October 07, 2009

Sports bubble watch: NBA, Yankees cut prices

More signs that the crazy inflation in sports ticket prices has found a ceiling:

• The New York Yankees provided more details on their previously announced ticket price cuts for 2010: They'll lower prices for their most expensive seats, the Legends Suite tickets behind home plate, from $2500 a game to a mere $1500, while some tickets in the $500-$1000 range (the ones that the Yanks had trouble selling this season) also will see price drops.
• NBA commissioner David Stern says he expects NBA revenues to drop in the coming season, and says a large part of the reason is price cuts that teams have instituted to keep fannies in the seats. "I would love to get it closer to 2-1/2 percent, but I don't think we're going to because our teams have cut their ticket prices or frozen them, so as a result, even if we have good attendance, we'll be taking in less revenue at the gate, and that's an important component. And that's OK. We're responding to our fans."