Here’s a sign the economy is turning around -- the Cleveland Cavaliers are going to raise ticket prices next year. Well, that or it’s a sign that Cleveland’s management took the brown acid despite repeated warnings.
The fine people at the Sports Business Journal have the details.
Season-ticket prices will go up about 3 percent across the board as the Cavs look to leverage their success while riding a 65-game sellout streak at Quicken Loans Arena. The increase also comes as star LeBron James faces an uncertain future in Cleveland. James becomes a free agent this summer and is expected to be heavily courted by big market teams like the New York Knicks.
Cavs executives said customer research did not show an impact to the decision to raise prices.
“Our polling showed the majority of interest for people to come back,” said Mike Tomon, vice president of sales and service for the Cavaliers. “Our approach was to keep an eye on the economy [and] reward loyalty...Here’s what your polling actually shows -- people will pay just about anything to see LeBron James play. Especially if he is on a championship team. If he goes to New York or Miami or some crazy rumor like the Lakers, and your team is led by Antwan Jamison and Mo Williams, you’ll find the economy hasn’t turned around as much as you think.