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Jets earn more than $16 million in online PSL auction

NEW YORK -- The New York Jets earned more than $16 million by selling 620 personal seat licenses for choice spots in their new stadium during an unprecedented nine-day online auction.

Bidding ended Monday night as the team auctioned off 2,000 PSLs for the exclusive Coaches Club -- located near the 50-yard line and behind the Jets' bench -- on the online ticketing Web site StubHub. It was the first time a U.S. sports team auctioned off PSLs online.

While the sale occurred as the stock market plunged, and fewer than half the available seats were sold, the team announced Tuesday that the average winning bid was $26,000.

Copyright 2008 by The Associated Press

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