Knicks To Increase Season Ticket Prices Average Of 49 Percent
NEW YORK (WFAN/AP) -- MSG goers temporarily saw ticket prices skyrocket on StubHub.com after New York's trade for Carmelo Anthony.
According to the New York Post, Knicks season ticket holders can soon expect a permanent rise in dues.
"Madison Square Garden management will announce today a substantial rise in Knicks season-ticket prices for next season," reported the paper, citing a source close to the situation.
According to Forbes, the Knicks' average ticket price is currently $88. That's second only to the Lakers, who charge a whopping $113 on average.
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Knicks owner and MSG chairman James Dolan has avoided raising prices for six seasons, steadfastly sticking to his no-playoffs, no-price change policy. With the Knicks likely headed to the NBA playoffs, thanks to the additions of Carmelo Anthony and Amar'e Stoudemire, Dolan is expected to announce the increase on Friday.
Madison Square Garden is in the early stages of a renovation expected to cost more than $800 million, with extensive work slated for the next two summers. The seating configuration in the lower bowl will change beginning next season, with the upper bowl to follow in 2012-13.
The Knicks have sold out their full-season ticket inventory for the first time since 2001-02, due to fans excited to watch a team that has shown flashes of late-90′s glory. 4,000-plus new season tickets were bought before the season.
The Knicks' value rose 12 percent from $586 million to $655 million this year, according to Forbes, and is now ranked as the NBA's most valuable franchise.
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