Word: ticket
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Dates: during 2000-2009
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...financial turmoil, some distressing signs have already crept onto the field. Because of worries about the U.S. economy, the NBA is eliminating about 80 jobs, or 9% of the league's workforce, and it shuttered its Los Angeles office. Commissioner David Stern has predicted a "modest" decline in season-ticket sales, though sales in some markets, like Houston, are strong. "I will say that corporate sponsors are a bit later than usual coming to the party," says Houston Rockets CEO Tad Brown. "That's the one area where we've had to be more attentive and where we've seen...
...recently sent a memo to teams, warning them that league revenues would be "under pressure." He asked them to control costs and seek new revenue streams. This season, baseball attendance fell about 1%, the first drop in four years, and that demand is reflected in the market for playoff tickets. Last year, a ticket for a Boston Red Sox American League Championship Series game sold for an average of $448 on StubHub.com, the leading secondary-market ticket site. This year, that average price dipped like the Dow: it was $244, a decline of about 50%. In the Tampa area, World...
...economy and the team's second straight horrific collapse down the stretch. The New York Yankees have also reported strong luxury-box sales for their new stadium. On Oct. 19, the first day of a public auction for personal-seat licenses that give you a right to buy season-ticket packages for future games, the Jets exceeded their benchmark target of $25,000 for the premier seats in their new stadium, according to CNBC. (Though prices have dropped since then.) Overall, baseball's 2008 revenues rose to $6.5 billion, from $6 billion last season, and NHL season-ticket sales...
...strong revenue growth that baseball, football and basketball have enjoyed throughout the decade is clearly in jeopardy. After baseball crowns either the Phillies or the Tampa Bay Rays as world champions this month, its offseason will test the resilience of the sports economy. Will ticket purchases for 2009 drop? And will free agents command the same salaries? Legends like Los Angeles Dodgers outfielder Manny Ramirez, the prime catch in the free-agent market, will always break the bank. But don't expect those left-handed middle relievers to score the same ludicrous contracts as in recent years. "Player salaries...
...food, they'd be pulled off the shelves--has gotten Childers some second looks from fed-up voters. Jim Lyons, a Republican whose trucking business is on the brink of failure, said after meeting Childers at a diner in tiny Mathiston that he's done with straight-ticket voting. "People are sick to death of all the incompetence and corruption in Washington," he said...