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.
Six months after receiving the approval to begin construction of a downtown arena, the Sacramento Kings and the City of Sacramento have broken ground.
The first demolition work is underway at the site of the Sacramento Kings' future home.
The Downtown Plaza garage entrances at 6th and J and 6th and L are now closed as construction begins on the downtown arena.
People with affiliations to the group Sacramento Taxpayers Opposed to Pork have filed notice they will appeal a judge's decision denying a request for an injunction blocking the downtown arena project.
Parts of Downtown Plaza will be demolished Friday to make way for the Sacramento Kings arena project.