Feb. 6 (Bloomberg) -- Former Madison Square Garden Sports President Scott O’Neil joined the advisory board of ScoreBig.com, a closely held company that sells unused tickets for sports teams and entertainment venues.
O’Neil, who left MSG in September, joins a board that includes Gideon Yu, president of the San Francisco 49ers and former chief financial officer of Facebook Inc. and YouTube Inc., and Shari Redstone, vice chairman of the board of Viacom Inc. and CBS Corp.
Prior to running business operations for basketball’s Knicks and hockey’s Rangers at MSG, O’Neil worked for the National Football League’s Philadelphia Eagles and the National Basketball Association, where he headed team marketing and business operations.
“The guy is at the pinnacle of everything we do,” Adam Kanner, ScoreBig.com’s chief executive officer, said in a telephone interview. “He understands the problem from the property side.”
Kanner said the Los Angeles-based company has agreements with more than 25 percent of the four major U.S. sports leagues. There are no fees for the customer, he said, and every ticket is guaranteed to sell for less than face value. Customers make an offer and the bid is accepted or rejected.
Kanner said live entertainment is a $20 billion-a-year industry, and O’Neil said that 40 percent of tickets to live events go unsold. That problem will probably get worse, he said.
“If you have an opportunity that can create a marketplace and bring casual fans into the building, that will be a big business very quickly and be around for a very long time,” said O’Neil, who joined MSG in 2008.
Kanner wouldn’t disclose the company’s revenue.
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