Falcons fans have defaulted on more than $32 million in PSLs

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Those empty seats at the Falcons’ still-new stadium may have less to do with people not choosing to buy them and more to do with people not being able to buy them.

According to the Atlanta Journal-Constitution, customers have defaulted on $32 million in personal seat licenses at Mercedes-Benz Stadium, with $7 million happening in the 2019 fiscal year.

Records obtained by the Journal-Constitution via open records request reveal the remaining amounts owed when PSL holders stopped making payments on licenses purchased before the venue opened in 2017. Once the defaults occur, the associated seats can’t be purchased.

Before the venue opened three years ago, $293.5 million in PSLs were purchased. As of June 30, 2019, $184.3 million had been paid. Minus the defaults, another $77.3 million remains owed.

Those who purchased PSLs can resell them in lieu of default. But there has to be a buyer before there can be a sale. The fact that the team has been struggling makes the PSLs less attractive.

24 responses to “Falcons fans have defaulted on more than $32 million in PSLs

  1. PSL’s are nonsense anyway, it’s just a moneygrab from those that can afford (or apparently not afford) those particular seats.

  2. This has more to do with the stupidity of PSL’s than anything else.
    It’s a terrible idea from money makers trying to squeeze the last dime.

  3. Most of those defaults were probably bought thinking that would re-sell their game tix to visiting fans… but it doesn’t always work out the way they hoped. The resale market for Atlanta is probably like trying to resell a time-share that was purchased at a high-pressure sales preview.

    Next is as Vegas… that’s a whole different game with the Strip down the road. Nice all black stadium too.

  4. Karma for the Falcons taking all the tax dollars to “honor” the troops when in reality they were doing it for millions of dollars. If you are honoring someone or something it shouldn’t require payment.

  5. The NFL gave them the chance to win that SB, so they could guarantee attendence for the new stadium. In the NFC champ game, the Packers layed down, like they did against SF as well. Then Atlanta blows that lead in the SB, and the fans havent been back since.

  6. Are they sure they haven’t defaults on $28.3M?
    Hopefully this is incentive for the owner to put a better product on the field…

  7. PSLs are a complete slap in the face to fans. You already buy season tickets and a team moves to a new stadium and then forces you to spend thousands for the right to buy the season tickets.

  8. charliecharger says:
    January 24, 2020 at 5:05 pm
    I don’t understand. Don’t the Falcons have ex-Patriots running the show? I thought everyone that leaves New England wins. No?

    ____________________________________________________

    Charger fans are in no position to make statements about winning. Shhhhhhhhh.

  9. When Redskins fans did that Dan Snyder sued them in court, and I think he made them pay.
    You can’t default , you can be taken to court. The only out is bankruptcy, and maybe divorce.

    I personally wouldn’t buy a PSL but there are enough chumps out there so why not take advantage of them.

  10. PSL’s are just a bribe for the opportunity to buy a ticket anyway! It’s not a loss when the team can’t collect! They just don’t have as many season tickets holders!

  11. How much did they tax the city to build that stadium so they can charge a PSL so you can buy tickets?

  12. Does the city earn a percentage of broadcast revenues per game? I’m guessing no. Good luck collecting on those PSLs. Maybe the ticket-owners use that money on private school tuitions, since voters elected to move tax dollars away from the public schools and over to the play pen.

  13. Just another reason a person shouldn’t be a hard-core fan of any team…not even the Patriots, who will lose Brady very soon and then BB (only after he breaks Don Shula’s lifetime winning record 347-he’ll do it a few years, then retire…and isn’t Mr. GMO like 80-something? Even billionaires don’t live forever…)

    Just like the Dolphins will never have their next Marino, the Pats will never have their next Brady.

    If you’re not a millionaire at least, you have no business buying a PSL!

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