asu in the news 02-06-08 to - ASU News - Arizona State University
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The Guy Page<br />
lWike Lubow<br />
Patrick Kampefi<br />
Chris McNamam<br />
Deal<strong>in</strong>g<br />
sport<br />
ticket<br />
futures<br />
OK so <strong>the</strong> Bears didn t<br />
make it <strong>to</strong> this year s Super<br />
Bowl But ifyou re will<strong>in</strong>g <strong>to</strong><br />
pony up anywhere from 182<br />
<strong>to</strong> 322 a seat you can guar<br />
antee you ll be <strong>in</strong> Tampa for<br />
next year s big game if<strong>the</strong><br />
Bears make it<br />
Those prices which vary<br />
accord<strong>in</strong>g <strong>to</strong> seat<strong>in</strong>g charts<br />
are far below what <strong>the</strong> face<br />
value of a ticket would be but<br />
can be locked <strong>in</strong> thanks <strong>to</strong><br />
yoonew corn which was<br />
started <strong>in</strong> 2004 by a couple of<br />
MIT grad students Gerry<br />
Wilson and Hagos Mehre<br />
teab Wilson played corner<br />
back at Pr<strong>in</strong>ce<strong>to</strong>n<br />
Yoonew works like a fu<br />
tures or options exchange if<br />
your team doesn t make it <strong>to</strong><br />
<strong>the</strong> Super Bowl your money<br />
is gone unless you ve man<br />
aged <strong>to</strong> sell your option <strong>to</strong><br />
someone else Professor<br />
Stephen Happel of <strong>Arizona</strong><br />
<strong>State</strong> <strong>University</strong> proposed a<br />
Chicago TribuneCity<br />
Circulation: 917868<br />
DMA: Chicago, IL<br />
futures exchange for sports<br />
tickets <strong>in</strong> a 20<strong>02</strong> paper and<br />
has consulted with Yoonew<br />
Wilson said<br />
It s <strong>the</strong> only place <strong>to</strong> get a<br />
ticket <strong>to</strong> a major event for a<br />
price below face value he<br />
added O<strong>the</strong>r biggies like<br />
<strong>the</strong> World Series and basket<br />
ball s F<strong>in</strong>al Four also are<br />
available on <strong>the</strong> site and<br />
Wilson and Mehreteab said<br />
<strong>the</strong>y may expand <strong>to</strong> o<strong>the</strong>r<br />
events from concerts <strong>to</strong> <strong>the</strong><br />
college World Series <strong>to</strong> <strong>in</strong>ter<br />
national events such as soc<br />
cer and cricket<br />
One confluence of circum<br />
stances several years ago<br />
forced Wilson <strong>to</strong> cash out his<br />
401 k <strong>to</strong> pay for tickets but<br />
s<strong>in</strong>ce <strong>the</strong>n <strong>in</strong>ves<strong>to</strong>rs pumped<br />
2 million <strong>in</strong><strong>to</strong> <strong>the</strong> company<br />
<strong>to</strong> solidify its future he <strong>to</strong>ld<br />
<strong>the</strong> New York Times Some of<br />
<strong>the</strong> owners of Admit One a<br />
major New York ticket bro<br />
ker have made <strong>in</strong>vestments<br />
<strong>in</strong> Yoonew anti <strong>the</strong> young<br />
firm leases office space from<br />
Admit One Wilson <strong>to</strong>ld <strong>the</strong><br />
Tribune<br />
But most people who want<br />
<strong>to</strong> see a Super Bowl or NCAA<br />
championship don t care<br />
how <strong>the</strong> sausage is made<br />
<strong>the</strong>y just want <strong>to</strong> see <strong>the</strong> big<br />
game That was <strong>the</strong> case for<br />
Bob Thom M of Westmont<br />
Thorn himself a ticket bro<br />
ker—he owns classytick<br />
© Copyright <strong>02</strong>/03/20<strong>08</strong> Chicago TribuneCity Cision USA, Inc.<br />
All Rights Reserved.<br />
Unlicensed Reproduction, Sale or Republication Prohibited.<br />
City: Chicago<br />
<strong>State</strong>: IL<br />
Account: 2565G0<br />
Date: <strong>02</strong>/03/20<strong>08</strong><br />
Pub Num: ILD236SUN<br />
Section/Page: M8<br />
Page Count: 1 / 4<br />
ets com—bought futuresfor<br />
a Bears Super Bowl appear<br />
ance last year and ended up<br />
with four tickets two of<br />
which he sold<br />
I ve had season tickets<br />
s<strong>in</strong>ce 84 he said In <strong>the</strong><br />
second season <strong>the</strong>y went <strong>to</strong><br />
<strong>the</strong> Super Bowl but back<br />
<strong>the</strong>n I didn t exactly have <strong>the</strong><br />
means <strong>to</strong> go<br />
Yoonew has improved its<br />
system s<strong>in</strong>ce last year Thom<br />
said allow<strong>in</strong>g its options<br />
traders <strong>to</strong> specify seat<strong>in</strong>g<br />
areas for tickets unlike 2007<br />
In <strong>the</strong> last month he bought<br />
and sold options on Dallas<br />
Green Bay and <strong>the</strong> New York<br />
Giants end<strong>in</strong>g up with a<br />
pair of Super Bowl ticket<br />
options on <strong>the</strong> New York<br />
Giants that he pgzfnasad for<br />
about 500 each and sold for<br />
3 900 apiece<br />
RefNo: 336734
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