A few days ago, Joel updated us on the Kansas City Chiefs' season ticket refund policy, which basically said that in the event that regular season or preseason games are missed because of the lockout, season ticket holders will get their money back. Sports Illustrated's Jim Trotter was talking about season ticket refunds this afternoon on Twitter and threw out a couple interesting tidbits I had not heard.
First, every team except the New York Giants is requiring at least a partial payment towards season tickets during the NFL lockout. As one person noted on Twitter, at least the Giants "get it." I agree with the idea of not paying for games that technically aren't going to be played but frankly trying to reorganize the season ticket process is a nightmare for NFL teams. Just imagine the logistics involved of changing dates, requirements, etc. It would be nuts.
Next, there is an official league wide policy of issuing refunds for season tickets if games are missed. Also, a number of teams' refunds include the cost of the season tickets plus, wait for it, 1% in interest! Yes, 1% interest. Many NFL teams have already notified their season ticket holders about the interest rate. Trotter mentioned that interest was apparently a league-wide policy as of this afternoon but we have not officially heard about the interest rate from the Kansas City Chiefs themselves.
Trotter says that the interest rate the Jaguars will be offering is the rate that Jacksonville bank EverBank has for it's money market accounts. I think the Jaguars were trying to stand out a bit here but EverBank's current money market rate is barely above the NFL's policy. It is currently 1.13%.
So Chiefs fans, are the NFL teams' offers of a refund plus 1% a nice gesture to the fans? Or too little, too late? What about being required to make payments towards season tickets during a work stoppage?