Saints Fans Are Shrewd Investors
Published: September 19th, 2007By Bucstats.com weblog
If you've been looking for a way to tie the profitability of your long-term investments to the success of a historically shitty NFL team, boy have I got good news for you!
Omni Bank is giving its customers another reason to root for a stellar season from the New Orleans Saints. For each team win, the bank will boost the interest rate of a six-month certificate of deposit.
The bank will increase their 5.09% annual yield (which is not the same as the interest rate) on their 6-month CD by .09%. If you do the math (and since you're not as sad and lonely as me, I'll do it for you,) that comes out to an additional $5.26 on a $1,000 note for an undefeated season. Meanwhile, the price restructuring the Saints enacted in 2006 caused average ticket prices to go up by about $5. Per game.
If the bank really wanted to get the fans involved, there should have been a little more at stake. Saints fans appreciate risk... they do live in New Orleans, after all. Instead of this one-way affair they have going now, the rate should also decrease with every loss. And they could add fun little bonuses, too. Like each time Reggie Bush fumbles, every customer gets $10 sucked out of their account. That could really add up after a few weeks. You want fan involvement, let's see some commitment to the cause.
