The Hornets sent out a letter to current season ticket holders today explaining what would happen with their “investment” in the event that the current lockout results in preseason or regular season games being missed.
If you’re a season ticket holder, you have to choose one of two options-
The Gold Option deposits refunds from any missed games (plus 10% more) into your Hornets account. On top on that the Hornets will donate another 5% to a charity that purchases tickets for Hornets games for kids.
Or, with a package called the Standard Option, you can choose to receive a refund on any games missed, plus a 1%Â annualized interest rate based on the principal on your account which will begin to accrue on October 1, 2011.
Clearly, if you are going to purchase tickets for the foreseeable future regardless of what happens with the lockout, the Gold Option is superior. Getting 10% on your money is a pretty incredible return right off the bat. It’s not even annually from what I can tell. Just boom! In your account.
Say the Hornets were to miss 10 home games and your 5 tickets were 20 dollars each. Not only do you get your $1000 back into your account, you’ll get an additional $100 to spend on next year’s tickets or upgrades, plus you’ve just sent $50 for organizations like The Boys & Girls Club, United Way and surrounding area Parks and Recreation Departments.
Under the standard plan, you would get your $1000 back in installments, plus interest amounting to less than $1 per month to spend how you see fit.
Under either plan, if we miss the entire season, you get your money back at some point, so your money is safe. Either way, this is the most cost-effective way to be a season ticket holder . . . as it may be FREE! Yes, really.
From what I can see around the league there hasn’t been a better deal for offered for season ticket holders of any other team (See a better one? Let us know), but on the other hand some people will just want their money in their hand.
What will you do?
Here’s the full letter from the Hornets-
WORK STOPPAGE PROTECTION GUARANTEE
Dear Dear Hornets Krewe Members:
By choosing to be a 2011-12 season ticket holder, you have shown in the most important way that you are “IN” for the Hornets, and it is our commitment to continue putting our fans first in everything we do.
As you are likely aware, the current negotiations between players and the NBA have not resulted in a new collective bargaining agreement, and a work stoppage has occurred. First, let us assure you that all of the league’s efforts are focused on reaching an agreement that is in the best interests of the fans, teams, players and the game. The goal is to find a sustainable business model that enables all 30 teams to compete for a championship, fairly compensates players, and ensures a world-class experience for fans.
With that said, it still undoubtedly raises many questions for you as a season ticket holder. Will an agreement be reached before the season begins? Will games be missed? Regardless of the outcome, we want to assure you that your investment with us is not only a safe one, but also a smart one..
In appreciation of your support, we are taking our commitment to you a step further. While there are two options to select from in the event that any games are missed in the upcoming season, we are excited to offer you additional benefits with the Gold option that further reward your loyalty!
GOLD OPTION:
- Your investment remains safely on your account
- You earn an additional 10% of the value of any games missed on your account that can be used for many purposes including additional tickets, playoff tickets, renewals, etc!
- AND an added 5% of the value of any games missed will be donated to our charity ticket program, which provides free tickets to local youth organizations such as The Boys & Girls Club, United Way and surrounding area Parks and Recreation Departments!
- Deadline to select this option is FRIDAY, JULY 29th
– OR –
STANDARD OPTION:
- You will receive a refund on any games missed plus a 1%Â annualized interest rate based on the principal on your account. Interest will begin to accrue on October 1, 2011. Refund and interest payments will be paid on a monthly basis.
Hopefully, neither of these options will be necessary, but we have developed this plan to ensure that the most important people in this equation, our Season Ticket Holders, are completely protected.
Please click the link below to let us know which option you wish to select. As always, should you have any questions regarding this situation, please contact your Hornets Account Executive, [or call 504-525-4667]. Thank you again for your support and GEAUX HORNETS!
10 responses to “Hornets Offer Options to Season Ticket Holders”
Thanks Joe G. If there is anyone on this blog that we can count on to provide us with valuable news, it’s you. Speaking of which, when Niall was Editor-in-Chief, we could view one another’s profiles and track all comments. Can we bring that back and have following capabilities a la twitter? I think that’d be very nice addition to the blog.
Joe does a good job, doesn’t he?
You can stop with the backdoor insults, by the way. I’m not going anywhere and have tried to make nice. I’d appreciate it if you reciprocated. We don’t need more negativity to add to that of the lockout.
I’m studying up on improvements to the site and will take your suggestions down. They are good ones.
Naill designed this lastest version of the site, by the way.
You woke up at 5 in the morning to write this? Way to go. My comment was a compliment to Joe G. and a suggestion to him, Mac, and Ry. There is zero mention of you, so don’t flatter yourself.
You and your other accounts were told not to stir the pot, so don’t do it. This blog is about supporting the Hornets community, not shooting each other down.
I woke up at 3:30 to help build one spaceship and help launch another.
The suggestion is for the site, and incase you haven’t noticed, I help keep it running, too.
You are clearly and remorselessly insulting me regularly, as you have done with others, and stirred the pot generally, as you did after game 6.
I will begin deleting offending comments from you, just as I do when others are insulted. I’ve given you a wide berth since you were only attacking me, but it’s been years and kindness hasn’t worked.
I truly hope I never have to delete your comments, as I do value much of whay you bring here.
There is some spam-like activity on this thread and others from a user.
If it continues, your account will be disabled.
I do work to make this site better, not to clean up a mess that is being made over and over again.
Please, stop.
That’s not a bad deal and pretty good thinking on their part too. It’s clear they put some thinking into it because it looks attractive to the buyers and theres little to no risk on the part of the hornets.
(ps. when is hornets report gonna unban me?)
Agreed about the Hornets.
About HR: at this point the procedure is to contact the admins there and they will guide you through the process. Let us know if that fails.
I am choosing the Gold Option. Theres a 100% chance I will still be a season ticket holder after the lockout, so why not get the extra 10% added to my account? It’s a no brainer.
Ditto, edbsavin.
Gold option.