- StubHub will take over team’s ticket resale marketplace
- New system will be ready for use after July’s All-Star Game
The New York Yankees have announced an agreement with StubHub that puts the EBay subsidiary in charge of reselling Yankees tickets and ends a long standoff between the two companies.
The 6 1/2 year deal is worth at least $100 million to the Yankees, according to a person familiar with the matter. StubHub replaces the Yankees Ticket Exchange, which was run by Ticketmaster.
The Yankees had opted out of StubHub’s existing league-wide deal with Major League Baseball, which sets a minimum ticket price of $6. The Yankees Ticket Exchange set also set minimums, but based them on the game, section and seat.
In the new agreement with StubHub, the price floor will vary: the lowest price will be set at half the face value of a season ticket, which ranges from $15 in the bleachers to $245 for Field MVP Club seats. Other ticket markets are still an option for buyers and sellers.
The Yankees had resisted working with StubHub, saying that they would have more control over ticket fraud if they ran their own ticket marketplace. At the same time, the team also stopped accepting printouts of electronically delivered tickets for entry into the stadium, a policy change that caught many fans unprepared at the gates.
Under its new Yankees deal, StubHub will be able to advertise inside the stadium and use team marks. The new pact will kick in after the All Star break in July.
More than 600,000 fans are expected to enter Yankee Stadium this season with a mobile ticket, the team said.