Entries tagged with “Money” from Global Sports Buzz

The NBA is going through an "up-down" situation in response to their season ticket holding sales. The economic downturn is lowering the average renewal rate, as it has dropped to 80 percent compared with 84 percent to date last year. However, their is 11 teams over 10,000 season ticket holders compared to 10 teams last year. The Utah Jazz has 14,000 and The Los Angeles Lakers are second with less than14,000 full-season tickets sold. The Oklahoma City Thunder sold nearly 13,000, while the Golden State Warriors have sold more than 12,000. The biggest increase in season ticket sales goes to the Blazers and Hornets adding over 3,500 tickets for the season. The Lakers a high season-ticket retention rate, renewing at a 99 percent rate. Next are the Celtics at 97%. But to other teams, ticket rates are being dropped because of the failing economy. After the first and second payments, these tickets are etting dropped because of the money. A main ticket base shrink is the Miami Heat, which was among the leaders in season-ticket sales years before. This can be accountable due to the terrible economy in South Florida or the 67 lossed the Heat indured last year. Their are positives but many negatives in this years ticket situation.

http://www.sportsbusinessjournal.com/article/60465

I love the NBA and its fan base. But to see season ticket sales to be dropping because of the failing economic crisis is heart breaking. Sports, especially basketball, is a safe haven for many people during times of high stress and money situations. If these sporting events just add to stress and increase money problems, the sport will be doomed. It is clear and is understandable that the Blazers and the Hornets are increasing sales due to their rising team status. It is also acceptable to see that the Heat is losing ticket sales. It is crazy however to see how Miami was just a couple years ago and its fan base, to now which is very bleak. Yes; there are a lot more problems that need to be fixed with this economy. But sports are important to and this ticket crisis must be figured out in order for our society to stay uplifted. Money is money and the NBA will move on, but in losing fans because of money is just not right.