Tickets for the upcoming Mayweather-Pacquiao boxing match sold out in a matter of seconds on Thursday, leaving many fans frustrated as prices skyrocketed on the secondary market just minutes later.
According to the Las Vegas Review-Journal, only 500 of the 16,700 seats at the MGM Grand Garden were available to the public.
"It’s very strange. I’ve never seen a stranger situation in my whole life," Brad Schy, who operates Musical Chairs Tickets, a brokerage based in Brentwood, California,
told Bleacher Report.
The May 2 fight has been scheduled for months, however neither Floyd Mayweather nor Manny Pacquiao signed a contract until last week, which stalled the ticket creation and distribution process.
Once they did, ticket prices were announced at face values ranging from $1,500 to $7,500.
Only a few hundred seats were made available for sale to the public by the ticketing company, and the rest were given to the fighters and the MGM Grand. Those parties will have to work out their own deals to sell their portions of the tickets.
StubHub, a dominant company in the secondary tickets market, did not allow tickets to be posted for resale until the public sale was complete, but communications manager Cameron Papp said that the fight may end up being the most in-demand match in the site's history.
Across secondary markets, tickets were listed for as low as $5,495 in the upper levels to $90,000 for floor seats. This angered longtime fans of the boxers, who said that the bandwagon looky-loos had priced them out.
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