360° Coverage : Could SuperBowl XLVIII At MetLife Stadium Have The First-Ever...

2 Updates
Could SuperBowl XLVIII At MetLife Stadium Have The First-Ever Million Dollar Suite Purchase

Could SuperBowl XLVIII At MetLife Stadium Have The First-Ever Million Dollar Suite Purchase

Jan 18 2014, 1:06pm CST | by

For the general public, whether or not to attend the Super Bowl is a question of a few thousand dollars.  While by no means trivial, at a current average price of $4,600, Super Bowl tickets are only...

Filed under: news

 
 
 

39 weeks ago

Could SuperBowl XLVIII At MetLife Stadium Have The First-Ever Million Dollar Suite Purchase

Jan 18 2014, 1:06pm CST | by

For the general public, whether or not to attend the Super Bowl is a question of a few thousand dollars.  While by no means trivial, at a current average price of $4,600, Super Bowl tickets are only listing for about 1% of the price of Super Bowl suites. While ticket prices for this year are about 15% above the four-year average, the difference in suite prices are is anywhere from 80% to 300% higher. In years past, a suite could cost from $150,000 to $250,000. This year, prices are starting at $450,000, and after Sunday those prices could rise significantly depending on who gets into the game.

From the beginning, MetLife’s suites set a high bar.  Designed by celebrity architect David Rockwell who has done major projects that range from the W in Union Square to the Academy-award hosting Kodak Theatre, the 220 MetLife suites hold anywhere from 12-30 guests. Even with their tony heritage, the market this year is in a different league than any previous years.  In addition to higher demand because of the possibility of foul weather, supply this year has been severely constricted. In years past, suite holders for the Jets and Giants would have gotten access to their suites for the Super Bowl, which they could in turn sell for a hefty profit.   This year, the NFL pulled it’s version of eminent domain and took away suites from team season ticket holders to include them as part of million dollars sponsorships for the NY/NJ Super Bowl host Committee.  The committee has 28 sponsors, and when you add to that teams, the league, and existing sponsors, there are likely less than ten suites on the market, compared to 30 in an average year. Here’s a detailed MetLife Seating Chart that shows the three suite levels.

As hard as it is to believe, depending on who gets into the game, prices could rise from here. While it’s unlikely we’ll get to a million dollar suite, before ruling it out consider the obvious fact that the majority of suite purchases are from corporate buyers. Also consider the fact that San Francisco and Seattle have four of the most cash-rich companies on the planet. Microsoft alone has over $63 billion in cash on their balance sheet and when you add Apple, Cisco and Google into the mix, there’s over $200 billion of corporate cash that could be looking for a weather-protected way to spend the six hours on Super Bowl Sunday.

In most years, suite purchase are about ROI.  In order to justify a $150,000 suite as an investment, there needs to be a strong ROI case for entertaining clients and prospects.  When you’re talking about a $500,000 investment, though, it’s unclear if ROI is even a possibility. That means that anyone who locks in on one of the remaining suites is doing so without any real expectation of a return, and without much limitation on what they’d be willing to pay.

In addition to the game, Suite holders will also be getting a great seat for a Bruno Mars concert.   Based on the recently-announced second leg of his tour, Bruno Mars tickets have an average price of $337, which takes a tiny bit of the sting out of that $500k+ price tag.  If you want to track non-suite Super Bowl ticket prices for the game itself, here’s a cool infographic that TiqIQ and Bloomberg put together.

Source: Forbes Business

 
Update
2

8 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (N ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17" ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Toddler tests positive for marijuana in Puerto Rico
San Juan, Oct 25 (IANS/EFE) A 14-month-old boy tested positive for marijuana in a toxicology exam at a San Juan hospital, where he was admitted after his parents became concerned that he was sleeping too much.
 
 
Hawking joins Facebook, wants people to be 'curious'
New York, Oct 25 (IANS) The famous theoretical physicist professor Stephen Hawking is now on Facebook, asking fans to be "curious".
 
 
NASA captures largest sunspot in two decades
Washington, Oct 25 (IANS) NASA's Solar Dynamics Observatory (SDO) has spotted an image of a gigantic sunspot - the largest in last 24 years.
 
 
Obama hugs nurse who survived Ebola
Washington, Oct 25 (IANS/EFE) US President Barack Obama greeted nurse Nina Pham in the Oval Office with a big hug to celebrate her recovery from the Ebola virus, which she was the first person in the country to contract.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla