right now and I'm not trying to make you feel any worse.



SAR I

no problem. not really in a touch spot, i just think my goal, to go to 3-4 games a year, is better served by selling my PSLs, for half price or whatever, and cherry picking a few 1pm games each year.

losing the PSL $$ or the $$ lost on re-sales doesn't really matter to me. more annoying than anything. life would seem simpler to me to not deal with invoices, PDF downloads every other week, lowering my listing price, getting the check from Stubhub, depositing it, etc...

we've disagreed on stadium pricing dynamics for years, so it's part of the fun at this point.

[E4orBust]

Originally Posted by Jets337

Are your seats on the aisle? The best place to look at resales is ebay. Not only check what PSL listings are currently available but also look at completed listings. I will throw a couple links here but you may want to look at it yourself as well.

Section 148 Row 17 seats 1 and 2. Had 1 bid for $3k
http://www.ebay.com/itm/NY-Jets-Seas...item20cf30a747

Section 148 Row 38 sold for less than $1,947 (won't show me the buy it now offer)
http://www.ebay.com/itm/2-TIX-New-Yo...item2a202ab96b

Section 124 Row 26 sold for $2,200
http://www.ebay.com/itm/2-New-York-J...item43b65ab6b3

Section 204 row 12 Sold for under $2,450 (won't show me the best offer)
http://www.ebay.com/itm/NEW-YORK-JET...item3f201ed4f2

Section 124 row 26 sold for $2,000
http://www.ebay.com/itm/2-New-York-J...item43b65ab281

Section 226 row 12 4 seats sold for $1,825
http://www.ebay.com/itm/4-NY-Jet-psl...item4d0744c490

thanks, very helpful. 2 seats off the aisle. i wanted aisle convenience, without the random elbow from a guy carrying a basket full of french fries down the stairs. i have zero ebay experience, but that looks like the way to go.

[Nike]

Originally Posted by Dcat

We don't believe you. Period. End of discussion.

i really dont care. i know i lost money but not as much as others will lose in the end.

[Alkrotraz]

As per Mushnick in today's Post, the Jets are sending out a serious number of post due notices for nonrenewals effective today.

PSL STANDS FOR PLENTY OF SEATS LEFT ...

[Apache 51]

Originally Posted by Nike

i really dont care. i know i lost money but not as much as others will lose in the end.

If you bought a PSL with the thought of winning or losing money you couldn't afford it to begin with.

[Dcat]

Originally Posted by Nike

i really dont care. i know i lost money but not as much as others will lose in the end.

Neither do I. Go ahead and continue your little charade since it seems to float your boat so much. Your unwillingness to provide any shred of evidence translates into an inability to do so. Gee, I wonder why?

[Jets337]

Originally Posted by Alkrotraz

As per Mushnick in today's Post, the Jets are sending out a serious number of post due notices for nonrenewals effective today.

PSL STANDS FOR PLENTY OF SEATS LEFT ...

Do you have the link?

[Traitor Jay & the Woodies]

Originally Posted by Alkrotraz

As per Mushnick in today's Post, the Jets are sending out a serious number of post due notices for nonrenewals effective today.

PSL STANDS FOR PLENTY OF SEATS LEFT ...

Do you have a link? I cannot find that article.

[Apache 51]

5. PSL Rights and Obligations.
(a) Licensee (i) shall have the right and the obligation to purchase
admission tickets for the Seats for all pre-season and regular season home
games of the Jets scheduled to be played at the Stadium and (ii) shall have the
right, but not the obligation, to purchase admission tickets for the Seats for all
post-season home games of the Jets scheduled to be played at the Stadium
(excluding the Super Bowl), in each case for as long as the Jets play home games
at the Stadium and at prices and in a manner established by JSD, the Jets or, if
applicable, the National Football League (the “NFL”) (Jets’ pre-season, regular
season, and post-season home games collectively shall be referred to hereafter as
“Jets Home Games”). If Licensee fails to purchase such tickets for any post-
season Jets Home Game in accordance with the instructions received from
Licensor or the Jets, then Licensor and the Jets shall be free to sell such tickets to
others in their sole discretion and shall be entitled to retain all of the proceeds of
such sale.
issuer of such tickets or JSD, as applicable, shall have the right, but not the
obligation, to sell such tickets to persons other than Licensee and, in the case of
a failure to acquire tickets to pre-season and regular Jets Home Games, to
exercise any other rights and remedies it may have.
(h) Licensee shall, in addition to the other payments provided for in this
PSL Agreement, reimburse JSD for costs incurred by JSD to repair any damage
(other than normal wear and tear) caused by Licensee or Licensee’s guests (as
defined in Section 8(a) below) to the Seats or other property of JSD or NMSCO
(as defined in Section 10(a) below).
(i) Licensee shall not, and shall not permit its guests (as defined in
Section 8(a) below) to, bring food or beverages into the Stadium except to the
extent purchased from JSD or duly authorized Stadium concessionaires.
6. Construction of Stadium.

[MGF0723]

Originally Posted by bossman725

Million dollar question ..with all the stories of people defaulting on PSL payments can you still pay off your psl obligation but just decline to purchase tickets going forward???

I was thinking of doing this too being that my tickets are becoming tough to afford. I'd rather just give the Jets their yearly financed PSL payment and avoid the legal ramifications. Unfortunately I don't think we can do that being in the contract, we're obliged to buy tickets every year. If we don't purchase tickets, the financed payment becomes void and the entire remaining balance on the PSL is due in one payment. So, basically we have three options.....continue to buy tickets and finance the PSL, don't purchase tickets, pay off the PSL in one payment, lose rights to buy the tickets and give the PSL back to the Jets or default on the PSL and face the possibility of getting sued. Honestly, I feel I jumped the gun and rode the AFC Championship wave into buying PSL's, not thinking about the financial burden it has put on me.

[Traitor Jay & the Woodies]

Originally Posted by MGF0723

I was thinking of doing this too being that my tickets are becoming tough to afford. I'd rather just give the Jets their yearly financed PSL payment and avoid the legal ramifications. Unfortunately I don't think we can do that being in the contract, we're obliged to buy tickets every year. If we don't purchase tickets, the financed payment becomes void and the entire remaining balance on the PSL is due in one payment. So, basically we have three options.....continue to buy tickets and finance the PSL, don't purchase tickets, pay off the PSL in one payment, lose rights to buy the tickets and give the PSL back to the Jets or default on the PSL and face the possibility of getting sued. Honestly, I feel I jumped the gun and rode the AFC Championship wave into buying PSL's, not thinking about the financial burden it has put on me.

Option 4: Sell the PSL

[The Band]

Originally Posted by SAR I

If the Jets wind up re-owning a significant amount of $150 PSL seats, they ain't going to appear on StubHub for $75. The bargain days end when PSL holders stop holding PSL's as we are the inventory for StubHub, not the Jets.

SAR I

and then we`ll see the blackouts take place and fans STILL won`t run to the games. You would think a blackout threat would be a good thing for the Jets to do. More fans will probably boycott the Jets and they`ll never be seen on tv playing/losing at home. LOL

Glad to see you realize what is likely to happen. I think you should get out there with signs wrapped around your neck pushing for people to become PSL owners. You and Grayson can stand around the streets of Manhattan, each taking a corner and rotating.

[Dcat]

Originally Posted by Traitor Jay & the Woodies

Option 4: Sell the PSL

Sadly, the Jets and Giants are going to get a lot of this. Neither did credit or income verification checks before agreeing to lend a lot of money. Heck, I initially financed $46,000 minus down payments and they didn't ask my age, work status, income level, credit history... nothing! Not unlike mortgages given out during the Bush years. How the Jets did this was the epitome of fiscal irresponsibility.. but I shudder to think how many PSL buyers would have been declined by the financing entities behind the Jets. It is beyond me how those entities that financed the stadium for the jets and Giants allowed the teamss to lend money without doing credit/income verifications. The Giants will have way fewer defaults, notwithstanding the extra 23,000 PSLs in the upper deck, because its fan base is older and more established. The Jets, on the other hand, were desperate to fill this stadium so agreed to lend money to anyone who was willing to sign on the dotted line.

In the end, they have no business not expecting a massive number of defaults. It's entirely their own fault. I have no sympathy for them.

[Traitor Jay & the Woodies]

Originally Posted by Dcat

Sadly, the Jets and Giants are going to get a lot of this. Neither did credit or income verification checks before agreeing to lend a lot of money. Heck, I initially financed $46,000 minus down payments and they didn't ask my age, work status, income level, credit history... nothing! Not unlike mortgages given out during the Bush years. How the Jets did this was the epitome of fiscal irresponsibility.. but I shudder to think how many PSL buyers would have been declined by the financing entities behind the Jets. It is beyond me how those entities that financed the stadium for the jets and Giants allowed the teamss to lend money without doing credit/income verifications. The Giants will have way fewer defaults, notwithstanding the extra 23,000 PSLs in the upper deck, because its fan base is older and more established. The Jets, on the other hand, were desperate to fill this stadium so agreed to lend money to anyone who was willing to sign on the dotted line.

In the end, they have no business not expecting a massive number of defaults. It's entirely their own fault. I have no sympathy for them.

I obviously have no sympathy for the Jets when it comes to the endless lists of mistakes they have made regarding this stadium. But I'm also hard-pressed to have any sympathy for the defaulting fans either. I just don't understand how they didn't understand the financial obligation they were entering into. This was post collapse of the sub prime bubble and the complete tanking of the economy. I'm absolutely dumbfounded by some of these comments.

[Dcat]

Originally Posted by Traitor Jay & the Woodies

I obviously have no sympathy for the Jets when it comes to the endless lists of mistakes they have made regarding this stadium. But I'm also hard-pressed to have any sympathy for the defaulting fans either. I just don't understand how they didn't understand the financial obligation they were entering into. This was post collapse of the sub prime bubble and the complete tanking of the economy. I'm absolutely dumbfounded by some of these comments.

Agreed. I don't get how people could not understand what they were signing. I know the Jets fan base is not exactly Mensa material, but seriously... WTF? Meanwhile, the Jets will have lots of defaults. Will be interesting.

[Alkrotraz]

Giants did not do financing and won a superbowl.

No I dont have link to psl thing I heard it from a friend. I have to see who told him

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.

[Alkrotraz]

Originally Posted by Dcat

Sadly, the Jets and Giants are going to get a lot of this. Neither did credit or income verification checks before agreeing to lend a lot of money. Heck, I initially financed $46,000 minus down payments and they didn't ask my age, work status, income level, credit history... nothing! Not unlike mortgages given out during the Bush years. How the Jets did this was the epitome of fiscal irresponsibility.. but I shudder to think how many PSL buyers would have been declined by the financing entities behind the Jets. It is beyond me how those entities that financed the stadium for the jets and Giants allowed the teamss to lend money without doing credit/income verifications. The Giants will have way fewer defaults, notwithstanding the extra 23,000 PSLs in the upper deck, because its fan base is older and more established. The Jets, on the other hand, were desperate to fill this stadium so agreed to lend money to anyone who was willing to sign on the dotted line.

In the end, they have no business not expecting a massive number of defaults. It's entirely their own fault. I have no sympathy for them.

I personally know a few people who bought PSLs and used the grandpa or grandmas name. No charge to transfer between family members and good luck chasing down old folk for money and in contract it states upon death of PSL holder any remaining balance dies too.

We all should have pick names from local nursing home