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The former head of a controversial ticketing company has weighed in on the prices to see events at the 2028 Summer Olympics in Los Angeles, saying the criticism of high costs is incorrect.
Fred Rosen, the former CEO of Ticketmaster, told James Rainey of the Los Angeles Times that the prices, which many people say are too high at more than $5,000 in some cases, are set at that level so that taxpayers don’t have to “subsidize” the Games.
“The L.A. Olympic [Organizing] Committee has every right to sell assets. It has to do that to make sure the city doesn’t pay any money,” Rosen told Rainey. “And the fair value is determined by whether people pay for the tickets or not.”
Jul 18, 2011; Los Angeles, CA, USA; General view of the exterior of the peristyle end of the Los Angeles Memorial Coliseum and Olympic torch. Mandatory Credit: Kirby Lee/Image of Sport-Imagn Images
It’s similar to the position taken by the organizers of LA28.
“The response to our initial on-sale was nothing short of historic. Fans from near and far have spoken: the world wants to be part of the LA28 Games,” LA28 chief executive officer Reynold Hoover said in a statement. “The success of Drop 1 is about more than momentum — it reflects LA28’s commitment to delivering a fiscally responsible Games that create a lasting legacy for Los Angeles and its communities.”
Rosen and Hoover are right about the demand, as shown by the speed at which $28 tickets for locals sold out, though more will be released in August.
That said, critics like ticketing company executive Ahmed Nimale told the Los Angeles Times that the ticket prices are “opaque.”
“Is this the best experience? For fans to be priced out potentially due to higher fees?” Nimale said. “My question is, are fans really getting the best shot to get tickets in the first place? There’s a need for transparency here that’s building.”
The post Former Ticketmaster CEO Defends $5,000 LA28 Olympic Tickets as ‘Fair Value’ appeared first on LA Sports Report.
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Fred Rosen, the former CEO of Ticketmaster, told James Rainey of the Los Angeles Times that the prices, which many people say are too high at more than $5,000 in some cases, are set at that level so that taxpayers don’t have to “subsidize” the Games.
“The L.A. Olympic [Organizing] Committee has every right to sell assets. It has to do that to make sure the city doesn’t pay any money,” Rosen told Rainey. “And the fair value is determined by whether people pay for the tickets or not.”
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Jul 18, 2011; Los Angeles, CA, USA; General view of the exterior of the peristyle end of the Los Angeles Memorial Coliseum and Olympic torch. Mandatory Credit: Kirby Lee/Image of Sport-Imagn Images
It’s similar to the position taken by the organizers of LA28.
“The response to our initial on-sale was nothing short of historic. Fans from near and far have spoken: the world wants to be part of the LA28 Games,” LA28 chief executive officer Reynold Hoover said in a statement. “The success of Drop 1 is about more than momentum — it reflects LA28’s commitment to delivering a fiscally responsible Games that create a lasting legacy for Los Angeles and its communities.”
Rosen and Hoover are right about the demand, as shown by the speed at which $28 tickets for locals sold out, though more will be released in August.
That said, critics like ticketing company executive Ahmed Nimale told the Los Angeles Times that the ticket prices are “opaque.”
“Is this the best experience? For fans to be priced out potentially due to higher fees?” Nimale said. “My question is, are fans really getting the best shot to get tickets in the first place? There’s a need for transparency here that’s building.”
The post Former Ticketmaster CEO Defends $5,000 LA28 Olympic Tickets as ‘Fair Value’ appeared first on LA Sports Report.
Continue reading...
