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 finished the 2013-14 season with exactly the same record as 2012-2013. But, the team and its fans say it sure feels different.
The City of Sacramento could get as much as a million dollars as the local share of construction-related sales taxes collected for a new arena downtown.
As the demolition date for the portion of the Downtown Plaza where the arena will be built looms, business owners prepare to move or close.
Sacramento's Planning and Design commission have approved plans for the King's downtown arena.
A judge has given Sacramento possession of a former Macy's department store downtown, the last parcel of land needed for the development of a new sports arena.