New York Giants Official Website

Giants Stadium LLC Details PSL Program for New Stadium

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JUNE 26, 2008

EAST RUTHERFORD, NJ - Giants Stadium LLC today unveiled some details of the Personal Seat License program for New York Giants season ticket holders in the new stadium that opens in 2010. The so-called PSLs, one-time payments that guarantee the purchaser associated rights to purchase Giants season tickets, will be part of the purchase price for every stadium seat in the new building. PSL prices range from $1,000 to $20,000. Ninety percent of the seats in the upper bowl will have $1,000 PSLs. Fewer than 5,000 seats, in a building which will have a capacity of 82,500, will be at the highest price.

John Mara said the decision to employ PSLs came after an exhaustive examination of all the financing options for the $1.6 billion stadium, now under construction in New Jersey.

"We have spent months exploring our various options regarding the financing of the construction of the new stadium," said Mara, "Given construction costs and NFL and lender requirements for paying down our debt, and after much thought and analysis, we decided this PSL program is necessary. All the net proceeds from the sale of PSLs will be used to fund construction of the new stadium."

Steve Tisch also acknowledged the difficulty of the PSL decision.

"It's both an emotional and complicated process to establish the price structure in a new building that has an evolving manifest," said Tisch.

Giants Stadium LLC plans to begin sending detailed materials about the PSL program, which has not yet been finalized, to current Giants season ticket holders in the coming weeks. Information will be delivered continuously through the end of this year.

As part of the notification about the PSL decision, Giants Stadium LLC today sent a letter to all current Giants season ticket holders. In addition, up to date information has been posted on the stadium' website at www.NYG2010.com, and season ticket holders were urged to visit the website for available facts on the program.

About PSLs

A PSL is a Personal Seat License. A Personal Seat License is a one-time payment for permanent control of a Giants home game seat. The purchase guarantees the owner's right to purchase a season ticket as long as the Giants play in the new stadium. It also provides the purchaser with control of successorship of the tickets, a benefit now only available for direct family members. The PSL stays active on the condition that the season tickets are purchased annually.

Seat Allocation Process

Giants Stadium LLC is finalizing the details of its seat allocation process for all current Giants season ticket holders, as well as those on the Giants' waiting list. Giants Stadium LLC expects to publicly announce the complete pricing packages next month. The brochures and PSL applications will be delivered in stages to allow sales personnel the appropriate amount of time to work with each season ticket holder. This process will likely continue until the end of the year

The Waiting List

The Giants waiting list remains the same and fans are encouraged to remain on the list in order to participate in the Ticket Exchange Program.

Read Mara and Tisch Letter to Season Ticket Holders