Some teams as high as 10% returns on investment for keeping money with team
San Francisco, CA -- (SBWIRE) -- 10/08/2012 -- Thanks to the current labor dispute in the National Hockey League, refunds of purchased tickets will be dealt by the league. This following the cancellation of two week’s worth of games due to the players lockout regarding a “hockey-related revenue” percentage dispute.
The Buffalo Sabres owner has stated that those who leave their money with the team would start accruing 4% after the games purchased were cancelled.
The Toronto Maple Leafs’ owners has offered 5% to their season ticket holders.
“Leafs season ticket holders have an option: They can choose to be refunded monthly, should games be cancelled, and receive 1% interest, or they can leave their money on account where they will earn 5% interest,” said Pat Park, director of media relations with the team.
All across the NHL, fans are being presented with investment opportunities that have come of the possible season lockout.
The Vancouver Canucks offered 3%, as did the Winnipeg Jets, Calgary Flames, and Montreal Canadiens. The Edmonton Oilers, who may be moving to Seattle in the new future, are offering their fanbase a 4$ return on money spent.
Leading the investment push are the Florida Panthers and Minnesota Wild, who are offering 10% return for fans if they let spent cash ride with the team.
The money accrued would be used to pay for future ticket. That is, of course, if the teams play again at all.
The reason for the rates is an underlying hope for goodwill, and a quick dodge to returning money. “We have had tremendous fan support since the start of our franchise,” said Aaron Sickman, a spokesman for the Minnesota Wild. “They’ve been coming back to us in droves and we want to encourage our fans to keep their money with us. We hope it’s a short lockout so we don’t spend our time and energy refunding a game here and a game there.”
Marc Ganis, a sports consultant and president of SportsCorp Ltd out of Chicago, was tickled by the getting Wild season tickets and betting on an extended season. “That’s pretty impressive,” he says, about the 10% rate, adding the risk is probably minimal because he can’t remember the last time ticket holders lost their money because of a bankrupt franchise.
Ganis says the teams are willing to give high rates of return due to the cost of refunding tickets. The interest to keep fans is seen as positive for investors and the fanbase alike. “By doing this, it’s not a lot of money and it looks good on them,” he says. “For this type of interest, I’d let the money roll.”
Ted Rechtshaffen, a certified financial planner, stated that it makes sense to keep money in the team if you know they will return after the dispute ends. “The bottom line is do you want your money or do you know you are going to buying the tickets anyway, then it’s gravy,” says Mr. Rechtshaffen.
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