Originally featured on BroadcastEngineering.com
Meadowlands Stadium offers the new face of sports luxury
The New York Giants are leading the way in selling luxury at its new stadium. Personal seat licenses start at $1000 each for 26,179 upper-deck seats and increase to $20,000 apiece for 4162 lower-level field seats.
The new stadium for the N.Y. Giants and Jets, under construction in the Meadowlands in East Rutherford, N.J., and scheduled to open in 2010, sets new standards for prices and fan luxury.
For example, the Coach’s Club, features $700-a-game seats, as well as a restaurant (with free food), bars (not free), and television sets in an area behind the seats. It will also have a glassed-off area where fans can watch reporters grill players and coaches after games.
Between the highest and lowest prices that fans must pay for the rights to keep their season tickets are fees that range from $4000 each for 10,905 mezzanine seats above each end zone to $12,500 each for 3052 mezzanine club seats overlooking the sidelines.
The Giants are selling licenses to every seat in the $1.6 billion stadium they are building with the Jets, and will generate about $367 million if it sells all 78,448 licenses. After taxes, about half of the revenue will go toward paying down the Giants’ stadium debt.
The advent of seat licenses will also usher in higher ticket prices. Tickets for Giants’ home games next season range from $85 to $115 a game. In 2010, they will start at $85 (for the upper level seats above the end zones); increase to $95, $105, $120, $140 and $160, and then make the leap to $400 and $500 each for the 7085 mezzanine club seats.