Ticket resale caps are a bipartisan disaster hurting fans
Wimbledon captivated global audiences this summer with record-breaking digital viewership, but behind the scenes, the annual tennis event is facing a quiet threat. It comes not from a rival tournament, but from a government policy that could unravel its financial foundation: ticket resale price caps.
The United Kingdom is weighing legislation that would restrict the resale of event tickets above face value. On its face, that sounds like a fan-friendly idea. But at Wimbledon, that cap could devastate the event’s unique and essential debenture program. Long-term premium seats — legally resold at market value — have generated more than $670 million over the past decade, money that’s directly reinvested in fan experience, facilities and maintaining Wimbledon’s global prestige.
Eliminating that flexibility kills the financial incentive to buy. And when this model collapses, so does a major source of long-term investment. It’s economic self-sabotage disguised as populism.
This isn’t a theoretical risk. It’s already playing out in real time, and not just in the UK. It’s already crossed the Atlantic, and now those same mistakes are making their way to American shores.
In Maine, a new law gives venues the power to cancel ticket resales and caps........
© Sports Business Journal
