Door and Kewaunee County sports fans may never be made whole for canceled sporting events and concerts that they have purchased tickets to attend. With the list of coronavirus cancellations continuing to jump in the world of sports, one of the largest companies in the ticket resale space is making a dramatic shift in policy. On Friday, StubHub announced that ticket buyers on the site would no longer get a full cash refund if an event were postponed or canceled in full. Instead, they will be gifted a coupon worth 120% of their original order.
There is a discussion about whether the move is legal, but it hints at something more distressing for the overall economy. The reason why StubHub is refusing to refund the buyers is most likely related to a cash burn problem. The business model isn’t built to handle a wipeout of all live events for months on end.