Yankees, StubHub strike deal, set resale ad price floor

(AP) - The Yankees and StubHub ended their squabble, announcing a sponsorship agreement Monday that sets an advertising minimum price for resale tickets. StubHub will become the official fan-to-fan

News 12 Staff

Jun 28, 2016, 1:39 AM

Updated 2,939 days ago

Share:

(AP) - The Yankees and StubHub ended their squabble, announcing a sponsorship agreement Monday that sets an advertising minimum price for resale tickets.



StubHub will become the official fan-to-fan ticket reseller for the Yankees, replacing Ticketmaster's Yankee Ticket Exchange, and will be fully operational July 7. Ticketmaster will still remain the primary ticket vendor for the Yankees.



The agreement is worth about $100 million to the team over 6½ years, a person familiar with the negotiation said. The person spoke on condition of anonymity because the value was not disclosed.



Speaking at a news conference, Yankees President Randy Levine said generally the lowest price a seat can be advertised for resale will be 50 percent of what a ticket is sold for as a part of a full-season plan.



"This new product was the result of many productive discussions with StubHub, which will allow them to fully integrate into our ticket system," Levine said. "We are confident this collaboration will best protect our fans in the ticket resale marketplace."



The ticket resale service through StubHub will be fully operational on July 7 for the Yankees' July 15 game and will be available for the rest of the season all through mobile-only. Fans who have resale tickets posted for the July 15 game will have to repost their tickets on StubHub in order for other fans to purchase those tickets.



StubHub's deal with the Yankees is the only partnership the company has with a MLB team using a mobile-only delivery service.



"250,000 mobile tickets have been used here at Yankee Stadium and are widely popular and more secure," Levine said. "Incidents of fraud are way down, and we think with this great technology StubHub has it's even going to get better."



In addition, StubHub will become a major sponsor for the Yankees and will be one of the club's top-five marketing partners, according to Levine.



"We are thrilled to provide a mobile-only technology solution for customers that are coming through StubHub.com," StubHub President Scott Cutler said.



StubHub and the Yankees officials met after the announcement in February that the Yankees were eliminating print-at-home tickets. The new policy has caused lines at the team's ticket office ahead of games.



"We both reached out and had a meeting, and I realized StubHub had changed," Levine said. "There was new leadership."



StubHub has been MLB's main ticket reseller since 2012, when the 29 other teams partnered with the eBay subsidiary. The Yankees opted out of that deal and reached an agreement with Ticketmaster, which had run Yankees Ticket Exchange since February 2013.


More from News 12
2:11
FBI investigating Trump rally attack as potential act of domestic terrorism

FBI investigating Trump rally attack as potential act of domestic terrorism

1:49
HEAT ALERT: Hot and humid Monday in Connecticut; feels-like temps near 100

HEAT ALERT: Hot and humid Monday in Connecticut; feels-like temps near 100

5:30
In prime-time address, Biden warns of election-year rhetoric, saying ‘it’s time to cool it down’

In prime-time address, Biden warns of election-year rhetoric, saying ‘it’s time to cool it down’

0:31
Sen. Blumenthal on Trump assassination attempt: 'Political violence is absolutely unacceptable'

Sen. Blumenthal on Trump assassination attempt: 'Political violence is absolutely unacceptable'

2:07
A look back at US political violence that changed history

A look back at US political violence that changed history

4:10
EXCLUSIVE INTERVIEW: Trump rally attendee gives his eyewitness account of the shooting

EXCLUSIVE INTERVIEW: Trump rally attendee gives his eyewitness account of the shooting

1:52
Law enforcement experts assess security failure at Trump rally

Law enforcement experts assess security failure at Trump rally

2:37
Security increased at Trump Tower following rally shooting

Security increased at Trump Tower following rally shooting

2:27
Political analyst weighs in on gun violence in wake of Trump rally shooting

Political analyst weighs in on gun violence in wake of Trump rally shooting

1:29
Expert: Security will be a high level concern at presidential events in wake of Trump rally shooting

Expert: Security will be a high level concern at presidential events in wake of Trump rally shooting

1:34
Political analyst: Shooting at Trump rally will bring changes to 2024 Presidential Election

Political analyst: Shooting at Trump rally will bring changes to 2024 Presidential Election

 Greenwich PD: 2 suspects sought in armed carjacking; vehicle last seen in Yonkers

Greenwich PD: 2 suspects sought in armed carjacking; vehicle last seen in Yonkers

2:03
Poll: More than 40% of women skip or delay medical screenings and appointments

Poll: More than 40% of women skip or delay medical screenings and appointments

0:37
Police: Missing Connecticut teenager located in New Jersey

Police: Missing Connecticut teenager located in New Jersey

0:18
Police: Car strikes tree before bursting into flames in Stamford

Police: Car strikes tree before bursting into flames in Stamford

1:43
Fairfield County trio create ONIT for those looking for odd-jobs

Fairfield County trio create ONIT for those looking for odd-jobs

0:24
Greenwich police: Be wary of phone scam involving fake detective

Greenwich police: Be wary of phone scam involving fake detective

1:38
Compassionate care: Connecticut honors The Patient is U Foundation nonprofit

Compassionate care: Connecticut honors The Patient is U Foundation nonprofit

2:24
Westhill High School principal reacts to death of Stamford teen whose body was found in New Canaan

Westhill High School principal reacts to death of Stamford teen whose body was found in New Canaan

0:28
5 'underperforming' Stop & Shop stores in Connecticut set to close

5 'underperforming' Stop & Shop stores in Connecticut set to close