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Wolves Lower Prices
for Next Season
About 12,000 season ticket holder seats, or 65 percent of inventory, are
being reduced in cost for the 2007-2008 season by the Minnesota
Timberwolves. Team president Chris Wright
told Sports Headliners earlier this week that renewal notices were
recently sent to season ticket holders and the price roll back on so
many seats is precedent-setting for the franchise.
The
Wolves have also introduced a $20 lower level season ticket for
2007—2008. There are 1,400 of those seats available and the price ranks
among the lowest ever offered by the Wolves.
Wright said “market conditions” prompted the aggressive pricing
changes. The team is on course to miss the playoffs for a third
consecutive season after reaching the Western Conference finals in the
2004 playoffs.
“This
is a great NBA market,” Wright said. “What you have to do is align the
pricing with the demand for the product to motivate the market to
participate in your brand. We think this motivates people.”
Some
season ticket holders will pay more for their seats next season. The
Wolves are increasing prices on average by about $50 per game for 214
courtside seats. Also, many seats between the baselines will cost
season ticket holders $10 per game more in 2007-2008.
Wright expects a season ticket holder renewal rate similar to last
year’s 82 percent. The rates in 2005 and 2004 were 88 percent and 93
percent respectively.
Wright said the team still has a waiting list for seats close to the
court. The Wolves also have deposits for nearly 600 new season tickets.
The
current season ticket total of 7,000 is low compared to the 10,000 plus
the franchise had during other years. Group sales, special individual
ticket pricing, promotions and special events helped put fans in the
19,356 seat Target Center this season.
The
Wolves are averaging 16,013 fans, ranking 23rd in NBA attendance earlier
this week. Last
season the Wolves averaged 16,150 fans per game and ranked 25th
in the 30 team league. The franchise’s success as marketers includes
selling out six games this season after selling out only one last
season.
The
Wolves have tried to meet season ticket holder discontent directly at
gatherings such as a recent “town hall” meeting that included vice
president of basketball operations Kevin McHale.
Wright said topics included trades, draft choices and “team chemistry.”
Customer communications efforts also produced a four color brochure
mailed to season ticket holders, Minnesota Timberwolves, Blue Print
for the Future. The brochure includes a message from owner
Glen Taylor stating the team made a mistake in recent years
“chasing quick fixes to shortcomings that we had as a team.” The
brochure describes the team’s operating philosophy and criteria in areas
such as player acquisition, scouting and style of play. |