Mayweather/Pacquiao Fight Ticket Prices Fetch Pretty Penny
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The Manny Pacquiao and Floyd Mayweather Jr. fight is going to happen, and there has been a mad rush to get the tickets necessary. And, because of that, the marketplace has become a feverish.
Frida, one ticket for the MGM Grand floor, listed by secondary ticket seller StubHub, is selling for $128,706. The cheapest seat – in the upper deck section – was selling for $5,826.
Some of the craze is caused by the huge delay in creating tickets to the fight. According to representatives of Pacquiao, Mayweather’s manager, Al Haymon, had tried to change an agreement of the original fight contract. This new agreement would have short-changed Pacquiao and Top Rank, Inc.’s agreed-upon ticket distribution by 2,000 tickets.
The disagreement was finally settled Wednesday, after which, MGM put 500 tickets up for sale on Thursday. The arena can hold around 16,800 people.
The rest of the tickets were divided up – MGM attained 40 percent of the tickets with Mayweather Promotions and Top Rank splitting the rest of them up evenly. Face-value prices have a range of $1,500 for the upper deck to $10,000 for the floor. It’s anticipated that this show-down between the two fighters is going to break pay-per-view records.
StubHub spokesman Cameron Papp, said he thinks the majority of the 245 ticket listings the company has currently is put up by MGM or the fighters themselves.
Secondary ticket agents have also noted record-high prices for just one ticket. Papp said one seat was sold for $15,000, which is short of the company record of $30,000 for the NCAA men’s basketball championship game. However, the price included a suite with 20 seats as well as food and drink.
Papp said there’s no doubt the prices are a reflection of the high demand and low inventory. He said it’s certainly a unique time – a major event is happening and tickets don’t go on sale until nine days before it takes place.
Papp tracked the sales for the 2013 Mayweather PPV fight against Saul “Canelo” Alvarez, and found the majority of the buyers were from California, New York and Texas.
He said this time around, many people are from Nevada because the delay in sales resulted in cancelled flights and hotels that are not easily rebooked. Papp said the people buying these tickets are well-off: high-end business folks, actors, etc.
Exhaustive security precautions were taken by StubHub, demanding sellers to leave their tickets with them after they’ve been screen at the ticket centers. Buyers must pick up their tickets at the Las Vegas center.
An MGM Resorts’ official said most of the $150 50,000 close-circuit tickets have been sold.
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Posted by News
on Apr 26 2015. Filed under Entertainment, Featured, Sports.
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