StubHub CEO Faces Congressional Investigation Over His Own Ticket-Resale Fund

StubHub CEO Eric Baker is facing renewed congressional scrutiny over his ownership stake in a ticket-resale fund that has generated millions of dollars in transactions on his company's platform, raising concerns about potential conflicts of interest and preferential treatment for professional ticket brokers.

Rep. Robert Garcia, the ranking Democrat on the House Oversight and Government Reform Committee, sent Baker a letter on October 22, 2026, demanding financial records and communications involving Andro Capital, a professional ticket reseller that Baker partly owns and helps manage. The California congressman is seeking details about money exchanged between the businesses and whether Andro receives advantages that could increase ticket prices for consumers.

The request expands an inquiry Garcia launched in July, when he sought records from Baker in his capacity as StubHub's chief executive. His latest letter addresses Baker as Andro's managing director and demands communications between the companies, financial records, and information about the fund's operations by November 5.

Andro purchases tickets in bulk and resells them through secondary marketplaces, including StubHub. Securities filings released ahead of StubHub's 2025 initial public offering disclosed Baker's ownership interests in both companies. According to congressional reporting and allegations in a separate consumer lawsuit, Andro has generated more than $5 million in ticket-sale proceeds through StubHub since 2022.

Garcia argues that Baker's positions on both sides of the transactions could create opportunities for preferential treatment. His letter questions whether Andro or its affiliates receive favorable ticket placement, financing arrangements or other benefits unavailable to smaller sellers competing on the same platform.

"Eric Baker appears to be using his positions at Andro Capital and StubHub to profit, potentially at the expense of customers, fans and artists," Garcia said, describing the arrangement as an apparent conflict of interest and a "potential grift."

StubHub's own financial disclosures provide additional details about the relationship. In its quarterly filing for the period ending June 30, 2026, the company reported generating no seller fees from tickets sold by Andro during the first six months of either 2025 or 2026.

The filing does not explain whether the absence of those fees resulted from negotiated commercial terms, the volume of transactions or other factors. Garcia's inquiry seeks information that could clarify the financial arrangements and whether they offer Andro advantages over competing ticket sellers.

Another connection involves Colloquy Capital, an Andro affiliate that provides short-term financing to professional resellers. Under a July 2024 agreement, StubHub refers certain sellers to Colloquy for financing backed by proceeds from ticket sales on the platform.

As of June 30, 2026, Colloquy held security interests in $10.8 million in seller proceeds under that arrangement, according to StubHub's regulatory filing. A separate services agreement generated approximately $600,000 in fees for StubHub during the second quarter of 2026.

Those disclosures establish an ongoing business relationship among StubHub, Andro and Colloquy, although they do not establish that the companies engaged in unlawful conduct or provided preferential treatment.

StubHub has defended its relationship with Andro, maintaining that Baker's investment was publicly disclosed and that the fund operates as a separate business. The company has described Andro as one of several vendors providing services through its marketplace and said the relationship represents a small fraction of its overall revenue.

Garcia's letter is a congressional document request rather than an enforceable subpoena. As the committee's ranking minority member, he cannot independently compel Andro to produce the records. His office has also indicated that discussions with StubHub remain ongoing over the information sought in July.

The inquiry follows separate consumer litigation challenging Baker's financial interest in Andro. Ticket buyer Louis Sanquini sued StubHub and its CEO in July, alleging that he believed the platform operated as a neutral marketplace and would have made different purchasing decisions had he known Baker also held a stake in a professional ticket reseller.

In September, U.S. District Judge Jed S. Rakoff ruled that Sanquini must pursue his claims through individual arbitration, finding that clicking StubHub's "Buy Now" button bound him to terms requiring private dispute resolution and barring class proceedings.

The decision addressed the enforceability of StubHub's arbitration agreement rather than the underlying allegations about Baker's financial interests. Sanquini's federal lawsuit remains stayed while those claims proceed outside court.

His attorney, Keven Steinberg, has since indicated that additional ticket buyers could pursue separate arbitration claims, potentially expanding the consumer dispute even though the proposed class action cannot proceed in federal court.

Garcia has given Baker until November 5 to respond to the latest document request, which seeks to establish how Andro's ticket sales and financing relationships operate alongside StubHub's marketplace business.