A personal seat license, or PSL, is a paid license that entitles the holder to the right to buy season tickets for a certain seat in a stadium. This holder can sell the seat license to someone else if they no longer wish to purchase season tickets. However, if the seat license holder chooses not to sell the seat licenses and does not renew the season tickets, the holder forfeits the license back to the team. Most seat licenses are valid for as long as the team plays in the current venue.
Seat licenses have been given various names. The most common term in North America is personal seat license and in Europe is debenture. The primary reason sporting venues offer PSLs is that the proceeds are used to help pay the debt incurred during the construction of the stadium or arena. Opponents of PSLs see this as another way to extract money from the sports fans.
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Origin of seat licenses
There are varying accounts as to the origin of the personal seat license.
According to one account, the first personal seat license plan was developed in 1986 at Stanford University by legendary tennis coach Dick Gould. Seeking financing for a new tennis stadium, Gould came up with the idea of selling the rights to seats, a licensing plan under which purchaser's name is engraved in the seat, and the purchaser owns the right to have first choice for tickets for any event held in the stadium.
According to a second account, the permanent seat license was invented by a Columbus, Ohio architect, Rick Ohanian, in January 1987. Ohanian described his plan in a Letter to The Editor of the Columbus Dispatch, published on March 2, 1987, entitled "Ticketbond is Answer to Financing Proposed Facility".
According to a third account, the permanent seat license was invented by Charlotte sports marketing agent Max Muhleman, in 1993. Muhleman is credited as the founder of the first PSLs at Charlotte's then Carolinas Stadium.
In 1969, the Dallas Cowboys used stadium bonds to finance the construction of Texas Stadium in Irving. The purchase of the bond entitled the bond holder to purchase season tickets for the Cowboys.
Others cite similar programs that were in existence among many college fund raising activities prior to 1987. However, the early programs were tax-deductible donations to a scholarship fund, in which case the main "quid-pro-quo" was between the donation and the resultant deduction, not between the donation and the actual seating rights.
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Sports teams and organizations employing seat licenses
Here is a list of some of the teams that have seat licenses:
NFL seat licenses
- Atlanta Falcons PSL (effective only at Mercedes-Benz Stadium, set to open in 2017)
- Baltimore Ravens PSL
- Carolina Panthers PSL
- Chicago Bears PSL
- Cincinnati Bengals COA (Charter Ownership Agreements)
- Cleveland Browns PSL
- Dallas Cowboys SL (Seat Licenses) (Effective at AT&T Stadium only.)
- Houston Texans PSL
- Minnesota Vikings SBL (Stadium Builder Licenses) (U.S. Bank Stadium only)
- New York Giants PSL (Effective at MetLife Stadium only. Buying Giants PSL does not give ticket rights for the Jets.)
- New York Jets PSL (Effective at MetLife Stadium only. Policies differ from the Giants. Buying Jets PSL does not give ticket rights for the Giants.)
- Philadelphia Eagles SBL (Stadium Builder Licenses)
- Pittsburgh Steelers SL
- San Francisco 49ers SBL (Stadium Builder Licenses)
- Seattle Seahawks CSL (Charter Seat Licenses)
- Oakland Raiders PSL (To be implemented when the team relocates to Las Vegas & the new stadium opens)
- Los Angeles Rams PSL (To be implemented when the new stadium opens)
- Tennessee Titans PSL
MLB Seat Licenses
- Arizona Diamondbacks Legacy Club Seat Licenses
- Minnesota Twins Legends Club Memberships (effective at Target Field only)
- San Diego Padres Founders Club Memberships
- San Francisco Giants CSL Charter Seat Licenses
- St. Louis Cardinals Ballpark Founders Club Seat Licenses
Car Racing Seat Licenses
- Auto Club Speedway PSL
- Kentucky Speedway PSL
- Texas Motor Speedway PSL
- Circuit of the Americas PSL
NHL Seat Licenses
- Columbus Blue Jackets PSL
- Toronto Maple Leafs PSL
NBA Seat Licenses
- Charlotte Hornets PSL
- Golden State Warriors Membership
- Instituted in 2017 for all season tickets at the team's future home of Chase Center, opening in 2019. The Warriors became the first NBA team with a broad-based PSL. The PSL, which runs for 30 years, can either be given back to the team or transferred at any time, although it cannot be sold for more than its face value, prorated for the number of years remaining on the license. At the end of the license period, the face value of the license will be returned to the original owner (or heirs) if it has never been transferred. If the license is transferred, the team must be notified of the price; if the price paid falls short of the full price less payments already made, the team will return the difference to the original owner at the end of the license period. The PSL operates as an interest-free loan to the team.
- Toronto Raptors PSL
- Used only for the best seats at Air Canada Centre; also provides rights for Maple Leafs tickets.
- Utah Jazz PSL
- Instituted in 1987 by then-owner Larry Miller only for courtside seats at the Salt Palace, with the upfront money used for team expenses. Not used at the team's current home of Vivint Smart Home Arena.
NRL SL
- Gold Coast Titans PSR (Personal Seat Right)
Source of the article : Wikipedia
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