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- 28 NFL teams yet to present final attendance plans to fans
- League set to lose out on lucrative ticket resale markets
The National Football League (NFL) is facing a US$7 billion loss in ticket revenues if no fans can attend games this season, according to TicketiQ.
The figure, first reported by Yahoo Sports, comes after a string of NFL franchises, including the Kansas City Chiefs, Philadelphia Eagles, Pittsburgh Steelers, Baltimore Ravens and San Francisco 49ers, offered refunds for season ticket holders, amid concerns over supporters being allowed into stadiums.
The Eagles, along with the Las Vegas Raiders, New York Jets and New York Giants, do not expect to have any fans in attendance this season. It means the NFL is also in line to lose further revenues from some of its richest resale markets, having cut out official partnerships for secondary sales to take greater control.
Other teams, including the Green Bay Packers, are hoping to operate Lambeau Field at a reduced capacity for the upcoming campaign, but that is considered a best-case scenario at this stage.
Resale platform TicketiQ placed the Raiders’ ticket market at US$571 million. It also estimated the collective worth of the Eagles, Giants and Jets’ ticket market at nearly US$759 million.
Including the primary market and resale market, the NFL could suffer a US$1.3 billion ticket value loss for those four franchises alone.
The league will be hoping TicketiQ’s US$7 billion figure can be offset by having some fans at games. However, none of the NFL’s other 28 teams have currently presented final plans for supporters.
For the Raiders, the Covid-19 financial fallout was further compounded after it was confirmed they will miss out on a lucrative commercial partnership with the Southern Nevada Water Authority (SNWA).
The proposed deal, reportedly worth as much as US$30 million over ten-years, fell through after the SNWA decided to reduce costs.
“We did not enter into any sponsorship agreement with the Raiders, and have no plans currently to do so at this time,” Scott Huntley, the SNWA’s senior manager of public services, told LVSportsBiz.com.
“Both [the length and value of the deal] were problematic, especially now that we are reducing budgets significantly in light of the pandemic situation.”
Another contributing factor to the partnership’s demise was the expectation that many fans from outside of Nevada would attend Raiders games once current Covid-19 restrictions are lifted.
“If I were going to spend US$30 million over ten years with the Raiders, it’s imperative you’re talking to the people you’re trying to reach,” SNWA advisory committee member Andy Maggi said.
The National Football League (NFL) is facing a US$7 billion loss in ticket revenues if no fans can attend games this season, according to TicketiQ.
The figure, first reported by Yahoo Sports, comes after a string of NFL franchises, including the Kansas City Chiefs, Philadelphia Eagles, Pittsburgh Steelers, Baltimore Ravens and San Francisco 49ers, offered refunds for season ticket holders, amid concerns over supporters being allowed into stadiums.
The Eagles, along with the Las Vegas Raiders, New York Jets and New York Giants, do not expect to have any fans in attendance this season. It means the NFL is also in line to lose further revenues from some of its richest resale markets, having cut out official partnerships for secondary sales to take greater control.
Other teams, including the Green Bay Packers, are hoping to operate Lambeau Field at a reduced capacity for the upcoming campaign, but that is considered a best-case scenario at this stage.
Resale platform TicketiQ placed the Raiders’ ticket market at US$571 million. It also estimated the collective worth of the Eagles, Giants and Jets’ ticket market at nearly US$759 million.
Including the primary market and resale market, the NFL could suffer a US$1.3 billion ticket value loss for those four franchises alone.
The league will be hoping TicketiQ’s US$7 billion figure can be offset by having some fans at games. However, none of the NFL’s other 28 teams have currently presented final plans for supporters.
For the Raiders, the Covid-19 financial fallout was further compounded after it was confirmed they will miss out on a lucrative commercial partnership with the Southern Nevada Water Authority (SNWA).
The proposed deal, reportedly worth as much as US$30 million over ten-years, fell through after the SNWA decided to reduce costs.
“We did not enter into any sponsorship agreement with the Raiders, and have no plans currently to do so at this time,” Scott Huntley, the SNWA’s senior manager of public services, told LVSportsBiz.com.
“Both [the length and value of the deal] were problematic, especially now that we are reducing budgets significantly in light of the pandemic situation.”
Another contributing factor to the partnership’s demise was the expectation that many fans from outside of Nevada would attend Raiders games once current Covid restrictions are lifted.
“If I were going to spend US$30 million over ten years with the Raiders it’s imperative you’re talking to the people you’re trying to reach,” SNWA advisory committee member Andy Maggi said.
