What would happen if the PSL owners on 10 year plans just stop paying?

[NobisFan60 558]

And bought one off tickets from the 2nd market vendors? I think a lot of people didn't shell out the entire 90K or 11K in one pop. 

[esmithidoc 499]

They would lose their PSL and any money paid up to that point.

[EddieK 3,245]

Plus, have sh*tty credit for the next 7 years.

[NobisFan60 558]

I guess there's that.

Edited October 18, 2017 by lidsville_falcon

[Mgaffar 13]

No credit check involved.

[octoslash 18,179]

You can kiss the $2 hotdog goodbye, that's what.

[notthatcool 2,475]

I've kicked around the idea of not paying for my PSL anymore as well.

My balance is due in February.  

[aerosmith67 2,468]

Look at the quotes from this story and imagine how it WON'T happen in Atlanta eventually. 

 

http://www.mercurynews.com/2016/12/16/diehard-49ers-fans-speak-out-yorks-are-the-trumps-of-football-hoodwinked-miserable/

 

Quote

Please keep the heat on the 49ers. I am an SBL owner and I can’t even sell my $20,000 seats for $2,000 each. I am 68 years old and a 49er fan since moving here in the 70’s and I have been hoodwinked.

Thomas F. Powers

 

We would gladly like a refund. We regret being conned into purchasing our three seats. Even though I love the Niners, I am pretty upset with their decisions of coaches and players. There are no perks in owning seats. I just wish I could turn back time and not become season ticket holders.

Tu Nguyen and Linda Tang

 

 

Now this article is about the lousy product on the field but with the PSL 30 year commitment, the age of Blank and the uncertain future of any professional team, how could this not be a potential issue down the road?  

[Old fan 324]

I didn't buy a PSL, so I may not know all the details, but it seems to me that selling yours for whatever you can get on the secondary market could be better than just defaulting. Whatever loses the least amount of money.

The way I see it, the franchise has their PSL money and a 30-year captive audience. What motivation do they have to put a product on the field that sells tickets? Theoretically, they have sold out for the life of the stadium and can charge whatever they want for season tickets after year 3.

Am I over-simplifying the problem?

[papachaz 18,838]

6 minutes ago, Old fan said:

I didn't buy a PSL, so I may not know all the details, but it seems to me that selling yours for whatever you can get on the secondary market could be better than just defaulting. Whatever loses the least amount of money.

The way I see it, the franchise has their PSL money and a 30-year captive audience. What motivation do they have to put a product on the field that sells tickets? Theoretically, they have sold out for the life of the stadium and can charge whatever they want for season tickets after year 3.

Am I over-simplifying the problem?

being realistic and not trying to be overly mean spirited, but there are a LOT of posters here who need it spelled out as simple as possible   

[Kaptain Krazy 3,787]

7 minutes ago, Old fan said:

I didn't buy a PSL, so I may not know all the details, but it seems to me that selling yours for whatever you can get on the secondary market could be better than just defaulting. Whatever loses the least amount of money.

The way I see it, the franchise has their PSL money and a 30-year captive audience. What motivation do they have to put a product on the field that sells tickets? Theoretically, they have sold out for the life of the stadium and can charge whatever they want for season tickets after year 3.

Am I over-simplifying the problem?

no, you got it right. The PSL fee was a one-time charge. People who have already paid down some of the money would be better off paying the remainder and selling their season tix on the secondary market. 

[TheFalcoholic 4,028]

I'd rather build a NICE man cave than purchase a PSL. That's just me though. 

[HouseofEuphoria 3,695]

On 10/19/2017 at 10:41 AM, octoslash said:

You can kiss the $2 hotdog goodbye, that's what.

Lmao, this is great.

[NobisFan60 558]

1 hour ago, Old fan said:

I didn't buy a PSL, so I may not know all the details, but it seems to me that selling yours for whatever you can get on the secondary market could be better than just defaulting. Whatever loses the least amount of money.

The way I see it, the franchise has their PSL money and a 30-year captive audience. What motivation do they have to put a product on the field that sells tickets? Theoretically, they have sold out for the life of the stadium and can charge whatever they want for season tickets after year 3.

Am I over-simplifying the problem?

You'd have to sell them for the remainder of the balance and if you're only in it for $1100 it's going to be hard to find someone willing to pay the remaining $9900 + $3500 for the tickets. Best to walk away if you don't want to be a STH let Arthur Blank deal with it. Atlanta isn't a town for PSL's. 

[Old fan 324]

21 hours ago, TakkSakkAttakk said:

You'd have to sell them for the remainder of the balance and if you're only in it for $1100 it's going to be hard to find someone willing to pay the remaining $9900 + $3500 for the tickets. Best to walk away if you don't want to be a STH let Arthur Blank deal with it. Atlanta isn't a town for PSL's. 

That makes it tough. I was thinking along the lines of timeshares where you sign it over to someone who is willing to take over payments.

I think I read somewhere that there were already 2,000 defaults. 

[Mega Flare 5,544]

[JG2008 987]

On 10/18/2017 at 4:05 PM, TakkSakkAttakk said:

And bought one off tickets from the 2nd market vendors? I think a lot of people didn't shell out the entire 90K or 11K in one pop. 

perhaps there should be a new thread started where people that choose to stop paying can post the past due letters and other correspondence they receive trying to get them to pay  

[putnam6 4,963]

It would depend on how much you already paid into it? but even then you got 30 years of tickets to buy and then sell. I'd bet it's going to be a buyers market for Falcons tickets for a longtime, doubt you'd be able to recoup just face value on tix for the whole season this year especially now, then you got next year which will be worse unless a miracle happens...I'd cut your losses now.

 

[zzfrow 673]

Actually they would be sued, or could be sued by the falcons.  When you purchased that PSL, you signed a contract and that contract is a legally binding document.  Now technically the team probably would just revoke their PSL and that would be the end of it and whatever monies they have paid to that point would be forfeited,  But being in breach of contract is not something to take lightly.  

Edited October 23, 2017 by zzfrow

[putnam6 4,963]

41 minutes ago, zzfrow said:

Actually they would be sued, or could be sued by the falcons.  When you purchased that PSL, you signed a contract and that contract is a legally binding document.  Now technically the team probably would just revoke their PSL and that would be the end of it and whatever monies they have paid to that point would be forfeited,  But being in breach of contract is not something to take lightly.  

That would be a public relations nightmare for the Falcons #1 on top of them alienating a lot of their long term fans to begin with #2 unless it's 10,000 people defaulting the Falcons just eat it,difficult for them to say they lost money because they still have a significant inventory of PSL's to sell any way. #3 they have already let people default without litigation and put them back in inventory to sell. 

[NobisFan60 558]

24 minutes ago, putnam6 said:

That would be a public relations nightmare for the Falcons #1 on top of them alienating a lot of their long term fans to begin with #2 unless it's 10,000 people defaulting the Falcons just eat it,difficult for them to say they lost money because they still have a significant inventory of PSL's to sell any way. #3 they have already let people default without litigation and put them back in inventory to sell. 

People in SF are just not paying for the season tickets and losing their PSL. I can't say as I blame them 30K per PSL in the End Zone + $350 tix per psl every game? That's why that POS stadium was build in Silicon Valley and not on the Candlestick site, more money in Santa Clara. 

Falcons didn't even get your SSN when you signed up for the PSL.

[Old fan 324]

Based on what I have read, the PSLs for sale on sites like PSLsource are fully paid up?  Anyone wanting to sell has to pay off the account?

[notthatcool 2,475]

Impressive line-up.  Add recently announced MLS all star game too.  

[Flying Falcon 9,264]

On 10/19/2017 at 1:55 PM, aerosmith67 said:

Look at the quotes from this story and imagine how it WON'T happen in Atlanta eventually. 

 

http://www.mercurynews.com/2016/12/16/diehard-49ers-fans-speak-out-yorks-are-the-trumps-of-football-hoodwinked-miserable/

 

 

Now this article is about the lousy product on the field but with the PSL 30 year commitment, the age of Blank and the uncertain future of any professional team, how could this not be a potential issue down the road?  

Is this from this year?

[Mega Flare 5,544]

21 minutes ago, Flying Falcon said:

Is this from this year?

 

On 10/19/2017 at 1:55 PM, aerosmith67 said:

Look at the quotes from this story and imagine how it WON'T happen in Atlanta eventually. 

http://www.mercurynews.com/2016/12/16/diehard-49ers-fans-speak-out-yorks-are-the-trumps-of-football-hoodwinked-miserable/

Now this article is about the lousy product on the field but with the PSL 30 year commitment, the age of Blank and the uncertain future of any professional team, how could this not be a potential issue down the road?