Apr
28

Yanks halve prices on Legends Suite seats

By

After coming under fire from the media, Bud Selig, and the commission of Major League Soccer, the Yanks finally caved to reality and cut ticket prices on the Legends Suite seats today. The cut — around 50 percent for the top priced seats — is significant, and the team is hoping to fill seats that had been embarrassingly empty during the first home stand.

The Yankees have also implemented a whole slew of refund and complimentary ticket bonuses as part of this effort to solve a problem. After the jump is the full statement from Hal Steinbrenner (via YES blog), but first, a few thoughts of mine.

The Yankees priced the new stadium seemingly as a experiment in the open ticket market. Could a sports franchise sell an 81-game season ticket package at prices well beyond anything attempted in the sport? Baseball, after all, isn’t football with its very limited home season and demand that far outstrips supply. The Yanks tried to see if they could load up a ticket price with extras and access to fancy dining, fancy seats and fancy service.

In the 2009 economy, it didn’t work. When the Yanks set prices last summer, the team had no idea how the market fall would impact their targeted customers — New York City’s once-robust financial market. The team had no idea how the high prices would come to be viewed as part of the excess of an era behind us. Whether these seats would have sold in an up market is an experiment for another time.

In the end, the team was left with no choice. They had to lower the ticket prices or risk a summer’s worth of bad press. That they are also refunding previous buyers’ orders speaks volumes about this move. For the sake of an image, for the sake of fewer empty seats and more concession spending, the Yanks are making the right, but difficult, decision.

The following is Hal Steinbrenner’s statement via YES Blog:

“A few weeks ago I indicated that in light of the economy we would review the pricing of a small number of our premium locations at Yankee Stadium; specifically, our Suite Seats. I mentioned a small number of locations because in excess of 3.4 million seats, including 37,000 full season equivalents as well as approximately 85% of all our premium locations have already been sold. Yet, there are a few hundred Suite Seats in our premium locations that have not been sold on a full season basis.

As a result, and for many of our fans who have already purchased full season Suite Seats in such premium locations, the Yankees are announcing today a program that adjusts certain prices and benefits affecting such Suite Seats.”

For the 2009 regular season only, the following price adjustments and benefits are being adopted effective immediately for a few hundred Legends Suite and Delta Sky 360 Suite Licensees.

A. The full season Legends Suite and Ticket Licenses in the first row in Sections 15A, 15B, 24B and 25 will be reduced from $2,500 to $1,250 per regular season game. All fans who have purchased such full season Suite and Ticket Licenses will receive, at their choice, a refund or a credit.

B. The full season Legends Suite and Ticket Licenses in the first row in Sections 11, 12, 13, 27B, 28 and 29 will be reduced from $1,000 to $650 per regular season game. All fans who have purchased such full season Suite and Ticket Licenses will receive, at their choice, a refund or a credit.

C. All fans who purchased full season $2,500 Legends Suite and Ticket Licenses in the first row, in Sections 16 – 24A, will receive an equal number of complimentary Legends Suite Seats in the first row in Sections 16 – 24A for each of the remaining regular season games during the 2009 regular season.

D. All fans who purchased full season $1,250 Legends Suite and Ticket Licenses will receive an equal number of complimentary Legends Suite Seats in the $1,250 Legends Suite price category for 24 games during the 2009 regular season, as selected by the Yankees.

E. All fans who purchased full season $850 Legends Suite and Ticket Licenses will receive an equal number of complimentary Legends Suite Seats in the $850 Legends Suite price category for 8 games and in the $500 Legends Suite price category for 4 games during the 2009 regular season, as selected by the Yankees.

F. All fans who purchased full season $600 Legends Suite and Ticket Licenses will receive an equal number of complimentary Legends Suite Seats in the $500 Legends Suite price category for 10 games during the 2009 regular season, as selected by the Yankees.

G. All fans who purchased full season $500 Legends Suite and Ticket Licenses will receive an equal number of complimentary Legends Suite Seats in the $500 Legends Suite price category for 8 games during the 2009 regular season, as selected by the Yankees.

H. Future 2009 regular season sales of full season $1,250, $850, $600 and $500 Legends Suite and Ticket Licenses, will receive comparable (dependent upon the price of the Legends Suite and Ticket License) benefits during the 2009 regular season, subject to availability.

I. The Delta SKY 360 Suite and Ticket Licenses in the first row in Sections 218A – 222 will be reduced from $750 to $550 for each regular season game. All fans who have purchased such full season Suite and Ticket Licenses will receive, at their choice, a refund or a credit.

In addition, for 2009, so as to encourage fans to purchase full season ticket plans in the Field Level Sections 115 – 125, the Yankees are also adopting a program affecting a few hundred seats. And, for our fans who have already purchased, on a full season basis such Field Level seating priced at $325 Sections 115 – 125, the following program is being adopted effective immediately:

A. Going forward all fans when purchasing, on a full season basis, three (3) full regular season ticket plans priced at $325 per regular season game in Sections 115 – 125 will receive a fourth full regular season ticket at no additional cost.

B. All fans who have purchased full season plans priced at $325 per regular season game will receive complimentary regular season tickets within Sections 115 – 125 for remaining regular season games during the 2009 regular season as follows:

1. If you purchased two (2) or three (3) full season tickets you will receive two (2) tickets for every other regular season game, commencing with either the Thursday evening game on April 30, 2009 or the Friday evening game on May 1, 2009 and alternating for the remainder of the season.

2. If you purchased four (4) or five (5) full season tickets you will receive two (2) tickets for every regular season game during the balance of the 2009 regular season, commencing with the Thursday evening game on April 30, 2009.

3. If you purchased six (6) or seven (7) full season tickets you will receive three (3) tickets for every regular season game during the balance of the 2009 regular season, commencing with the Thursday evening game on April 30, 2009.

4. If you purchased eight (8) full season tickets you will receive four (4) tickets for every regular season game during the balance of the 2009 regular season, commencing with the Thursday evening game on April 30, 2009.

Categories : Yankee Stadium

52 Comments»

  1. Expired Milk says:

    Needs to lower it about half more to make me happy.

      • The news is that they reduced the price by half. But really they reduced the price to 1/4

        People who bought one ticket for 2,500 now have two tickets for 1,250. So they spent 625 dollars per ticket. Hopefully they sell those tickets that the Yankees just gave them so the seats aren’t empty.

        So I guess you got what you wanted.

        • Jack says:

          Wait, what?

          • “D. All fans who purchased full season $1,250 Legends Suite and Ticket Licenses will receive an equal number of complimentary Legends Suite Seats in the $1,250 Legends Suite price category for 24 games during the 2009 regular season, as selected by the Yankees.”

          • “C. All fans who purchased full season $2,500 Legends Suite and Ticket Licenses in the first row, in Sections 16 – 24A, will receive an equal number of complimentary Legends Suite Seats in the first row in Sections 16 – 24A for each of the remaining regular season games during the 2009 regular season.”

            -Sorry this is the quote I should have put in the first time.

          • “C. All fans who purchased full season $2,500 Legends Suite and Ticket Licenses in the first row, in Sections 16 – 24A, will receive an equal number of complimentary Legends Suite Seats in the first row in Sections 16 – 24A for each of the remaining regular season games during the 2009 regular season.”

            This is what I should have posted the first time.

    • Pel says:

      pffft…so spoiled.

  2. Scott of 3 Kids Tickets says:

    They should have given the seats away to charities….

    -Scott

  3. Chris A says:

    The tickets are still expensive, but this was a hard choice for the Yankees to make. However, it was the right choice. Let’s hope the stadium does not look so empty any more.

  4. jsbrendog says:

    so the question now becomes who the hell will pay 1250, instead of who the hell will pay 2500

    • Joe R says:

      Alot of people i’m sure.

    • Mike HC says:

      Yea … The prices are still ridiculous in my opinion. This reminds me of how my girlfriend shops. I love when my girlfriend tells me how great a deal she got on her new shoes. She tells me she paid $500!!! for them, and I’m like, “that is a deal?” Well, she says, “they were marked down from $1200. It is a joke.

      • Giuseppe Franco says:

        If people think the Yanks are going to lower their best seats to the $30-40 price range with a payroll over $200M for the last several years and a $1.5 Billion new home – well, you are living in the Land of Oz.

        All those big name free agents that the fans demand every year have come at a price, so people are going to have to learn to live with it since they helped create that monster.

        • Sal says:

          And more of your commercials…

        • Mike HC says:

          I agree to a certain extent, and I am not bitter that I can’t afford a good ticket. I can get the games on my HDTV and can sit in the comfort of my own home. I used to try to get to about 5 games a year, but this year, my goal is to get to just one.

        • “If people think the Yanks are going to lower their best seats to the $30-40 price range with a payroll over $200M for the last several years and a $1.5 Billion new home – well, you are living in the Land of Oz.”

          Dude, straw-man much? Nobody said they expect he Yankees to lower seat prices to that price range, that would be about a tenth of what similar seats cost in the old stadium. Not sure who you think you’re arguing with.

          • Giuseppe Franco says:

            The point is what people continue to complain about the premium ticket prices when these seats aren’t targeted for the average Joe anyways.

            • That’s fine, you can make that point without fabricating arguments and assigning those fabricated argument to those you’re arguing with.

            • andrew says:

              But the point you’re missing is that no front row seats at any stadium in the MLB are marketed towards the average Joe’s, yet our tickets are still nearly 150% higher than the next highest ticket in all of baseball.

              • Lanny says:

                It is capitalism and free markets at its best. Average Joe’s can sit in the front if they fork over the bucks.

              • Giuseppe Franco says:

                The Yanks can charge whatever the hell they want for these seats.

                As we’ve witnessed, if these seats aren’t selling – the Yanks will have to lower their prices – which is what they did.

  5. sjd says:

    more than the amount of people who would pay 2500, thats the idea

  6. sjd says:

    people pay those kinds of prices to go see the knicks for god’s sake.
    if price is equal im pretty sure the yankees provide better entertainment to say the least.

    • Mike HC says:

      Supply and Demand. Basketball has half as many home games, and MSG holds a lot less fans than Yankee Stadium, thus meaning less available seats. Also, location. One is located in Manhattan and the other in the Bronx. It does not make sense to have baseball tickets on par with basketball tickets.

      • Moshe Mandel says:

        A lot more demand for the Yankees than the Knicks, there are two sides to that equation. Considering the Yankees have been selling out their best seats for years, I would say the demand is pretty high even at high prices. The Yankees pushed that envelope, lost, and are now scaling back.

  7. Next on the list: doing something about the obstructed view seats.

  8. sjd says:

    nothing will be done about the bleacher cafe if thats what you are talking about, get use to it.

  9. Sal says:

    If they didn’t waste 40 mil on igawa this wouldn’t be a problem

  10. Sheesh, I make one misguided comment…

  11. Tripp says:

    Those $5 tickets also come with standing room tickets as well. I’ll pay $5 to go see a Yankee game and stand the whole time.

  12. mustang says:

    The prices are still too high, but at least the Yankees are now seeing that the loyalty of their fans has limits.

    “The Yankees priced the new stadium seemingly as a experiment in the open ticket market.”

    I disagree it was just plain greed. They were under the idea that people would pay anything to see the
    ” Greatest Franchise in History” in a new stadium. Sometime when you believe your own hype you end up with egg on your face. I hope the Yankees enjoy their omelet.

    “The point is, ladies and gentleman, that greed, for lack of a better word, is good”
    It didn’t work for wall street or the Yanks.

  13. Chris says:

    The only price that is cut in half is the license for the legends seats. I have not looked at the pricing, but I assume this is a one time PSL, like the Jets and Giants have. As for the actual tickets, you’re just getting an extra ticket. Of course, you can sell this ticket on stubhub and pocket some money, but in general you’re not getting your money on the tickets back.

    This sounds like a marketing gimmick to sell those high priced tickets. By dropping the licensing fee, it encourages people to buy this year instead of waiting til next year. The Yankees also get the PR benefit of saying they’re dropping the ticket prices without actually losing much (if any) money – the Yankees pick the games that you get the extra tickets to, so they’ll pick games and tickets that are unlikely to sell.

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