Here's a copy of the letter sent out by John Mara and Steve Tisch regarding the implementation of Personal Seat Licenses at the New Meadowlands Stadium:
June 26, 2008
Dear Giants Season Ticket Holder:
As the Giants prepare to defend the Super Bowl championship, and with construction of a new state-of-the-art stadium and team practice facility well underway at the Meadowlands, these are exciting times for Giants fans.
The new stadium and practice facility are scheduled to open for the 2010 season and will offer Giants players, coaches and, most importantly, Giants fans the first-class facilities, services and amenities they deserve.
The stadium has been designed to provide fans with an unparalleled experience on Giants game days including: modernized food service, concessions, and restaurants; expanded team stores; tailgate zones, with improved tailgating facilities; upgraded and additional restrooms; Club seats with outstanding amenities; wider concourses; cutting-edge scoreboards that have in-stadium technology; and much more. The experience of getting to the stadium will be better too, with improved highway access, redesigned parking lots, and a new rail line serving New Jersey and New York. These improved amenities, together with the new state-of-the-art playing and training facilities, will position the Giants to attract championship-caliber players year after year.
At a cost of over $1.6 billion, the new stadium development is the largest 100 percent privately-financed stadium project in the United States. As with the other NFL cities that have recently opened new or significantly renovated stadiums, we cannot build these new facilities without the sale of "PSLs" (Personal Seat Licenses) to Giants season ticket holders. The net proceeds from the sale of the PSLs will be used to pay for the construction of the new stadium.
Once you purchase a PSL, you can control your seat for as long as the Giants continue to play in the new stadium. This means that, in addition to having the right to purchase the same season seats every year, you will also have the ability to transfer your PSL to other Giants fans, including to unrelated third parties.
We are working very hard to develop a program and process for the purchase of PSLs that will provide a broad range of choices to Giants season ticket holders. Here are a few things we can tell you now. Each seat in the new stadium will have a PSL. Over 90 percent of the upper level seats will have a $1,000 PSL. Less than 5,000 seats in the lower level will have a $20,000 PSL, which will be the most expensive PSL at the new stadium. The pricing of the PSLs for the other seats in the new stadium has not been finalized, but we hope and believe that you will be pleased with the options when we send more detailed information on the stadium’s PSL programs. You will begin receiving that information in a few weeks. The information will be sent out in stages so that our sales team can focus attention on every seat holder.
Thank you for your continued loyalty. Your ongoing support is sincerely valued, and it is the primary reason this new stadium will become a reality in 2010.
P.S. As the seat allocation process progresses, you can visit the new stadium’s website at www.NYG2010.com for updates.