Detroit Pistons Team With Flagstar Bank To Announce New Pistons IPO: Initial Pistons Offering Season Ticket Promotion
First-of-its-Kind Season Ticket Promotion Provides Purchasers Opportunity to Earn Money Back on Deposits by Utilizing Flagstar Bank CDs and Checking Accounts
DETROIT (September 2, 2020) – The Detroit Pistons and Flagstar Bank announced today they have teamed up on a new season ticket promotion called “Pistons IPO: Initial Pistons Offering” where fans purchasing 2020-21 season ticket packages from September 2 to October 31 can earn up to 5% Annual Percentage Yield (APY1) on their season ticket investment through December 31, 2020.
The new season ticket promotion is the first of its kind in the NBA and demonstrates the power of the Detroit Pistons and Flagstar Bank partnership to deliver benefits to fans. Fans participating in the “Pistons IPO” program will earn money back from their deposit through interest paid on a Flagstar Bank certificate of deposit (CD) account between the date of a new season ticket purchase and December 31, 2020. Eligible season ticket products include full-season, half-season and 10-game packages.
“We are excited to work with our partners at Flagstar Bank in creating an innovative season ticket promotion that provides a money-making opportunity for Pistons fans purchasing new season tickets while accounting for the fluidity of today’s sports landscape,” said Mike Zavodsky, Chief Business Officer of the Detroit Pistons. “While we all eagerly await the safe return of fans to our games next season, your season ticket deposit will work for you and accrue funds that can be used at a later date.”
Program logistics are simple:
- Fans can sign up and purchase an eligible new season ticket package under the “Pistons IPO” promotion by contacting a Pistons ticket representative at 313-PISTONS
- Participating fans will be contacted by a banking representative from the nearest Flagstar Bank branch to open a CD (certificate of deposit) and a Flagstar checking account
- The Pistons will place the new season ticket purchase funds into the Flagstar account designated by the fan purchasing an eligible season ticket package
- Every month through December 31st interest earned on the CD will be placed into the Flagstar checking account associated with the purchaser of tickets for the new season
“This is a great win for Pistons fans,” said Matt Allen, Chief Marketing Officer for Flagstar Bank. “It’s an opportunity for them to get a lock on Pistons season tickets, while experiencing first-hand the value and benefits of being a Flagstar customer. We have a lot of pride in the way we get to know customers and put solutions within their reach. We’re pleased to team up with the Pistons to bring fans these accounts we think they’ll love.”
To be eligible for the “Pistons IPO” promotion, all season tickets must be paid in full. No additional funds can be deposited into the initial CD and the plan is not available for businesses. Please visit pistons.com/ipo for more information.