With the economic downturn hitting all facets of the country, the once recession proof sports industry is starting to show its cracks.
In 2009, we are seeing teams trying to drum up business by freezing ticket prices and in some cases even reduce certain plans, so cash strapped fans can afford to go the game.
That’s of course in everyplace but New York. Right now it’s business as usual for the top event tickets. The Mets and Yankees are opening new stadiums which increased ticket prices across the board, while the Jets and Giants are instituting personal seat licenses for their new edifice, opening in 2010.
In the Bronx, there’s no sign of a recession for Bombers, as they put the finishing touches on New Yankee Stadium. By spending $1.3 billion on their new home, the team vaulted the top Yankee tickets to $2500 a game. Even with Wall Street in turmoil, the Yankees will have no problem selling out the new stadium.
With this cash-cow, the Bombers were able to get the top free agents on the market. They first signed CC Sabathia as their new ace, on a seven-year, $161 million contract. This was followed by the inking of righty A.J. Burnett for five years and $82.5 million. Then, right before Christmas they shocked the baseball world by landing first baseman Mark Teixeira for the next decade and $180 million.
“We knew we were weaker in some areas than others,” Yankees co-chairman Hal Steinbrenner said. “We’re going to improve on those areas. We’ve done it every year and our track record shows that.”
The same holds true in Queens, where the Mets are set to open up Citi Field. With 12,000 less seats than Shea Stadium, the team hopes the demand will be out there to keep the stadium full. The most expensive ticket will cost around $800, which is significantly higher than across the parking lot.
Of course, that also allowed the Mets to spend with a bullpen upgrade. Both Francisco Rodriguez and J.J. Putz were acquired during the Winter Meeting and general manager Omar Minaya is working on acquiring a starting pitcher, be it Derek Lowe, Oliver Perez or Randy Wolf.
In the football world, both the Jets and Giants will ask fans to pony up for the personal seat license. Big Blue should have less of a problem, because the team looks like it’s on its way to another Super Bowl. But the Jets collapse has made owner Woody Johnson’s job much more difficult. After going 1-4 in their last five games, the Jets dismissed Eric Mangini and are looking for a new coach. It’s going to be tough because someone like Bill Cowher would be perfect, but Johnson probably doesn’t want to give him total control.
It’s an important pick, because fans need to write $25,000 checks in March.
Posted under New York Mets
This post was written by Joe McDonald on January 2, 2009















