Tennessee Senate Bill SB2505

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 7; Title 9; Title 16; Title 47 and Title 67, relative to personal seat licenses.

Impact

If enacted, SB2505 would significantly influence transactions related to PSLs by ensuring that long-standing PSL holders benefit from consistent pricing on upgraded seating options. This change would primarily affect fans and season ticket holders of major sports teams within populous metropolitan areas in Tennessee. The legislation seeks to create a more favorable environment for existing PSL holders by enhancing their purchasing power and retaining customer loyalty amidst potential seating upgrades offered by franchises.

Summary

Senate Bill 2505 aims to amend various titles of the Tennessee Code Annotated regarding personal seat licenses (PSLs) for professional sports franchises. The bill stipulates that contracts between PSL holders of at least ten years and sports franchises must include a provision allowing the PSL holder to purchase upgraded or improved seating for the same price as their existing PSL. This provision primarily applies to contracts involving stadiums with a seating capacity of 65,000 or more, located in counties with a metropolitan government and a population exceeding 500,000 as per the 2020 federal census.

Contention

One notable point of contention among stakeholders may revolve around the economic implications for professional sports franchises, which might argue that fixed pricing for upgraded seating could hinder their revenue potential. Opponents of the bill (if any) might also raise concerns about the impact on new fans or ticket buyers, who could face higher prices for new licenses without the benefit of the capped pricing afforded to long-term holders. The balance between protecting consumer interests and ensuring financial viability for sports franchises is likely to be a central theme in any ongoing discussions about this bill.