StubHub to become official resale source for MLB tickets
SANFRANCISCO— EBay Inc.’s ticket-reselling subsidiary StubHub announced a five-year dealWednesday night making it the official source of secondary tickets for Major League Baseball.
The agreement puts StubHub in charge of secondary ticket sales atMLBAdvanced Media LP’s Internet site MLB.com, and for individual team sites, such as the San Francisco Giants’ SFGiants.com.
Financial terms were not disclosed. But StubHub spokesman Sean Pate said MLB, which is owned by the 30 baseball franchises in Canada and the United States, would share revenue with the e-commerce company.
Buyers at StubHub.com pay a 10 percent fee, while sellers are charged a 15 percent commission. If a baseball ticket sells for $100, the buyer pays $110 and the seller pockets $85, so $25 would go to StubHub and the baseball teams.
StubHub buyers paid more than $400 million for tickets last year, generating more than $100 million in revenue for the company.