Apparently the bubble for MLB’s secondary ticket market has burst. At least that’s according to Tom Van Riper. In a recent article posted on Forbes.com, titled “No Ticket To Riches,” Van Riper takes a serious look at StubHub and how the reselling business has not performed up to the expectations of Major League Baseball.

StubHub is the official reseller of all but one Major League Baseball team (the lone exception is the Boston Red Sox). The online company has also signed a few NFL and NBA teams.

Before the economic down turn, fans flocked to StubHub and other online resellers to unload their tickets for much more than they originally paid for them.

MLB owners, always looking for additional revenue streams, partnered with StubHub to profit off of the sale of their tickets on the secondary market. Now, when MLB tickets are sold on StubHub’s website fees are split between the two entities.

However, the economy has slowed. Corporations that once “fueled” the secondary market can no longer afford (both financially and in the court of public opinion) to buy premium tickets at premium prices.

With lower demand, many tickets on the secondary market are selling for far below face value price. The lucrative revenue stream promised by Stubhub is not living up to expectations.

Besides the prospect of additional revenue (and what business wouldn’t want that), partnering with StubHub does have a practical purpose for Major League Baseball.

Having StubHub as your official ticket reseller gives fans a safe and convenient place to sell their unwanted tickets. Many MLB teams believe having an official ticket reseller, like StubHub, actually helps retain season ticket holders.

The downside to partnering with Stubhub is that savvy fans, already tired of high ticket prices, grow irate with Major League teams getting a cut from the sale of tickets they’ve already sold before.

Ultimately that’s what this discussion is all about. Should MLB teams, that make millions of dollars a year, be in the business of selling their tickets twice—once on the primary market and then again on the secondary market?

There’s an old adage that comes to mind here, “there’s no crying in baseball.” Certainly no one will shed a tear if the secondary ticket market fails to live up to MLB’s expectations.

Additionally, MLB teams seem to have overestimated the allure of StubHub’s security. This is not your father’s internet anymore, or even your older brother’s. Internet users are smart and they know a charlatan website when they see one. Official online resellers are no longer necessary for consumers to conduct secure transactions.

Finally, and the article addresses on this point, regardless of whether or not MLB teams remain in the secondary ticket market, they need to stick to what they do best.

“[Teams] need to focus on getting people in the door, if they do that right the rest of the ripple will be strong,” says David Carter, a sports business consultant from the Sports Business Group.

If Major League Baseball wants the secondary ticket market to be viable revenue stream they need to work harder at getting fans into their stadiums.

The same goes for StubHub. If economic conditions continue they will have a difficult time acquiring any new partners within the other major sports leagues. Those franchises would rather commit their energies to the primary sale of their tickets instead of the secondary sale.