Venue Detail
New York Jets
Revenues From Sports Venues Pro Facilities Report
February, 2012
New York Jets
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1000 Fulton Ave Hempstead, NY 11550-1099 Phone: 212-969-1800 URL: www.newyorkjets.com Owner: Robert Wood Johnson III League: National Football League, AFC East
Venue
MetLife Stadium, 102 Rte 120, East Rutherford, NJ 07073 Owner: New Meadowland Stadium Co. Managed by: Owner Built: 2010 Capacity: 82,500 Concessionaire: Sportservice Suite caterer: Sportservice Soft drink: Pepsi Cola Beer: Anheuser-Busch InBev
Naming rights
Sold to: MetLife Price: $438,000,000 Term: 25 years Expires: 2036
Ticket prices
Season tickets range from $650 to $800
Attendance
2009 average attendance: 77,052 2010 average attendance: 78,596 2011 average attendance: 78,986
Suites
Quantity: 200 Price: $150,000 to $500,000 Seats: 16 to 24
Club seats
Quantity: 9,300 Price: $2,500 to $7,500
Seat licenses
Giants fans seeking season tickets will be asked to pay upfront seat license fees ranging from $1,000 to $20,000 and individual ticket prices of $85 for upper-level seats to $700 for “Coach's Club” seats.
The licenses can be bought, sold or traded.
Obtaining season tickets in some 26,000 seats in the upper level will require an upfront seat license payment of $1,000. Individual ticket prices for those seats will be $85 and $95. Loge seats will cost $5,000 for a license and $105 per ticket.
Licenses for mid-bowl seats will cost $4,000 for end-zone seats, $7,500 for sideline club seats and $12,500 for midfield club seats. Those tickets will cost $120, $400 and $500, respectively.
In the lower bowl, licenses in the “Field 3" seats near the end-zone will cost $5,000 and $120 for a ticket. Sideline “Field 2" seats will cost $10,000 for a license and $140 for a ticket. “Field 1" seats near the 50 yard line will cost $20,000 for a license and $160 for a ticket.
The priciest seats will be in the “Coach's Club” near the 50 yard line, where seats will cost $20,000 for a license and $700 for a ticket.
There are 9,300 club seats.
Jets fans must pay between $4,000 and $25,000 for the right to buy season tickets.
The team hopes to raise $170 million by selling the personal seat licenses, owner Woody Johnson said. They would be necessary for all seats except those in the upper bowl, which holds 27,000.
The Jets seat licenses will cost $4,000 to $20,000 for the 37,500 seats in the lower bowl and mezzanine. The club seats in the lower bowl and mezzanine will cost $5,000 to $25,000.
Fans can pay for the seat licences in five installments over five years. But the team will charge interest.
Jets fans paid an average $26,000 for the right to buy tickets in the exclusive new Coaches Club, but the team got bookings for one-third of the available seats, team owner Woody Johnson said.
The team earned $16 million by auctioning off 620 personal seat licenses on Stubhub.com, Johnson said. The licenses grant the right to buy tickets for a particular seat in the new Meadowlands stadium and they can be sold like liquor licenses or taxi medallions. The eight-day auction ended with a top price of $82,000, according to the team.
Johnson said the team is pleased with the results of the bidding, which he called the largest auction ever on Stubhub.com.
Everything is new for the Giants and Jets. The Giants and Jets share a new $800 million stadium in the Meadowlands that opened in 2010.
The Jets reportedly agreed to the deal after deciding that pursuing a new stadium in Queens was too politically risky. The team had already lost $75 million in an effort to build a stadium in Manhattan. NFL Commissioner Paul Tagliabue told the Jets that if they continued to pursue the Queens location, he would allow the Giants to move ahead with a stadium of their own. That meant if the Jets failed to build in Queens, they would come back to the Meadowlands looking to become tenants once again in a rival's stadium.
The deal also benefits the Giants which saw an opportunity to split the cost of a new stadium and avoid carrying the entire load alone. To make the deal work both sides had to compromise.
Perhaps the biggest concession was made by Jets owner Woody Johnson who pledged to give the franchise its first-ever home stadium. The deal seals the team's fate to that of the Giants for decades. The Giants gave up design issues and agreed to move their practice facility near the Meadowlands Race Track, a greater distance from the new stadium than they had hoped.
The NFL also gave in and will allow the teams to borrow $300 million from the league to help fund the venue.
The 75-acre stadium plan calls for the venue to offer 200,000 square feet of sports-themed retail space that will connect to the Xanadu development near Izod Arena. The state contributed the land for the stadium and the Giants' practice field. It also made $30 million in infrastructure upgrades.
The state acquired 20 acres for a Jets practice facility within 20 miles of the stadium. Because the Jets will be moving their headquarters to New Jersey, the state will gain $12 million to $15 million a year in income tax revenue.
The teams share in the stadium's operating responsibilities and cost. They also share in its revenues. Naming rights will be sold to the venue, eliminating the chance that it will be called Jets Stadium. Electronic signage gives the stadium a personality unique to the teams for game days.
The exterior is wrapped with horizontal metal louvers – think silver aluminum siding turned sideways – that designers say has a lightening effect on the massive building. Colored lighting will be installed within the metal louvers and can make the building glow red and blue for the Giants, green and white for the Jets.
The plaza area surrounding the stadium is divided into several zones, where fans can take part in activities. They include a tailgate zone, a fantasy football zone and one zone called “Fields in a Forest,” described as several football fields lined on concrete and separated by trees where fans can play pickup football before games.
Three tiers hold 76,767 general and club seats. More than 200 luxury suites that account for 4,971 seats are located on four levels – 25 on field level, including the team owners' suites, 67 on the first concourse level, 78 on the next level and 57 a level above that. The suites will lease for $270,000 to $1 million a year. The price includes tickets for both teams.
The 9,222 club seats are near the stadium club areas that will provide exclusive indoor eating and drinking opportunities for club seat holders.
The club seats come in several varieties. The best club is the Coach's Club. It's between (approximately) the 30-yard lines, directly behind the Giants bench. There's a patio that's 15-feet behind the bench where fans can drink and eat. Food and nonalcoholic beverages are included at a price per seat per season, after the $20,000 buy-in, of $7,500.
Next best is the Blue part of the Mezzanine Clubs. That's both sides of the field, approximately between the 20-yard lines. $12,500 buy-in, plus $5,000 per seat per season. You have access to "upscale" dining, more leg room, cushioned seats and free VIP parking.
Yellow follows Blue. Same amenities but your seats are approximately between the 20 and End Zone. That's $7,500 buy-in, and $4,000 per seat per season.
Purple follows Yellow. Same $7,500 buy-in but your seat faces the corner of the End Zone and will run you $2,500 per season.
The field is designed to meet international soccer standards. The soccer field dimensions are 105 meters by 68 meters, with extra room in the corners for corner kicks.
The naming rights price of $438 million is not official, but is based on published reports. (Facilities, Financial, Football, NFLNFL, Professional Sports)