ESPN – The Golden State Warriors are bringing the personal seat license to the NBA. Officials with the defending NBA champions acknowledged Wednesday that to get season tickets at the team’s new privately financed $1 billion Chase Center, which is slated to open in 2019, fans will have to pay a fee for the right to buy those tickets…The Warriors would return the money the fan paid for the right to buy tickets after 30 years. That essentially means the personal seat license, which will be called a “membership,” is acting as an interest-free, tax-free loan to the team for three decades. Fans can transfer or give back the license before the 30 years are up, so they aren’t required to commit to the full term, but they won’t get their money back until Year 30.
What. A. Scam. A Personal Seat License? Look as a business this is brilliant. Especially if people are dumb enough (and they are) to pay for this. Oh you want the right to buy tickets in this stadium we just built? Well thats gonna cost you. You need to pay me money for the right to pay me money. Genius.
But as a fan? Fuckkkk that. Again, Im sure the Golden State Warriors will have zero problem selling these in Silicon Valley, but I’m still pissed if I’m a fan. I essentially have to write you a check that you hold onto for 30 YEARS just so I can pay you thousands more per year for season tickets. This is like Ticketmaster on steroids. I despise Ticketmaster for this very reason. They’ve charged bullshit “convenience fees” and “maintenance fees” for years. $15 so I can print out one ticket at home? Kick rocks, Ticketmaster. I’ve been calling shenanigans on them for a decade. And now an NBA franchise is going to take this model and just RUN with it.
But, this is what happens when you have a $400M bill looming. The Warriors, by the grace of tax cap god, were able to fit Kevin Durant under the cap along with Steph Curry, Draymond Green and Klay Thompson, plus ya know the other 10 guys to fill a roster. Except what comes with massive amounts of payroll and multiple max contracts? Luxury taxes. What happens when you consistently go over the luxury tax? The League RAPES you on more taxes.
I saw a graphic on ESPN where Brian Windhorst and the crew were talking about how in 3 or so years, with all of the luxury taxes, if the Warriors keep their team together as currently constructed, their overall payroll would be $400 MILLION DOLLARS. Even for billionaire professional sports franchise owners, thats a tough pill to swallow.
So, as usual, might as well pass the buck along to the fan so he’s the one holding the bag. For 30 fucking years.