Thanks to a new promotion, Detroit Pistons season-ticket holders will be able to earn money back next season.
The Pistons and Flagstar Bank announced a program on Wednesday called “Pistons IPO: Initial Pistons Offering” which allows fans to earn up to 5% annual percentage yield on their season ticket deposits through Dec. 31, 2020.
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After purchasing season tickets, a Flagstar representative will reach out to fans to set up accounts with the bank. Their deposit funds will be held in a Flagstar Bank certificate of deposit account, and interest will be paid out monthly to their Flagstar Bank checking account through the end of the year.
With the 2020-21 NBA season currently in a flux because of the ongoing COVID-19 pandemic, and many sports fans experiencing financial challenges, the Pistons and Flagstar Bank believe the promotion will give fans additional value for their money.
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“This is a great win for Pistons fans,” Matt Allen, Flagstar Bank chief marketing officer, said in a statement “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.”
Season ticket packages purchased between Sept. 2 and Oct. 31 will qualify for the program, and the deposit must be paid in full. Eligible season ticket packages include full-season, half-season and 10-game packages.
Flagstar Bank became a sponsor for the Pistons in 2017, and their corporate logo appears on a patch on the Pistons’ uniforms.
Contact Omari Sankofa II at osankofa@freepress.com. Follow him on Twitter @omarisankofa. The Free Press has started a new digital subscription model. Here’s how you can gain access to our most exclusive Pistons content. Read more on the Detroit Pistons and sign up for our Pistons newsletter.