Knicks season-ticket renewal rate exceeds 97 percent

7 Comments

The Knicks played an exciting if ultimately flawed brand of basketball last season, and finished with the second best record in the Eastern Conference behind only the eventual champion Miami Heat.

New York has retained its best players, and added some depth in the form of Andrea Bargnani, Metta World Peace, and Beno Udrih to the roster.

The team is not necessarily being projected by most to finish as high as it did a season ago, but based on last year’s success, the faithful that were in it for the long haul aren’t looking to jump off of the bandwagon any time soon.

From Marc Berman of the New York Post:

According to data that will be announced publicly Wednesday on the Garden’s earnings call, the Knicks’ season-ticket renewal rate skyrocketed to more than 97 percent – the highest renewal rate for the club in more than 10 years. Last year’s renewal rate was 95 percent.

Part of that boost may be the notion this is their last, best crack at legitimately competing for a championship in what could be Carmelo Anthony’s last season as a Knick. The increase occurred despite a 6.4 percent average ticket price hike due to the last stage of the arena’s $1 billion, three-year transformation.

It’s worth noting that this isn’t necessarily a reflection of a team’s fan base, given that a large percentage of season tickets, especially the ones closest to the court, are purchased by corporations and used for entertainment purposes. And the better the product is, the more enticing those trips to the arena can be for a company’s current or potential clients.

As for the part about it potentially being Anthony’s last season there, even though he could choose to become an unrestricted free agent next summer, it’s far too early to get into all of that now, and it’s highly unlikely that anyone based their buying decision on the notion that the upcoming year in New York might somehow end up being Anthony’s last.

But with all of that being said, it’s still a great sign for the business of basketball that even with such a steep increase in price, the demand remained as high as ever to see the Knicks in person.