NFL anthem protests: The market speaks

No NFL teams are corporations with stocks traded on an exchange, so those of us convinced that the pusillanimity of the owners has damaged the value of their businesses have no market gauge to rely on.  But there is one price signal on a publicly traded market: the value of aftermarket tickets to NFL games resold on sites like StubHub.  Emily Zanotti writes on the Daily Wire:

It turns out, if you can still stomach a professional football game, you can now get tickets for about the same price as a couple of Starbucks lattes.

According to Vivid Seats, an NFL ticket reselling site, seat prices at most NFL stadiums have bottomed out, leaving fans able to snag a lower level seat for a Buffalo Bills game for an astounding three dollars. Tickets at center field, right on the fifty-yard line (typically hard to find), will run you around $30. ...

[E]ven big-name teams aren't faring much better. Tickets to see the Chicago Bears at Soldier Field are going for around $20. Tickets to see the Green Bay Packers start at around $10.

Season tickets obviously are sold before the season begins, which means that next year's season tickets should experience serous downward price pressure, unless the league takes action to change the blowback.  But I expect that the most noticeable effect the owners will encounter is reduced demand for luxury boxes.  Companies spend vast sums on them because they create a pleasant, exciting atmosphere for their clients and associates.  Inject political controversy into that experience, and the advantages of the skybox evaporate.

I've never been to an NFL game (and never plan to go), so maybe I am wrong.  But I am no longer watching their games on TV, so they no longer are able to rent my eyeballs to advertisers, and I know I am not alone.

I am looking forward to the next sale of an NFL team.  My guess is that the seller is going to find out that the price of selling out the flag is much higher than anticipated.

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