The New York Yankees will announce Monday morning that it is transferring its resale business, Yankees Ticket Exchange, to StubHub, which will take over for Ticketmaster as the team's new fan-to-fan ticket exchange.
Financial terms were not available, but the business is believed to be worth more than $100 million to the Yankees over the term of the agreed to contract.
The deal brings to an end a long battle between the team and StubHub, which began when the Yankees were one of two teams -- along with Los Angeles Angels -- to opt out of Major League Baseball's deal with the secondary ticket market maker.
It also ends a controversial move the Yankees and Ticketmaster made at the start at the season, when it banned print at home ticketing and PDF's in favor of mobile transfer.
The public reasoning for doing so was fraud, as PDF's can be printed many times and the first to scan in gets in while the others get denied. But the move also benefited Ticketmaster, since StubHub does not allow for mobile transfer because it doesn't have access to the bar codes like Ticketmaster, as the official partner, did.
What this meant was that if someone wanted to sell a ticket on StubHub, they had to get it to StubHub's office by Yankee Stadium by the day of the game at the latest. It was an inconvenience at best for a business that has become known for its ease.
For those who then bought the tickets, they would have to pick up their tickets at a StubHub office located more than a half a mile away from Yankee Stadium.
The deal will close that StubHub office, but it is not known yet how transfer will work between StubHub and the Yankees under the new deal, which will begin after the All-Star Game.