Thursday, October 18, 2012

Barclays Center today distributes 1,000 free tickets to boxing this Saturday; is that generosity, desperation, or both?

Maybe it's generosity. Maybe it's desperation. Maybe it's a little of both. But the Barclays Center, via the heretofore un-announced Brett Yormark Foundation, is distributing 1,000 free tickets, in groups of four, to Brooklynites today and (if available) tomorrow to the first-ever boxing lineup at the arena, Saturday, Oct. 20.

That number represents nearly 10% of the estimated 10,700 attendance.

Given that TV channel Showtime is apparently investing $4 million in purse money, according to ESPN's Dan Rafael, it seems that the arena is more concerned with making sure there's solid attendance for TV rather than reaping money from gate count. (After all, they do make money from concession sales.)

As indicated in the graphic at right, tickets start at $56, so 1,000 tickets would have a face value of at least $56,000. On the resale marketplace, tickets on StubHub start at $54, on TicketsNow at $52.

A push to move tickets

But there's clearly been a push to move tickets. On Thursday, Oct. 11, those on the arena's mailing list were sent an offer out for a 20% discount:

The Brett Yormark Foundation

There no record of the Brett Yormark Foundation, named for the Nets/arena CEO, on the web, in the New York State database of nonprofit corporations, or in the Guidestar database. It's apparently very new.

Why give out tickets via a foundation? I'm not sure, but I suspect there are some favorable tax implications.

The announcement

The announcement is pitched as a gift to Brooklyn. From the announcement (right; click to enlarge):
Barclays Center and Golden Boy Promotions have teamed up to bring championship boxing back to Brooklyn for the first time since 1931 and we want you to be there.
The Brett Yormark Foundation is donating 1,000 tickets to the Brooklyn community, as 250 lucky Brooklynites will receive four complimentary tickets to the first ever boxing card at Barclays Center on Saturday, October 20 at 5:00pm.
Ticket Guidelines:
- First 250 Brooklynites (with valid ID) will receive four (4) tickets to see World Championship Boxing at Barclays Center on Saturday, October 20 at 5pm.
- Tickets will be distributed on a first come, first serve basis.
- Visit the American Express box office at Barclays Center between the hours of 10am to 6pm on Thursday, October 18 or Friday, October 19 (while supplies last).
- Bring a valid form of identification to prove Brooklyn residency.
- No purchase or payment necessary to receive tickets.
- Tickets may not be resold.
Thank you Brooklyn!

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