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9.29.2005

A Small Gesture 

In recent weeks cynics have pointed out that the Giants' playoff "run" was a great way for the team to make season ticket holders cough up dough in anticipation of post-season games. Even if the team didn't make the playoffs and eventually returned the cash advances, the thought went, they'd still earn interest holding the money for a few weeks.

Which is probably true. The cost of a full strip out in the bleachers where I have two tickets was $787, or about $390 per seat.

The Giants have 28,271 season ticket holders according to this story, so let's use my ticket package as a base for thumbnail calculation: 28,271 x $390 = $11 million. This is an extremely rough minimum, obviously. The real amount the Giants received is probably 4 times that. (Most tickets are two to five times my ticket price, but I'll bet many ticket holders didn't bother sending in money given the snowball-in-hell scenario the team faced.)

I sent my payment in Sept. 19. I just got notice that they're refunding it in full. That's a minimum of ten days of my money and millions of other people's dollars gathering interest. Any bankers out there? How much can a corporate client earn over ten days on $40 million?

Enough to pay for a starting pitcher next year?

And whatever the number is, it's why I'm heartened by the Giants' mention, along with notification of my refund, that the tickets didn't actually ship and I won't be charged the $25 handling fee. Isn't that nice?

I'm a wee sardonic, but I also realize they easily could have tacked that on. It's a small gesture that I appreciate.

If you have more accurate numbers on season ticket holders, average price for playoff tix, etc., plug them in and refine my back-of-napkin math.

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