An innovative approach to selling NFL including Vikings tickets<br><br>The resale market for sports tickets has become more sophisticated and yet easier in recent years thanks in large part to the Internet. If you really want to see an indemand game and are willing to pay the price, you don't have to stand on a street corner before the game. You can go online and generally find what you are looking for.<br><br>With that model fairly well perfected, a new company has developed the next generation: buying an option to later buy tickets to a game.<br><br>OptionIT is the company, and they are banking on a few factors that seem to work in their favor. According to Michael Proman, OptionIT's vice president of marketing, partnerships and development strategy:<br><br>There is never an obligation to buy (the ticket).<br><br>Fans purchasing an option and then buying the facevalue ticket will pay roughly 30% below reputable secondary sites like StubHub.<br><br>Moreover, all inventory is backed by official partnerships with teams, Leagues and other rightsholders so we not a broker, but rather an options provider.<br><br>Those points came in an initial email contact with Proman. A followup email was an attempt to clear up how exactly such a thing would work who gets the money, what if an option to buy is traded more than once, etc. He responded with a pretty thorough nba jerseys breakdown (all dollar figures are hypothetical and to be used for illustrative purposes only):<br><br>1)Fan purchases a $10 option to buy a facevalue ticket effectively, reserving exclusive access to the ticket now and deciding later if they want to buy. This $10 (we don charge transaction fees on initial purchases) is split between OptionIt and the team/rightsholder that backs the inventory (for sake of discussion, let assume a 5050 revsplit so the team sees $5 and OptionIt sees $5)<br><br>2)Fan elects to sell his/her option and find a buyer for $20. We have a very traditional model for secondary transactions that matches sites like StubHub (seller pays 10% of the transaction price and buyer pays 7% of the transaction price); in this case, this 17% equates to $3.40, which authentic nfl jerseys cheap nba jerseys online is once again (for discussion purposes) split 5050 so OptionIt sees $1.70 and the team sees $1.70<br><br>3)Per your thoughts, let assume there are two more secondary transactions on this option (one happening at $25 and the other at $30). Please note that the team has held the physical ticket the entire time; therefore, if the person elected not to exercise the option, the team has the ability to resell the ticket just as they would have before the game takes place all windows conclude roughly 57 days out from the game to give the team enough time to do this).<br><br>The netnet based on the above is as follows:<br><br>Team Facevalue Ticket Revenue (what they would have received irrespective of OptionIt): $60 Revshare on Initial Option: $5 Revshare on three secondary transactions (total): $6.38 TOTAL: $71.38<br><br>OptionIt Revshare on Initial Option: $5 Revshare on three secondary transactions (total): $6.38 TOTAL: $11.38<br><br>In sum, the team makes an additional 19% on the ticket by providing the fan added convenience and flexibility.<br><br>Indeed, we think it's a pretty interesting idea. It clearly works better when games become "indemand," such as a VikingsPackers game this year after Brett Favre signed with the Vikings. OptionIT works with specific teams and leagues, and gets limited quantities of tickets for each game. They have partnerships right now with the Baltimore Ravens and St. Louis Rams two teams Proman notes play the Vikings in backtoback weeks in October (the 11th in St. Louis and the 18th in Minnesota). Options are available for both games, Proman said.<br><br>It's hard to say whether this will catch on, but it does seem to have some legs. If it can provide ticket flexibility while also potentially offering a lower price for indemand games than resale sites (as Proman suggests) while bringing additional revenue to the teams themselves, it could be winwin (though not winwinwin if you are a ticket broker).<br><br>Does it seem overly complex, or do you think it is right up the alley of sports fans used to dealing in numbers (both in the statistical and ticketbuying realms)? Is there enough revenue generated to carry it? Would you imagine it being used more by fans looking for flexibility or invisible brokers looking to turn a profit? Would you use it?
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