Super Bowl ticket prices off in secondary market

By Ben Klayman

CHICAGO (Reuters) - Tickets for the National Football League's Super Bowl could be the most affordable in years as a recession drives down prices, top ticket exchange executives said.

Ticket prices to watch the Pittsburgh Steelers battle the Arizona Cardinals in the championship game have slumped as much as 40 percent in the secondary market due to weak demand. The face-off is scheduled for February 1 in Tampa, Florida.

"The most obvious thing to point to is the economy," said Eric Baker, chief executive of viagogo, a London-based secondary ticket exchange. "There's no question that at the high end of the market, when things are softer, you get fewer people. Fewer corporations are going to shell out big bucks."

Ticket prices overall are down about 38 percent to about $3,100 (2,254 pounds), the lowest level since 2006, when the Steelers won their last title, Baker said.

Prices just at viagogo, which is backed by European venture capital firm Index Ventures, are down about 40 percent to $2,900.

The NFL, like most sports globally, has been hurt by the recession. Last month, the NFL, the U.S. sports league with the strongest television ratings, said it would cut 14 percent of its work force.

Tickets to the Super Bowl carry a face value of either $800 or $1,000, with about 1,000 tickets priced at $500 this year in response to the slumping economy. However, prices to popular sporting events are often resold at prices far higher than face value.

"We're seeing downward pressure on pricing across the board, no matter what the event is, including the Super Bowl," RazorGator CEO Jeff Lapin said. The Los Angeles-based ticket exchange is owned by several venture capital firms, including Kleiner Perkins Caufield & Byers.