The Oakland Raiders have adjusted prices for certain personal seat licenses (PSLs) bought for the move to its new stadium in Las Vegas, but the NFL American football franchise has maintained the decision represents a “smoothing out” of the price structure rather than an overall reduction.
PSLs guarantee holders the right to purchase season tickets and the Raiders are said to be expecting to surpass an initial target of $250m (£193.5m/€220.3m) in revenue from this source to help finance its $1.1bn contribution to the $1.8bn stadium project.
Raiders president Marc Badain told the Las Vegas Review-Journal newspaper that the team wanted to iron out pricing levels in some sections of the stadium and issued “a couple hundred” notices to some fans offering a refund of part of the payments they have made before entering the next phase of PSL sales, which are due to begin by the end of the month.
“When we looked at the pricing and were finalising Phase 3, there were some inconsistencies among sections that we wanted to rectify so there weren’t big gaps between sections and that’s what we did,” Badain said.
The current phase of PSL sales have ranged from $3,900 to $75,000 per seat, with the Raiders marketing licenses over a 30-year term for season tickets and playoff tickets. The Journal said the third phase of sales is expected to include lower-cost PSLs starting at $500 per seat.
“We broke the ticket sales into three phases,” Badain added. “Phase 1 was the club seats and those are gone. Phase 2 was on sale since summertime and that’s pretty much done. Phase 3 is going on sale at the end of this month.”
In March 2018, the Raiders signed a lease deal with the Las Vegas Stadium Authority to build its new venue in Nevada. The deal was signed exactly a year after NFL owners gave the Raiders the green light to move from Oakland to Las Vegas.
The stadium will have a capacity of 65,000 and is projected to cost $1.8bn to build. It is hoped the venue will be ready in time for the 2020 NFL season.
Image: Las Vegas Stadium
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