Wednesday, March 19, 2008

World's Greatest Monopolist

Not content with exploiting teenage labor, the NCAA enters the scalping business (to protect their customers, of course):
The NCAA is ready to reap even more money from its men's basketball tournament by engaging in a practice it once frowned upon: The resale of Final Four tickets at prices well over face value.

It is having its official ticket package provider, RazorGator, move large blocks of prime tickets online at markups of hundreds, even thousands, of dollars.

The association entered the ticket resale business last year. It did so to protect its financial interests and to protect fans from counterfeit tickets, says Greg Shaheen, the NCAA's senior vice president for basketball and business strategies.

Late Tuesday afternoon, RazorGator was selling hundreds of all-sessions tickets to the Final Four at San Antonio's Alamodome, which will have capacity of 44,500 for the event. The tickets cover the national semifinals doubleheader, April 5, and the final, April 7. Some were selling for nearly 15 times their face value of $140-$220, and 14 blocks of at least 10 tickets were available in either the lower level, between the baskets or just outside the baskets.

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