Those empty seats at the Falcons’ still-new stadium may have less to do with people not choosing to buy them and more to do with people not being able to buy them.
According to the Atlanta Journal-Constitution, customers have defaulted on $32 million in personal seat licenses at Mercedes-Benz Stadium, with $7 million happening in the 2019 fiscal year.
Records obtained by the Journal-Constitution via open records request reveal the remaining amounts owed when PSL holders stopped making payments on licenses purchased before the venue opened in 2017. Once the defaults occur, the associated seats can’t be purchased.
Before the venue opened three years ago, $293.5 million in PSLs were purchased. As of June 30, 2019, $184.3 million had been paid. Minus the defaults, another $77.3 million remains owed.
Those who purchased PSLs can resell them in lieu of default. But there has to be a buyer before there can be a sale. The fact that the team has been struggling makes the PSLs less attractive.