NEW YORK -- The Yankees and Stubhub announced on Monday that they have reached agreement on a multiyear sponsorship deal, designating the company as the team's official fan-to-fan ticket resale marketplace.
The new product allows StubHub to be completely integrated into the Yankees' ticket system, replacing the Yankees Ticket Exchange, and it concludes the Yankees' previous partnership with Ticketmaster.
The Stubhub system will be operational by July 7, with the first ticket availability for the July 15 game and extending through the remainder of the 2016 schedule.
"We are committed to providing our fans with a first-class ticket experience, and offering the safest, most secure and efficient platform for our fans to sell and purchase tickets," said Yankees President Randy Levine. "This new product was the result of many productive discussions with StubHub, which will allow them to fully integrate into our ticket system. We are confident this collaboration will best protect our fans in the resale ticket marketplace."
Financial terms of the deal were not disclosed, but it is believed to be worth more than $100 million over the life of the deal, according to ESPN.
The companies said that the deal will provide new features and functionality to enhance the consumer experience, leading to increased user efficiency and fan safety and protection. These added features aim to prevent speculative selling, adhere to the Yankees advertising resale price policy, generate verified bar/QR codes, and provide fully integrated mobile capacity.
"The New York Yankees are one of the preeminent brands in professional sports, and we are thrilled to join with them to create a best-in-class fan experience," said Scott Cutler, president of StubHub. "StubHub's goal is to ensure that fans have access to games that they love to attend, and I'd like to thank both the Yankees and MLB Advanced Media for their willingness to come to the table and reach a positive solution for all parties."
All tickets delivered via the system will be mobile. Tickets will operate on both iOS and Android devices. Users can post hard stock tickets, but upon being sold, all will be converted to mobile format.
To date, more than 250,000 fans have entered Yankee Stadium using mobile tickets (primary and secondary combined), and by the end of this season, the team expects to have welcomed more than 600,000 mobile-ticket users. This anticipated number is expected to be the largest among all teams in baseball.
The Yankees have now joined the longstanding StubHub arrangement that has been in place with MLB Advanced Media. In 2012, the Yankees and Angels had opted out of that arrangement.
Other secondary resale platforms will continue to remain an option for fans to buy and resell Yankees tickets, but only StubHub will be fully integrated with the team. As part of the sponsorship agreement, StubHub will receive full marketing and sponsorship benefits, including in-stadium signage, suite access and use of official team marks.