Sacramento Kings ticket prices will be going up for the 2014-15 season.
The team says some of the increase is due to a new 5 percent surcharge that will help fund construction of a downtown arena.
"We're very mindful of what happens on the secondary ticket market, which is sort of a pure look at supply and demand," he says. "And, certainly, we see that as prices increase over time on the secondary market, there's an appetite and a willingness to pay more for tickets." ~ Chris Granger, Kings president
Granger says the team monitors resale prices for tickets every day, and that demand increased immediately after the team changed owners.
Prices will increase by as little as a dollar and by as much as $50 depending on the seats. The price increase for each seat as not yet been determined. Tickets for Wednesday's game ranged from $15 to $825.
Scott Welder was at Sleep Train this morning to buy a ticket for a game in March.
He says he doesn't mind the smallest of the increases, "I'm OK with a dollar."
As for the high end of the increase, he doesn't mind that either.
"I’d never be able to sit in those seats anyway. So, it doesn’t matter to me." ~Scott Welder, ticket buyer
This is the first price increase for Kings tickets in five years.
The Sacramento Kings have released an updated work plan for the new downtown Sacramento arena than had been released before.
A judge has ruled a lawsuit over a non-binding term sheet between the City of Sacramento and the Sacramento Kings is without merit. But, the judge says the plaintiffs may amend the lawsuit to target the recently-approved arena project.
A new Sacramento arena hasn't been built yet, but the team is already selling the arena experience in a new office downtown.
The council voted 7-2 Tuesday night in favor of the new arena project. Many of the people who spoke against the arena project at the city council meeting have gone to court to try to undo the council's decision.
Six members of the Sacramento City Council and the Mayor voted to build a $477 million arena where much of the Downtown Plaza Mall sits now.