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.