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Peyton Manning's Absence: The Astounding Impact on Indianapolis Colts Ticket Prices Last Season(March 09, 2012)
SOUTH WINDSOR, CT -- (Marketwire) -- 03/09/12 -- When the Indianapolis Colts and owner Jim Irsay decided to part ways with quarterback Peyton Manning on March 7, 2012, Irsay insisted that the $28 million bonus and additional $7.4 million for Manning's 2012 salary he was due to receive on March 8 had no effect on the decision. The 35-year-old four-time MVP quarterback previously underwent surgery to surgically fuse his neck and is coming off a season where he didn't play a game. While Peyton Manning's impact on the field is undeniable after witnessing the Colts' 2-14 record without him, his impact on the Indianapolis Colts ticket sales is equally amazing.
Without Peyton Manning last season, total revenue for Indianapolis Colts tickets sold on Ticket Liquidator, one of the largest ticket marketplaces on the secondary ticket market, dropped by 90 percent from the previous season. The amount of tickets sold on Ticket Liquidator for the Peyton-less Colts this past season dropped by 75% and the average ticket price dropped by almost 60 percent. And that's not even including ticket sales from the 2011 Colts AFC Wild Card playoff loss to the New York Jets, the last time Peyton Manning donned a Colts uniform. 324 tickets sold at Ticket Liquidator for that game at an average ticket price of $152.10. By comparison, the Colts sold only 352 tickets all of the 2011-2012 NFL season at Ticket Liquidator and revenues from ticket sales for that one playoff game were almost triple the revenue for Colts tickets all of last season.
At the start of the 2010-2011 NFL season, the Indianapolis Colts were coming off a 31-17 loss to the New Orleans Saints in the Super Bowl held Feb. 7, 2010. Peyton Manning would lead the Colts to a 10-6 record that season, earning them the AFC South title and a spot in the playoffs. During the 2010-2011 NFL regular season, almost 1,500 Indianapolis Colts tickets were sold on the Ticket Liquidator exchange at an average price of $123.60. The Indianapolis Colts played the entire 2011-2012 NFL season without Peyton Manning, suffering a 2-14 record and earning the first pick in the 2012 NFL Draft in the process. The Colts finished in last place in the AFC South and sold a total of 352 tickets at Ticket Liquidator at an average price of $53.05. Peyton Manning's impact both on and off the field to the Colts' organization this past year is undeniable.
When Peyton Manning signed his last Colts contract on July 30, 2011, the contract was for 5 years and $90 million, an average of $18 million a year. While Jim Irsay wanted to make him the highest-paid player in NFL history, Manning chose to accept less money in order to free up the Colts front office to be able to sign other players.
"Whether I deserve to be the highest-paid player over the next five years is irrelevant," Manning told The Star. "I would rather them use that money and keep the players they want to keep and get other players. I told them that."
Colts owner Jim Irsay tweeted after the contract was announced, "It's a credit 2 Peyton; he put Colt fans, teammates, Ind. n winning ahead of all else."
However, less than a year later, Peyton Manning is gone, and it remains to be seen what the economic impact his absence will have on Colts' ticket sales moving forward.
About Ticket Liquidator: Ticket Liquidator is a nationwide network through which companies and consumers list tickets for 60,000- 80,000 events at any particular time. Offering customers access to almost 10,000,000 tickets through its marketplace, Ticket Liquidator specializes in hard-to-find concert tickets, theater tickets and sports tickets from North America and all the way to Canada and Europe. Ticket Liquidator is headquartered in South Windsor, Connecticut. Ticket Liquidator is in no way associated with the Indianapolis Colts, Peyton Manning or any venues listed.
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