Page 1 of 4 123 ... LastLast
Results 1 to 20 of 64

Thread: Corporations Wasted Estimated 43% of Sports Tickets Last Year

  1. #1
    Jets Insider VIP
    Join Date
    Dec 2005
    Location
    Phoenix, AZ (Jets Stadium Section 246)
    Posts
    35,759
    Post Thanks / Like

    Corporations Wasted Estimated 43% of Sports Tickets Last Year

    [url]http://www.cnbc.com/id/33182576[/url]

    [QUOTE][B]Corporations Wasted Estimated 43% of Sports Tickets Last Year[/B]

    DARREN ROVELL, SPORTSBIZ, SPORTS, CNBC, CNBC.COM, BLOG, SPORTS BUSINESS

    Posted By: Darren Rovell | Sports Business Reporter
    cnbc.com

    | 05 Oct 2009 | 05:08 PM ET

    One of the most highly scrutinized pieces of spending by public companies during the economic downturn was sports sponsorship and bringing clients to live sporting events.

    And it made sense. Companies that said they used sports to do business didn’t do a particularly good job of publicly rationalizing that spend.

    Enter Corporate Events Group, one of a select group of companies that has helped businesses at least internally understand the return on their investment from doing business at the game.

    Because of inefficiencies, starting at how companies hold and manage the ticket process, 43 percent of tickets bought by corporations went unused in 2008, according to Anthony Knopp, vice president of business development for the company.

    Knopp’s company offers a Web-based portal that manages a company’s entire group of ticket holdings. Employees then log on and make requests and are evaluated based on specific business purpose and sometimes quality of guest and the amount of business at stake.

    The portal also gives the user the opportunity to buy tickets on sites like StubHub if the internal tickets aren’t ideal. Anything taken through the internal system, including tickets bought through secondary sites on the portal, are immediately entered into the company’s database. A company also has the ability to enter the business that was done off a particular meeting at a game so that it can better monitor the return.

    Knopp said the downturn has helped the company’s business, as keeping track of spending at every level has become more important.

    “For years, a lot of companies told us that they had bigger fish to fry than keep track of their sports tickets and how they are used,” Knopp said. “And our response was always, ‘Do you have any other marketing campaigns that you spend $10 million on, that you don’t track?”

    The database allows companies to sort by clients taken to the game, the executive who takes them, as well as the team and the venue where most of the business takes place. It also helps companies compile a comprehensive list of their spending for the tax deduction that they can take from going to the game as a business expense.

    Knopp says Corporate Events Group has 12 companies that spend more than $4 million on tickets as clients, as well as a host of brands that spend less.

    “We had one company that had Tampa Bay Rays tickets and used 9 percent of the total inventory on the season,” Knopp said. “That investment obviously had to be scaled back. We think that it’s realistic for a company to use between 78 and 85 percent of the tickets they buy.[/QUOTE]

    I should probably throw this in the PSL ticket sales thread too. Might help explain the hard time the Jets are having selling Club Level PSLs for the new stadium.

  2. #2
    Banned
    Join Date
    Jun 2009
    Posts
    469
    Post Thanks / Like
    Since companies can write tickets off as a business expense it gives them an unfair advantage over regular fans in buying tickets. I think this should be ended and I also think everything associated with "entertaining clients" should stop being a tax write off. This country needs so many regulatory reforms its insane.

  3. #3
    Veteran
    Join Date
    Apr 2003
    Posts
    2,217
    Post Thanks / Like
    [QUOTE=Ryan Boru;3292143]Since companies can write tickets off as a business expense it gives them an unfair advantage over regular fans in buying tickets. I think this should be ended and I also think everything associated with "entertaining clients" should stop being a tax write off. This country needs so many regulatory reforms its insane.[/QUOTE]

    As a business owner...You can only write off 20% of the ticket cost.

    Not enough of a "write off" to be the reason of purchasing tickets and PSL cannot be written off at all.

  4. #4
    Jets Insider VIP
    Join Date
    Sep 2005
    Location
    NC
    Posts
    18,353
    Post Thanks / Like
    [QUOTE=Bleed Green;3292162]As a business owner...You can only write off 20% of the ticket cost.

    Not enough of a "write off" to be the reason of purchasing tickets and PSL cannot be written off at all.[/QUOTE]

    50 percent....not 20 percent but I agree with you fundamentally and you are correct, PSL's are NOT deductible.

    That said, where do we stop. I say that "Budweiser" should NOT be allowed to advertise at sporting events. They write it off and raise beer prices and I LIKE beer.

    That is tongue and cheek of course but why is it different?????

    Why does HONDA pay $2 million to sponsor a golf event????

  5. #5
    Banned
    Join Date
    Sep 2007
    Posts
    2,875
    Post Thanks / Like
    [QUOTE=southparkcpa;3292288]50 percent....not 20 percent but I agree with you fundamentally and you are correct, PSL's are NOT deductible.

    That said, where do we stop. I say that "Budweiser" should NOT be allowed to advertise at sporting events. They write it off and raise beer prices and I LIKE beer.

    That is tongue and cheek of course but why is it different?????

    Why does HONDA pay $2 million to sponsor a golf event????[/QUOTE]

    C'Mon southpark, I know numbers confuse you, but you still really blew this one. As a business owner myself, I can write off 50% of the ticket cost as an expense. Given the current corporate tax rates, that means that approximately 20% of the ticket price comes off my tax bill. So Bleed Green is absolutely correct and you sir, are wrong. Hopefully, anyone that has you do their taxes misses this post.:rolleyes:

    Oh, and GFY.

  6. #6
    Hall Of Fame
    Join Date
    Aug 2004
    Posts
    21,180
    Post Thanks / Like
    [QUOTE=Ryan Boru;3292143]Since companies can write tickets off as a business expense it gives them an unfair advantage over regular fans in buying tickets. I think this should be ended and I also think everything associated with "entertaining clients" should stop being a tax write off. This country needs so many regulatory reforms its insane.[/QUOTE]

    I've been saying this for years. I totally agree.

  7. #7
    All Pro
    Join Date
    Jun 2009
    Posts
    1,926
    Post Thanks / Like
    [QUOTE=southparkcpa;3292288]50 percent....not 20 percent but I agree with you fundamentally and you are correct, PSL's are NOT deductible.

    That said, where do we stop. I say that "Budweiser" should NOT be allowed to advertise at sporting events. They write it off and raise beer prices and I LIKE beer.

    That is tongue and cheek of course but why is it different?????

    Why does HONDA pay $2 million to sponsor a golf event????[/QUOTE]

    pass math before you "attempt" to talk numbers

  8. #8
    Jets Insider VIP
    Join Date
    Sep 2005
    Location
    NC
    Posts
    18,353
    Post Thanks / Like
    [QUOTE=Gholstons Revenge;3292336]pass math before you "attempt" to talk numbers[/QUOTE]

    Dude..... why the hate???

  9. #9
    JetsInsider.com Legend
    Join Date
    Mar 2005
    Posts
    49,999
    Post Thanks / Like
    [QUOTE=southparkcpa;3292288]50 percent....not 20 percent but I agree with you fundamentally and you are correct, PSL's are NOT deductible.[/QUOTE]

    Holy Crap. Are you really a CPA? :eek:

  10. #10
    Jets Insider VIP
    Join Date
    Sep 2005
    Location
    NC
    Posts
    18,353
    Post Thanks / Like
    [QUOTE=FF2®;3292341]Holy Crap. Are you really a CPA? :eek:[/QUOTE]

    I work in a dry cleaners.

    C leanings
    P ressings
    A lterations
    Last edited by southparkcpa; 10-06-2009 at 10:13 AM.

  11. #11
    Banned
    Join Date
    Sep 2007
    Posts
    2,875
    Post Thanks / Like
    [QUOTE=southparkcpa;3292344]I work in a dry clears.

    C leanings
    P ressings
    A lterations[/QUOTE]

    That's your best post in a month!:D

  12. #12
    Jets Insider VIP
    Join Date
    Sep 2005
    Location
    NC
    Posts
    18,353
    Post Thanks / Like
    [QUOTE=Vinny Patrollie;3292347]That's your best post in a month!:D[/QUOTE]

    This one is better....

    C hronic
    P ain
    A ss

  13. #13
    Jets Insider VIP
    Join Date
    Dec 2005
    Location
    Phoenix, AZ (Jets Stadium Section 246)
    Posts
    35,759
    Post Thanks / Like
    [QUOTE=Ryan Boru;3292143][B]Since companies can write tickets off as a business expense it gives them an unfair advantage over regular fans in buying tickets.[/B] I think this should be ended and I also think everything associated with "entertaining clients" should stop being a tax write off. This country needs so many regulatory reforms its insane.[/QUOTE]

    [url]http://www.youtube.com/watch?v=rCZRqH7sRyA[/url]

  14. #14
    Hall Of Fame
    Join Date
    Jan 2005
    Posts
    15,550
    Post Thanks / Like
    [QUOTE=Vinny Patrollie;3292298]C'Mon southpark, I know numbers confuse you, but you still really blew this one. As a business owner myself, I can write off 50% of the ticket cost as an expense. Given the current corporate tax rates, that means that approximately 20% of the ticket price comes off my tax bill. So Bleed Green is absolutely correct and you sir, are wrong. Hopefully, anyone that has you do their taxes misses this post.:rolleyes:

    Oh, and GFY.[/QUOTE]

    Corporate tax rates are between 15-38%. This thread is a major fail.

  15. #15
    Jets Insider VIP
    Join Date
    Jan 2005
    Posts
    14,791
    Post Thanks / Like
    A major fail? Let's talk about the sales guy who care less what he pays for the tix because he gets it back from the company? The guy who walks out at halftime and doesn't know what the score is or will be? He/she goes on stubhub and pays 200.00 for a 100.00 ticket and could care less because it doesn't cost him anything.
    You think that has effected the current ticket prices?

    [QUOTE=BrooklynBound;3293535]Corporate tax rates are between 15-38%. This thread is a major fail.[/QUOTE]

  16. #16
    All League
    Join Date
    Apr 2007
    Location
    Breckenridge, CO
    Posts
    3,940
    Post Thanks / Like
    I love it when your at a game and they say tonights attendance is...... and the whole lower bowl is empty, yet the top is packed. This is really apparent at hoop and hockey games.

    Corporations own all the lower seats and they are rarely used. Now with aqll the PSL's and corporations all the fans are going to be in the upper corner endzone seats:eek:

  17. #17
    All Pro
    Join Date
    Jan 2006
    Location
    Murray Hill
    Posts
    7,461
    Post Thanks / Like
    I want to vomit when I see how expensive it is to go to a single football game when you include parking and food. I went often with my dad as a kid and it just doesn't seem worth it to take my son in the future.

    Some guys in the league are getting nearly million dollar paychecks. How many of us does it take going through the terrible traffic, paying $20 to park in a swamp, getting ripped off at every corner to pay this one player for a week of work?

    It disgusts me. I love football. But the effort and expense of going to a game is prohibitive on principal as well as pragmatics. The worst part is that if enough of us feel this way and can't pay their ridiculous asking price they will black out the games so I can't watch them and their 2 hours of commercials.....commercials, kickoff, commercials. :mad:

    The corporate types can keep the tix so I can continue to watch the games on my bigscreen without all the hassle.

  18. #18
    Hall Of Fame
    Join Date
    Jan 2005
    Posts
    15,550
    Post Thanks / Like
    [QUOTE=cr726;3293572]A major fail? Let's talk about the sales guy who care less what he pays for the tix because he gets it back from the company? The guy who walks out at halftime and doesn't know what the score is or will be? He/she goes on stubhub and pays 200.00 for a 100.00 ticket and could care less because it doesn't cost him anything.
    You think that has effected the current ticket prices?[/QUOTE]

    What does that have to do with what I quoted?

    Supply/demand affects prices, you're right. Peeps don't have a right to see a game at a price that they deem is reasonable.

  19. #19
    Jets Insider VIP
    Join Date
    Jan 2005
    Posts
    14,791
    Post Thanks / Like
    Especially when their company is paying the bill.

    [QUOTE=BrooklynBound;3293654]What does that have to do with what I quoted?

    Supply/demand affects prices, you're right. Peeps don't have a right to see a game at a price that they deem is reasonable.[/QUOTE]

  20. #20
    All League
    Join Date
    Apr 2007
    Location
    Breckenridge, CO
    Posts
    3,940
    Post Thanks / Like
    [QUOTE=David Harris;3293648]I want to vomit when I see how expensive it is to go to a single football game when you include parking and food. I went often with my dad as a kid and it just doesn't seem worth it to take my son in the future.

    Some guys in the league are getting nearly million dollar paychecks. How many of us does it take going through the terrible traffic, paying $20 to park in a swamp, getting ripped off at every corner to pay this one player for a week of work?

    [B]It disgusts me. I love football. But the effort and expense of going to a game is prohibitive on principal as well as pragmatics. The worst part is that if enough of us feel this way and can't pay their ridiculous asking price they will black out the games so I can't watch them and their 2 hours of commercials.....commercials, kickoff, commercials. [/B]:mad:

    The corporate types can keep the tix so I can continue to watch the games on my bigscreen without all the hassle.[/QUOTE]


    I dont know the economy of Jacksonville, but folks are not going to the game, so it gets blackedout, however I see their answer to this problem is eventually packing up that franchise and moving it to L.A. or San Antonio, so the fan continues to suffer, and the owner makes out still.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Follow Us