NFL Removes Price Floor

Tickets to NFL games will no longer have minimum prices for resale after a multistate settlement announced by the New York Attorney General Nov. 15.  

Photo: Mikayla Whitmore / Las Vegas Sun via AP
This dirt lot in Las Vegas could be the future site of a $1.6 billion NFL stadium as officials continue to tinker with funding formulas to make it pencil out to the satisfaction of Oakland Raiders owner Mark Davis, who says the city needs to kick in $750 million.

The NFL previously mandated that tickets on its official resale site and secondary ticketing sites like StubHub should not move for less than the original price.

“Under the NFL’s price floor scheme, fans were forced to pay inflated prices for even the least desirable NFL games. That is a slap to both sports fans and free markets,” New York Attorney General Eric Schneiderman said in a statement.

The agreement between the NFL and the attorneys general of New York, Florida, Massachusetts, Ohio, Pennsylvania and the District of Columbia saw the NFL providing $100,000 for legal expenses and agree that, moving forward, the league would cease “formally or informally coordinating or encouraging pricing practices among its member clubs,” the New York Times reports.

The investigation reportedly did not find that the setting of a price floor negatively impacted consumers.