Freddie Falcon
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- Mar 16, 2019
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Fans have defaulted on about $30 million of personal seat licenses since Mercedes-Benz Stadium opened in 2017, the Atlanta Journal-Constitution reports.
The Falcons responded to the newspaper that it continues to sell PSLs to new buyers and has no plans to put single-game tickets on sale to the general public.
The Falcons reported in September 2017 that it had sold 57,040 seat licenses, which require a one-time fee for the right to buy season tickets. A recent state audit report on the Georgia World Congress Center Authority (GWCCA) shows the number was down to 50,408 a year later, according to the ACJ.
Falcons CEO Greg Beadles told the AJC that the decline of 6,632 did not include new sales, including seat upgrades, made since then.
Financial records indicate the defaults have continued, though.
Using a quarterly report provided by the Falcons to the GWCCA, the newspaper found PSLs in default reached a total of $29.85 million “to write off” by the end of last month.
The Falcons can re-sell PSLs in default.
The Falcons sold $273 million worth of seat licenses as of Sept. 1, 2017, not including interest, and about $236 million of those sales remained active at of the end of last month, according to the GWCCA.