How Superstar Athletes Change the Scope of NBA's Ticket Prices
Cory Doyle | | Oct 29, 2014 05:13 PM EDT |
The National Basketball Association 2014-2015 regular season officially begun Oct. 28. Anyone planning on attending any Cleveland Cavaliers games this season should be prepared to pay for the most expensive tickets in the entire league.
According to ticket sales company Vivid Seats, the Cavs' average price for tickets this season is $386. That's almost double the amount of big-market teams including and Chicago Bulls, Los Angeles Lakers and New York Knicks. Then again, those teams don't have LeBron James, Kevin Love and Kyrie Irving.
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Take a look at each team's average and median ticket prices in the chart below courtesy of Forbes.com:
(Photo : Forbes)
Just last season, the Cavs had the second-least expensive ticket prices in the league with a median price of a mere $25. So what's changed? Call it the "LeBron effect."
LeBron is without a doubt one of the most popular athletes in all of sports. His return to Cleveland this year has created such a buzz for Cleveland's Qucken Loans Arena that the Cavaliers will have to set up a monthly lottery just for fans to receive single-game tickets.
It's no secret the business side of the NBA is dominated by superstar players. Just take a look at the Los Angeles Lakers whose coming back from their worst season in history. Even though the Lakers have been given little chance to win the title, or even make the playoffs for that matter, they still have the second-highest average and median ticket prices in the NBA - all thanks to superstar Kobe Bryant.
Furthermore, the "Lebron effect" also known as the superstar effect, determines how many games each team will make National TV appearances. The Oklahoma City Thunder and LA Clippers are tied for first with 32 national televised games. Followed close behind are the Cavs and the Bulls with 29 and 30 national televised games, respectively.
In comparison, the Boston Celtics are considered a big-market team, but with their lack of superstar talent, they only have four total games broadcasted on national television.
For fans hoping to witness some of the NBA's biggest superstars this season, be prepared to spend a staggering amount of money compared to most of the less fortunate but still exciting teams to watch around the league.
TagsTicket prices, Forbes, Vivid Seats, Lebron James, cleveland cavaliers, Los Angeles Lakers, NBA national games
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