apountry is not a fanbase. It is a relationship.
The sea of orange splashed across the seats, home or away, speaks to the bond between rabid supporters and the team.
But mention the possibility of PSLs becoming part of the proposed privately-funded, retractable-roof stadium at Burnham Yard and eyes narrow, and expletives fly.
It is another example of The Man sticking it to the average fan.
Having to pay a one-time fee for the right to pay for season tickets? As a financial mechanism, it is a crowbar slammed across the shins.
Emotionally, I feel for the fan who gets priced out. But economically, I am on the Broncos’ side.
Even though president Damani Leech admitted that using PSLs was likely, co-owners Greg Penner and Carrie Walton Penner have not made a final decision.
“Really, itap the furthest thing from our minds right now. Itap still a preferred site, but itap not finalized that we’re going to be in that location. Obviously, thatap where we really want to be. So really, we haven’t even gotten to PSLs yet,” Greg Penner said Tuesday. “Our season ticket holders are vital to our organization and we’re going to keep them informed every step of the way once we get there.”
Because PSLs — personal seat licenses — have left some loyal sports fans SOL around the country, they have taken on a boogeyman quality.
At the risk of spamming my own email, I counter with simple math and fairness.
I would rather people who use the facility take on the burden of additional costs than taxpayers.
Not long after former Hall of Fame owner Pat Bowlen suggested the Broncos could move to Los Angeles nearly three decades ago, voters approved a sales tax that funded 75% of the cost of the current stadium, capped at $270 million.
How many of those taxpayers have attended a Broncos game?
The team has 22,000 season ticket accounts with a 99.5% renewal rate and 100,000 people on a waiting list. Based on supply and demand, owning a season ticket is a privilege. There will be those who die waiting for the opportunity to purchase.
Could new well-heeled folks change the fabric of the crowd from blue-collar screamers to cheese nibblers and wine sippers? Sure.
However, that transformation, if we are being honest, began with the construction of the current stadium. It has never been as loud as old Mile High.
Would it stink for a lifelong season ticket holder to get priced out? Yes.
Is that worse than never getting a chance to buy season tickets? Or paying taxes for a place you will never step foot in? Nope.
“You are not going to hear a lot of complaints from economists who view this through the public policy lens. They will have no problem with taxes on tickets for the users,” said Geoffrey Propheter, an associate professor of public affairs at CU-Denver. “But yes, it can be a shock to some, particularly if you have the perspective that they are part of the community. How can you do it to them?”
Because the Broncos ownership group is the richest in the NFL, there are those who view PSLs as unnecessary, if not a full-on betrayal.
But last time I checked, owning a team and building a stadium is a business.
Could this ownership group, given its personal net worth, privately fund the stadium and not use PSLs? In theory, yes. But in practical terms, PSLs have become equity and a way to recoup or raise capital for projects of this magnitude.
I would rather the owners tack on the equivalent of a resort fee to season ticket holders than ask for public money.
The last stadium built without taxpayer dollars or PSLs was in 2002 in New England. In the last 20 years, only the construction of Lucas Oil Stadium and State Farm Stadium did not use PSLs when first built, though the majority of the costs were subsidized by the public.
For those who say the Broncos should be different, should be like the Patriots, consider that Gillette cost $325 million. Per The Los Angeles Times, the SoFi Stadium price tag was $5.5 billion in 2020.
Given the rising construction costs, it is highly unlikely the Burnham Yard palace will come in under $3 billion, and that is only if it stays on track for a 2031 opening.
Let’s say the Penners use PSLs.
Haven’t they earned the benefit of the doubt that they will do it in a reasonable way?
In the four years since they purchased the team for $4.65 billion, they have made a larger impact than Patrick Surtain II or Bo Nix. They hired Sean Payton, kept George Paton, signed core players to nearly a half billion in contract extensions, poured in $100 million to the current stadium, financed a $175 million state-of-the-art team headquarters and are on pace to give $10 million to the community this year.
They brought one of the league’s flagship franchises back to life. The playoff drought ended. The streak without an AFC West title and postseason win is in the past.
Greg Penner said he expects Super Bowl titles. As in plural.
And the owners have committed to this goal by investing in everything from injury research to improving recovery to nutrition to give the Broncos the best chance to win.
The owners have prioritized the fans’ feedback since taking over, running surveys to improve the gameday experience and gauge reactions to things like PSLs.
It will be painful for some season ticket holders. But it will not be a blindside hit.
Looking at how the owners have gone about their business, save for their support of Jonathon Cooper, there is reason to believe the PSL program will have elasticity.
If someone purchases season tickets for several years, perhaps the Broncos could return part of the money the fan paid for the PSL. The PSL program could also offer a program to upgrade seats and provide steep discounts on concessions and merchandise and priority access to other events at the stadium.
If the team remains a contender, more likely with this ownership group, it also creates a path for the season ticket holder to sell a PSL for profit.
PSLs on the secondary market can cost as little as $75 dollars for the Browns to as much as $450,000 for the 49ers, according to pslsource.com.
There are going to be those who get squeezed out. I am not naive to this. I don’t like it.
But I would rather have a few thousand upset season-ticket holders than a few hundred thousand furious taxpayers.
