10/11 — The New York Jets today announced that the team will give fans 15 years to complete terms for all PSLs purchased in the New Jets Stadium, including the Coaches Club, the best seats in the house. Full payment and five-year financing are also purchase options for PSLs.

The first auction of Coaches Club seats will begin on Sunday, Oct. 19, and run through Monday, Oct. 27, exclusively on StubHub. For more information visit www.jetscoachesclub.com.

Here is a chart showing Jets Coaches Club sample payment terms (*Greater of $5,000 or 20 percent down):

Aside from the auction, the sale of seats in the New Jets Stadium will use a priority system based first on seniority, according to Jets box office records, and then on seat location. Waitlist members will have the opportunity to purchase seats after season tickets holders. Depending on availability, season ticket holders will be able to upgrade to a Club-Member PSL or a PSL in the lower bowl or mezzanine end zone, or to purchase a seat that requires no PSL in the best available location.

The initial auction will open with a minimum bid of $5,000 per seat for each PSL in order to prequalify bidders. Bidding on a variety of seat locations — including front row and 50-yard line tickets — will be staggered throughout the auction. Tickets will be auctioned in minimum lots of two.

Following the Coaches Club Auction, the sale of Club Member PSLs will follow during the winter. The remainder of the seats, including the seats with no PSLs, will be available in the spring of 2009.

The New Jets Stadium is scheduled to open for the 2010 season. The team in late August announced its seating plan, which included no PSLs for all 27,000 seats in the upper bowl and financing options for all PSL owners.