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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

What are teams Giving to STHs for the lockout (MOD: Interest on ST payments)

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Old
11-28-2012, 02:26 AM
  #51
TTOMO
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Quote:
Account #******

Dear ****,

As you are aware, the National Hockey League (the “NHL”) and the NHL Players’ Association (the “NHLPA”) are currently engaged in negotiating a new Collective Bargaining Agreement (the “CBA”). The current CBA will expire on September 15th and it is the NHL’s objective to successfully conclude negotiations by then. However, if this does not occur, training camp may not open on time and the 45-home game season may be affected.

We appreciate that you have made a significant investment with us and we have developed a plan that recognizes your loyalty to our team. Immediately upon an announcement of a delay to the season, we will be asking you to select one of the following two options regarding the funds on account relating to your 12.13 ticket package(s):

OPTION 1: RECEIVE REFUNDS BASED ON LOST GAMES

You will receive a refund for any games lost as a result of a reduction to the 45-home game season;
Should this occur, refunds will be processed within 10 business days of the end of the month;
A 3% rebate credit (compounded annually) will accrue monthly, based on the funds on account at the end of each month;
The rebate credit will apply from September 16th until the first scheduled game to be played in a revised season;
Under a revised season, your 12.13 ticket package(s) will be pro-rated based on the number of games in the new schedule, including our best efforts to match comparable games from the original season schedule;
Any excess funds on account that are not applied to the revised 12.13 season will be refunded within 10 business days after the new schedule is released;
In the event the entire season is lost, a final rebate credit will be calculated at that time and a refund for the remaining funds on account will be processed within 10 business days, less a 10% deposit that is required to retain your Ticket Holder status for the 13.14 season;
The total rebate credit accumulated can be applied against the 2013 Playoffs, if played, or the 13.14 season invoice.

OPTION 2: LEAVE ALL FUNDS ON ACCOUNT

With this option, your funds will remain on account and be applied against future ticket purchases;
Under a revised season with less than 45 home games, your 12.13 ticket package(s) will be pro-rated based on the number of games in the new schedule, including our best efforts to match comparable games based on the full season schedule;
A 3% rebate credit (compounded annually), based on the funds on account, will accrue from September 16th until the first scheduled game to be played in a revised 12.13 season;
Once the season starts, the rebate credit on any excess funds on account that are not applied to the revised 12.13 season will continue to accrue until April 1, 2013 (if the funds are applied to the 2013 Playoffs) or until August 15, 2013 (if the funds are applied to the renewal of your 13.14 ticket package(s));
In the event the entire season is lost, the funds on account (less a 10% deposit that is required to retain your Ticket Holder status for the 13.14 season) will continue to accrue the rebate credit until August 15, 2013 when full payment for next season is due.
The total rebate credit accumulated can be applied against the 2013 Playoffs, if played, or the 13.14 season invoice.

Further details on choosing your preferred option will be sent to you via email if a delay to the season is announced. Again, it is our hope that an agreement on the terms of a new CBA will be reached by September 15th. However, we want to make you aware of the plan should we be faced with the potential of missed games.

We thank you for your understanding, patience and continued support. If you have any questions related to your account, please call us at 604.899.GOAL (4625).

Sincerely,

CANUCKS SPORTS & ENTERTAINMENT
So, 3% rebate in Vancouver. TBH, I haven't looked at any of the emails I got until I saw this thread, but the subsequent ones were reminders that said that if I didn't reply, then they would just assume that I want option 2 (Which is what I was going to go with anyway.).


Last edited by TTOMO: 11-28-2012 at 02:38 AM.
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Old
11-28-2012, 09:59 PM
  #52
DJ Omnimaga
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Most likely a 50% ticket price increase for Leafs fans, as a reward for being patient during those 9... er... 1 entire season of no NHL hockey.

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11-29-2012, 05:32 PM
  #53
Realm
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Originally Posted by Adz View Post
The Preds said that they'd be giving STH's 10.25% APR (paid in points! Whee!) but they're not.

APR would be a calculation where, if a game was canceled for October and it wasn't played by the following October, you would earn a total of 10.25% interest on that game because 1/12 of it would be paid in interest each month. Instead, they divided the 10.25 by 12 but only paid it the month in which the game was canceled. So basically they're paying a straight interest rate of 0.85%. I told my ticket rep this and she seemed shocked, but to my knowledge it hasn't been changed. Either they're really bad at math or they're just trying to fool us but it is most assuredly not their promised 10.25% APR.

Here's the difference: A $100 ticket for Game 1 should earn $10.25 if unused for the 12 months, resulting in $110.25. Their method of calculation results in a total of $100.85.

So the answer to your question is that the Preds are paying .85% straight interest.
So you got a money refund for a game not played in August? If so that would be a 10.25% APR. If you are getting a credit towards a game in 12 months (so next year) than you would get the FULL 10.25% unless I am misunderstanding you. Its like your credit card doesnt charge you 10% each month of your owing.

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Old
12-04-2012, 04:42 PM
  #54
Adz
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Originally Posted by Realm View Post
So you got a money refund for a game not played in August? If so that would be a 10.25% APR. If you are getting a credit towards a game in 12 months (so next year) than you would get the FULL 10.25% unless I am misunderstanding you. Its like your credit card doesnt charge you 10% each month of your owing.
I think you're misunderstanding me.

Your credit card doesn't charge you 10.25% each month on your balance, but it does charge you 1/12 of 10.25% EVERY month that you owe. Not just one month. After a year's time, what you'd pay on what you owe would equal 10.25%. If you owed 1000 and didn't pay it off, the first month the credit card company would assess $8.50 for the privilege of using their money to pay for your purchases. Then the next month it would charge that again. So at that point, you've paid $17 in interest on the $1000. After a year, that $1000 balance would cost you $102.50 (actually more because the interest would be assessed on the interest, too, but let's keep it simple).

What the Preds are doing is paying me 1/12 of 10.25% on whatever tickets would have been used that month. If 4 games would have been used in October they're paying that .85% on the money I spent on October games. But unlike our credit card scenario, they don't compound it over the 12 months. Therefore, it's a straight interest rate of .85%

I've already paid for my season tickets, they're just crediting to the future any games that are missed.


Last edited by Adz: 12-04-2012 at 05:09 PM.
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Old
12-04-2012, 06:41 PM
  #55
LadyStanley
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Sharks have arranged for their ECHL farm team to play game (for free) @ HP Pavilion on 12/17 (revision of schedule -- 1/16 game moved; other team is regional ECHL rival, and former ECHL affiliate of Sharks). (Free tickets to SF Bulls STH, free tickets to Sharks STH, and if any left over free tickets to public.) And free parking.

(Sharks foundation doing Toys for Tots collection before the game.)

http://www.mercurynews.com/sharks/ci...hunder-play-at

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Old
12-20-2012, 10:33 PM
  #56
LadyStanley
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http://blogs.mercurynews.com/sharks/...refund-policy/

Sharks official policy is month-by-month refund, but are willing to work with STH who want "all" of their pre-paid monies refunded. (But unofficially to keep their seniority, a minimum of 25% must be kept on account.) The Sharks would not reveal the number of STH who have given up their tickets.

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