NFL teams are building the most expensive stadiums in history—a $1.6 billion palace in New York, a $1.2 billion home in Dallas, and a $1.2 billion stadium under construction in San Francisco. What is making it possible? Personal seat licenses, which give fans the right to buy season tickets—and are selling for as much as a small house.
Some fans are willing to shell out up to $150,000 for PSLs because they consider the licenses to be investments. With high demand for season tickets and a low supply of PSLs, fans figure PSLs will sell on secondary markets at a profit.
How has the theory held up? Until recently, PSL buyers did indeed profit from re-selling their PSLs. The average Steelers PSL is now worth eight times what it was 11 years ago, when the team opened Heinz Field, according to data from STR Marketplace, a website that processes secondary PSL sales. Ravens PSLs also shot up 243%, and Bears licenses increased 131%.
The metaverse personal seat license is single flat price, regardless of it being a 50 yard line seat in a large market or an endzone seat in a small market. There would obviously be more demand for seats with prime view, however, the pricing is intended to create more value for first in seat licensees who would ultimately have the highest risk.
