Colleges, pro teams look to ’sports mortgages’ to finance stadium expansion in uncertain timeBy Alan Scher Zagier, AP
Tuesday, March 30, 2010
Colleges add stadium seats with ’sports mortgages’
LAWRENCE, Kan. — Loyal sports fans tired of steady increases in season ticket costs may soon be able to buy their prized seats with payment plans similar to home mortgages or car loans.
A Chicago company is pushing what it calls “equity seat rights” for colleges and pro sports franchises. California and Kansas are its first two university clients.
Jayhawk fans who are willing to pay up to $105,000 over 10 years will earn the right to buy guaranteed top seats for football over the next three decades. The seats themselves will stay locked in at 2010 prices. California fans have 30 years to pay for a half-century’s worth of season football tickets.
Tags: College Sports, Kansas, Lawrence, North America, Sports, Sports-mortgages, United States