The New York Jets took a big risk when they decided to become the first professional sports teams to auction off personal seat licenses (PSLs) on the Internet.
The Jets reported Monday that they sold 620 personal seat licenses for approximately $16 million dollars for an average sale of $26,000. More than 2/3rds of the seats the Jets put up for auction failed to reach their minimum bid. The PSLs were auctioned on ticket seller site Stubhub for the Coaches Club located at the 50-yard line and behind the Jets’ bench.
The highest priced PSLs were bid up in the auction’s final hours at $82,000 for front-row seats at the 45-yard line. Other winning bids included $65,100, $61,100, $60,500 and $55,500. Winning bidders must also pay $700 for each Jets ticket. The Jets will sell the remaining PSLs for the new stadium over the next few months. There are 27,000 upper level seats at the new stadium where Jets fans will not have to pay any PSL. The New York Giants’ most expensive PSLs will be sold at $20,000 per and will also sell PSLs for the upper level seats at $1,000 per.