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


NobisFan60
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19 hours 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. 

I mean it's happened before, it just depends on how much a jerk the owner or ownership group wants to be: 

 

Not necessarily a PSL program but it's essentially a long term STH agreement. 

 

Redskins suing fans who can't keep their season tickets  (2009)
http://www.sportingnews.com/nfl/news/114856-redskins-suing-fans-who-can-t-keep-their-season-tickets

 

Quote

The Washington Redskins have sued 125 season ticket holders who asked to be released from multiyear contracts in the past five years, the Washington Post reports.

The newspaper says it interviewed more than 20 of those season ticket holders, and most said they had lost a job or experienced some other financial hardship. Redskins lawyer David Donovan told the newspaper lawsuits are a last resort and that they involve only a small percentage of the team’s 20,000 annual premium seat contracts.

 

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2 minutes ago, putnam6 said:

It's still slimey even for Dan Snyder but according to this article the majority were club seats and suites 

http://www.nbcwashington.com/news/local/Skins-Downplay-Post-Report-About-Suing-Over-Suite-Seats-56770332.html

Then the small fries may feel comfortable walking away.  The front office may not mind, until they find out that their ace in the hole (being able to resell PSL's to other buyers) is a 4 of Clubs.

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On 10/19/2017 at 10:53 AM, notthatcool said:

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

My balance is due in February.  

I bought club level tix back in like 2000 it was a 10 year deal with like a $2-$3k deposit.  Loved them, 2nd row 46 yrd line.  We had them during the entire MV7 era.  When Blank hired Petrino, I laughed and gave them up and obviously lost my deposit.  However, I did the math and I knew Petrino would be a failure and Blank/McKay would keep him for at least 3 years (if not longer) before firing him. I was in year 7 so that would mean my next 3 years would be miserable, then it would be time to renew, at higher prices of course... so I said F that and gave up my deposit and canceled my contract.  

I won't buy season tix again and no PSL's.  If the team is good and I want to go to a game, I can pay for those few games I want to go to.  If they suck and front office does stupid things, I can just watch on TV with my own supply of whiskey.  

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On ‎10‎/‎22‎/‎2017 at 5:29 PM, Kaptain Krazy said:

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. 

That would work if the Falcons start winning. If not, there won't be a secondary market. I couldn't afford a PSL so I planned to attend a game or two buying game day tx. After seeing what I saw with the Patriots, no way Jose. I'll stay home and watch it on TV and if things go bad I'll just turn it off.

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22 minutes ago, Mega Flare said:

Then the small fries may feel comfortable walking away.  The front office may not mind, until they find out that their ace in the hole (being able to resell PSL's to other buyers) is a 4 of Clubs.

This thread might be relevant for Falcons fans weird thing is it notes the GWCC not the Falcons

https://boards.atlantafalcons.com/topic/4040555-psl-phase-7-collection-activities-against-defaulting-psl-buyers/?page=2

 

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I've never understood PSL's from the Buyer's perspective.  I get them from the point of view of the Seller...lock in a revenue stream, etc.

I guess you have to do the Math to figure out the economic advantages and disadvantages if you're a Buyer, but it seems to me that the idea was built on the concept that the Owner could sell "prestige" in the form of an affiliation with the Team's Brand by owning a "License" to a "Personal Seat."  My Jets did that...not a good role model...

I've never seen a Falcons' PSL contract, but my best guess would be that defaulting on PSL payments probably means you lose your seat and the money you've already forked over.  I don't think that the team is going to set a Collections Agency on its fans or make reports to credit agencies.  If the Contract allows it, you could probably sell the license to a third party, but I don't know how the details would work on that...

But, I wouldn't be expecting any Holiday Cards from Arthur Blank in the near future, if I defaulted...

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2 hours ago, shc said:

Where is esmithiedoc when you need him

Well, since you asked...

I am amazed at how fast diehard fans are bailing on this team. I see this year after year, including last year before we made our Super Bowl run. Purchasing a PSL is a personal decision. It is not a good decision for many people, but in my case, I felt that it was the right thing to do. I did not purchase a PSL because I thought that the Falcons were going to be Super Bowl winners every year, but because I wanted to have access to great seats and amenities for as long as I wanted. Regretting a PSL purchase because your financial situation changes makes sense; regretting it because the Falcons start your first year as a ticket holder only 3-3 is idiotic. If you only planned to go to games when the team was playing great, then you should never have purchased a PSL; you are living in a dream world that will never satisfy you.

I love going to games whether we win or not (of course, I prefer winning). I am amused at the references to Atlanta not being able to support PSLs. In fact, almost all of the PSLs (if not all of them) have been sold. There was a mention of 2,000 PSLs going into default in an earlier post. I have no idea if that is true, but if it is, that is only a 3-4% default rate, which seems like a very small number to me. If the PSLs that are defaulted on are to seats that are good, then I assume they would be repurchased immediately. You could actually flip those for a profit now if you sold them on the secondary market.

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All you whiners and cry babies will regret not having PSLs. Falcons will win a Super Bowl in the next 5 years. No doubt in my mind. I am a Proud PSL owner and will support my team loudly for the next 30 years. We’re 3-3 for ****s sake.. you guys act like the season is already over. 

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I believe you can sell your PSL's but if you've only put down the minimum, its going to be hard to sell them off so early.  If you let it go, someone else will buy them full price so I would still make the payments, put them up for sell and wait til someone can actually purchase them instead of letting them go.  At least then you'll get back some of your money.

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If anyone bought PSLs not knowing they were never going to recoup that initial 'investment' then I feel for you.

The best part will be in 2 seasons when they raise season ticket prices across the board. 

Sometimes you have to cut your losses.

Last year was probably the best Falcons team we will ever see in our lifetime and more than likely the best one Dan Quinn will ever coach... and they couldn't get the job done.

The defense isn't anywhere close to being good enough to carry the team and the offense is just going to get worse as Julio, Ryan, and Mack get older.

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48 minutes ago, Mgaffar said:

All you whiners and cry babies will regret not having PSLs. Falcons will win a Super Bowl in the next 5 years. No doubt in my mind. I am a Proud PSL owner and will support my team loudly for the next 30 years. We’re 3-3 for ****s sake.. you guys act like the season is already over. 

I love how people think getting a PSL equals better fan and the only way to support a team. There will always be tickets on the secondary market so the other people can attend games to. . First season at MBS coming off a NFC championship and there are great seats available. Great tickets to every home game remain with only the Dallas game being overly priced. Cant imagine a" real scenario" where tickets will be difficult to come by if they are not THIS YEAR. But heres hoping cause that means they are playing well . As for discussing thats what this boards are for, people are gonna have different viewpoints.

For me I grumble about a loss but come game day I'm watching and want them to play well, and yea I got my Falcons gear on.

Had season tickets from 77-93 loved going to the games, still do and can't wait to check out MBS. Looks like I can really pick any or all of the remaining games, and sit virtually any section cause they all have seats available.

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3 hours ago, esmithidoc said:

Not buying a PSL certainly doesn’t mean you’re not a great fan. Buying one does show a significant commitment to the team though. Claiming that the team will never be as good as last year is bailing on the team.

I'd say its re-evaluating how an individual spends his entertainment dollar. I just enjoy going to the games and them losing or playing badly wouldn't be enough to discourage me, lol it used to but I've grown immune from it lol. That said everybody is different and when you have 20,000-30,000 plus people purchase entertainment on installment plans some of them are going to have buyers remorse I understand that completely also. As far as PSL's go there is always a faction thats feels that way, its no different than some feeling that way when buying a home or a car especially when its a significant portion of your income and you end up with a clunker. Right or wrong the Falcons are at a point where they have alienated a significant portion of their fan base already with PSL's, and now the lackluster play just adds to it. As enthralling as MBS must be, theres enough people that get irritated with just the football aspect that its going to show at the turnstiles each week. 

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I bought 2 PSL's for $2,000 each for upper sideline in a low row. Right before the season ticket buying deadline I had 2nd thoughts and decided to put my PSL's up for sale on Craigslist for the same price I paid - $2000 each - and thank God someone bought them and I was able to get out whole. You can always buy back in on the secondary market and if this year keeps going the way it has so far there's going to be alot of people just trying to sell for the amount they still owe or in some cases perhaps as much as 50% discount to take a partial loss just to get out of the continuing financial obligation.

Edited by JG2008
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9 hours ago, JG2008 said:

I bought 2 PSL's for $2,000 each for upper sideline in a low row. Right before the season ticket buying deadline I had 2nd thoughts and decided to put my PSL's up for sale on Craigslist for the same price I paid - $2000 each - and thank God someone bought them and I was able to get out whole. You can always buy back in on the secondary market and if this year keeps going the way it has so far there's going to be alot of people just trying to sell for the amount they still owe or in some cases perhaps as much as 50% discount to take a partial loss just to get out of the continuing financial obligation.

Did you buy this season's tickets before you sold the PSL? I noticed a lot of PSLs for sale on PSLsource do not include this season's tickets. They are actually selling a 29 year PSL.

Seems like as each year passes, the intrinsic value will go down 3.3 percent. After 10 years, the PSL is good for 20 more years and worth only 2/3rds of the original price. Obviously, the market will affect the price. 

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On 10/24/2017 at 5:15 PM, Mgaffar said:

All you whiners and cry babies will regret not having PSLs. Falcons will win a Super Bowl in the next 5 years. No doubt in my mind. I am a Proud PSL owner and will support my team loudly for the next 30 years. We’re 3-3 for ****s sake.. you guys act like the season is already over. 

Child Pleaze! Falcons win the Super Bowl in the next 5 years? Crack is a heck of a drug.

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On 10/24/2017 at 6:00 PM, Sun Tzu 7 said:

If anyone bought PSLs not knowing they were never going to recoup that initial 'investment' then I feel for you.

The best part will be in 2 seasons when they raise season ticket prices across the board. 

Sometimes you have to cut your losses.

Last year was probably the best Falcons team we will ever see in our lifetime and more than likely the best one Dan Quinn will ever coach... and they couldn't get the job done.

The defense isn't anywhere close to being good enough to carry the team and the offense is just going to get worse as Julio, Ryan, and Mack get older.

This is probably the most realistic assessment of the Falcons i've seen.

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