In a divorce, all of the assets must be broken down and divided between a couple. One particularly tricky asset to divide is a pair of season tickets. Season tickets are sold for all types of major sporting events including baseball, football, and basketball.
As the divorce mediation proceeds, a variety of options are available for the season tickets. Learn about the options and ways to approach the breakdown of sports tickets.
1. Splitting the Tickets
If the divorce heads towards an even fifty-fifty split, then you may choose to do the same for the season tickets. As you decide how to split the season tickets, consider multiple options. For example, you may decide to split the tickets evenly. If you have season tickets for two seats, then each spouse would retain a seat.
If you do not want to feel forced to sit next to the person at games, you may request a seat change through the official ticket office. You may receive tickets to every other game or one person attends the first half of a season while another attends the second half.
You could also agree to split the tickets on a season by season basis. For example, one person would receive the tickets for the whole 2020 season while the other person would receive the tickets for the whole 2021 season.
No matter how you choose to split the tickets, the final decision should be in writing. A family law attorney will help ensure everything is written out and legalized so you and your former spouse have no disputes about the tickets in the future.
2. Buying the Tickets
If one spouse enjoys the sporting event more than the other, you have the option to purchase the tickets outright. As part of the agreement, you may compensate the other person for the value of their half of the tickets. As a ticket holder, you may also have a personal seat license.
Many teams require fans to have a personal seat license to purchase season tickets. The license is the key to season ticket access and is often the only way to purchase season tickets.
During a divorce, one of the main aspects of a season ticket negotiation may be the personal seat license. The license has extra value because you may sell the license at a later point to someone else who seeks out season tickets. A lawyer may help negotiate so you have full ownership over the license.
You may agree to pay half of the license fee to your former spouse to obtain the full ownership. The license could also be part of another agreement. For example, one person may want the seat license while another wants a shared timeshare. If the values are even, then the couple may split up the
assets equally.
Once an agreement is made, you may have to talk to the ticket office of the sports organization to ensure the seats are in the single person’s name and not the names of both you and your former partner.
3. Selling the Tickets
During a divorce, both parties may decide that neither want the tickets anymore. In the scenario, you would sell off the tickets and seat license. In most circumstances, both parties would split the profits evenly.
The profits would most likely mix into the larger pool of assets and profits like bank accounts. A lawyer will help determine whether to move all the funds into one pool or to keep the season tickets separate.
For more help on your divorce proceedings, contact us at the law office of Travis Van Winkle LLC. We will help navigate through all your questions with a divorce.