Option to gain 2% interest on possibly canceled regular season games
San Francisco, CA -- (SBWIRE) -- 10/08/2012 -- Although training camps were supposed to open today, teams are already dealing with fallout from games announced as canceled due to the owners’ lockout.
The New Jersey Devils emailed a letter to season-ticket holders explaining the team’s policy regarding how ticket holdings would be dealt with in regards to the season and refunds.
The league recently canceled the first two weeks of games and the Devils have offered season-ticket holders the options for money from canceled games. If the holders keep their money on account with the team, they will receive a 2% interest on the total through the full season up until it begins.
The money will be automatically deposited into the holder’s account, and they will not have to take any further action.
The amount of interest is below the average in the league. Most teams are offering a minimum of 3% to 5% interest. Some teams are offering incentives beyond the interest as well. The Florida Panthers and Minnesota Wild are each offering 10% back to their investors in an attempt to keep the teams possible revenue afloat.
The preseason games that have been canceled up to this point will not be reinstated in any way. The first two weeks’ worth of games could still be added on to the end of the season. However, the long the lockout goes, the less likely that outcome is to be fulfilled.
The owners and players are still haggling over “hockey-related” revenue shares. Players had received 57% under the former agreement, and owners sought to push the number down as low as 47% of the total share. It is likely the two will meet at a 50-50 split if they can reach an agreement at all.
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