The New York Yankees, one of two teams to opt out of Major League Baseball's deal that makes StubHub the official ticket resale site of the league, has announced plans to take the resale business to Ticketmaster.
The Yankees will work with Ticketmaster to form the Yankees Ticket Exchange. Fans who want to resell their tickets and want others to be able to immediately download their seats can do it only on the Yankees Ticket Exchange. The team also says those who want to resell will have to pay the Yankees Ticket Exchange only a 5 percent fee, as opposed to 15 percent charged by StubHub. Buyers will pay the Yankees Ticket Exchange the same 10 percent commission as StubHub.
"The Yankees Ticket Exchange will be a safe, convenient, reliable and expedient way to purchase and sell guaranteed authentic Yankees tickets," Yankees managing general partner Hal Steinbrenner said in a statement. "It is unfortunate that unscrupulous resellers utilize deceptive practices and tactics and employ unofficial websites, all of which give rise to counterfeit tickets."
The Ticket Exchange does not have a price floor, so sellers will be able to set their own prices -- even below face value if they so choose.
Critics of the Yankees say that StubHub is perfectly safe, guaranteeing tickets to anyone who has been scammed on its site. They also argue that the Yankees are merely avoiding the natural market that has been created by secondary ticketing sites like StubHub and that they just want a slice of the pie.
Team officials have long argued that short sellers post offerings that they don't have in hand and often lower the prices of the ticket. That affects what fans are willing to pay the team for their original tickets.
The Los Angeles Angels are the only other MLB team that will not use StubHub as a ticket resale partner.