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July 18, 2007

In move to Brooklyn, average Nets ticket price would leap

Atlantic Yards Report analyzes the ticket prices for a new Nets arena:

Thanks significantly to 170 new high-priced suites, the “blended average ticket price” for Nets games would go up dramatically, 73% for regular-season games and 64% for playoff games, upon the team's move from the Continental Airlines Arena in the Meadowlands to the planned Barclays Center arena.

The leap: from $74.98 to $129.72 for regular and preseason games, and from $90.71 to $149.18 for playoff games.

The price of most tickets likely wouldn't rise as sharply as the average--which would be distorted by the nearly sixfold increase in suites--but the projected boom in ticket revenues suggests one reason for a new arena.

The projections surfaced in a document provided by developer Forest City Ratner and unearthed by the lawsuit filed by Assemblyman Jim Brennan and State Senator Velmanette Montgomery.

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NoLandGrab: Ratner's luxury-box dependent plan runs counter to an emerging trend: other team owners have been removing luxury boxes as demand has slipped due to "changes in tax laws to scandal-driven reforms on corporate entertaining."

Posted by lumi at July 18, 2007 8:05 AM