New York Knicks to Raise Ticket Prices 49 Percent
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Hopefully Knicks fans enjoy Amare Stoudemire and Carmelo Anthony, because they'll be paying a whole lot more to watch them next season.
The New York Post is reporting that the team plans to raise ticket prices by an average of 49 percent for the 2011-2012 season, the largest single-season jump in recorded history.
The added salaries of Anthony and Stoudemire aren't the only reason, though, or even the primary one. Knicks officials have cited a $700+ million renovation to historic Madison Square Garden as a key driver behind the price hike.
Even so, it appears clear that Knicks President James Dolan, who hasn't always been the most-loved figure in New York sports, felt the time was right to capitalize on the good will surrounding the Knicks' turnaround and likely first playoff appearance since a first-round sweep by the Nets in 2004.
According to Forbes magazine, the move would make the Knicks the second team in the NBA with an average ticket price north of $100. The other team above that threshold, the Los Angeles Lakers, have missed the playoffs just five times since their inception in 1948. The Knicks, on the other hand, have missed the playoffs in each of the last five seasons.
The Lakers also own 16 NBA championships, including five in the past 11 years, compared to the Knicks' two and zero, respectively. Given the discrepancy of the success level between the two franchises, the similarity in ticket prices seems a little less warranted.
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