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

 
 
 

34 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

2 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 (NewCo) and slashing the workforce of 20,000 b ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 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" hits home ...
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

NASA spacecraft to reach Mars this weekend
Washington, Sep 18 (IANS) US space agency NASA said Wednesday its Mars Atmosphere and Volatile Evolution (MAVEN) spacecraft will enter orbit around the Red Planet this weekend.
 
 
Russia's Gazprom to sign gas supply contract with China
Moscow, Sep 18 (IANS) Russian energy giant Gazprom have planned to sign a 30-year gas supply contract with China via the western route, the company's CEO Alexei Miller said Wednesday.
 
 
East African countries vow to preven Ebola
Nairobi, Sep 18 (IANS) Ministers of health, transport and immigration from five eastern African countries Wednesday vowed to strengthen measures that would prevent spread of Ebola virus in the region.
 
 
World Bank warns Ebola's economic impact in West Africa
Washington, Sep 18 (IANS) The Ebola virus that has become rampant in West Africa will enormously hurt fragile economic growth of the three hard-hit nations of Guinea, Liberia, and Sierra Leone if it goes unchecked, the World Bank warned Wednesday.
 
 
 

Latest from the Network

House okay's Obama's plan to train, equip Syrian rebels
Washington, Sep 18 (IANS) The US House of Representatives Wednesday approved President Barack Obama's plan to train and equip Syrian rebels as part of efforts to fight the Islamic State militant group. The chamber...
Read more on Politics Balla
 
Pro-Britain, independence supporters put final efforts
Edinburgh, Sep 18 (IANS) Both sides in the Scottish referendum campaign have held rallies Wednesday as they make their final efforts to win over undecided voters, BBC reported. Independence supporters attended a mass...
Read more on Politics Balla
 
Chad Kroeger and Avril Lavigne have trust issues
Avril Lavigne and Chad Kroeger reportedly have major trust issues. The couple, whose 14-month marriage is allegedly on the rocks, are said to have been ''fighting a lot'' in recent months because they are both very...
Read more on Celebrity Balla
 
Whitney Port is relaxed about wedding
Whitney Port says she never dreamed of having a ''fairytale wedding.'' The former 'The Hills' star, who is engaged to Tim Rosenman, insists she isn't stressed out about their upcoming nuptials and only recently started...
Read more on Celebrity Balla
 
Kristen Wigg is dating Scott Speedman
Kristen Wiig is rumored to be dating Scott Speedman. The 'Bridesmaids' star, who split from The Strokes rocker Fabrizio Moretti last year after 18-months together, and the former 'Felicity' actor have reportedly been ''...
Read more on Celebrity Balla
 
Ashley Tisdale French's wedding was 'romantic'
Ashley Tisdale French's wedding was ''rustic and romantic.'' The 29-year-old actress married rocker Christopher French near Santa Barbara, California last week, in front of 100 guests, including former '90210' star...
Read more on Celebrity Balla
 
Post motherhood, Hilary Duff feels 'strong as hell'
Los Angeles, Sep 18 (IANS) Singer-actress Hilary Duff says she has found new confidence after becoming a mother. The 26-year-old has a two-and-a-half-year-old son Luca Cruz. "One of the coolest things about being a...
Read more on Celebrity Balla
 
NASA spacecraft to reach Mars this weekend
Washington, Sep 18 (IANS) US space agency NASA said Wednesday its Mars Atmosphere and Volatile Evolution (MAVEN) spacecraft will enter orbit around the Red Planet this weekend. The spacecraft has completed a 10-month...
Read more on Apple Balla
 
Russia's Gazprom to sign gas supply contract with China
Moscow, Sep 18 (IANS) Russian energy giant Gazprom have planned to sign a 30-year gas supply contract with China via the western route, the company's CEO Alexei Miller said Wednesday. "Gazprom plans to sign a contract...
Read more on Business Balla
 
African Union, Russia vow to strengthen cooperation
Addis Ababa, Sep 18 (IANS) The African Union (AU) and Russia Wednesday vowed to strengthen their partnership and cooperation in different areas. Russia's Foreign Minister Sergey Lavrov, during his visit to the AU...
Read more on Politics Balla