Major League Baseball

Yankees, StubHub strike deal, set resale ad price floor

Published Jun. 27, 2016 3:50 p.m. ET

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NEW YORK (AP) The Yankees and StubHub ended their squabble, announcing a sponsorship agreement Monday that sets an advertising minimum price for resale tickets.

StubHub will become the official fan-to-fan ticket reseller for the Yankees, replacing Ticketmaster's Yankee Ticket Exchange, and will be fully operational July 7. Ticketmaster will still remain the primary ticket vendor for the Yankees.

The agreement is worth about $100 million to the team over 6 1/2 years, a person familiar with the negotiation said. The person spoke on condition of anonymity because the value was not disclosed.

Speaking at a news conference, Yankees President Randy Levine said generally the lowest price a seat can be advertised for resale will be 50 percent of what a ticket is sold for as a part of a full-season plan.

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