Monday, December 10, 2012
Yankees out of StubHub deal
By Wallace Matthews
Don't invite the New York Yankees and StubHub to the same party -- or the same baseball game for that matter.
As a team executive hinted last season, the Yankees have opted out of Major League Baseball's new five-year contract with the online ticket broker and soon will announce plans for a new alliance with Ticketmaster.
StubHub spokesman Glenn Lehrman says the Yankees, Los Angeles Angels and Chicago Cubs have opted out of the deal, which was renewed Monday by MLB.
According to a source with knowledge of the deal, the Yankees and Angels chose not to participate because they believe StubHub artificially deflates the value of their tickets on the secondary market.
"This new arrangement is going to be more favorable to season-ticket holders," the source told ESPNNewYork.com. "They'll pay much lower fees than they did to StubHub, and there will be more accessibility to tickets than there was before."
Last June, a Yankees team official told ESPNNewYork.com that professional ticket brokers were offering tickets for sale before they had even been printed, and "shorting" them on the market -- selling them for far below market value.
The StubHub arrangement worked out well for fans seeking tickets to single games -- Yankees tickets often were available for $10 or less on the day of a game -- but not so well for season-ticket holders who had paid full price and were looking to recoup some of their investment on the secondary market.
According to the source, Yankees tickets still will be available on StubHub, although with some unspecified restrictions.
"This is all about helping out our season-ticket holders," the source said. "Not StubHub."
Information from The Associated Press was used in this report.