T'Wolves execs anticipate overall season ticket renewal rates will be north of 80%NBAE/GETTY IMAGES
The T'Wolves said that even with the across-the-board increases at different season-ticket levels, some at 40% or more, the team will be in the "bottom 10 of season ticket prices next year," according to Michael Rand of the Minneapolis STAR TRIBUNE. T'Wolves Chief Revenue Officer & Senior VP Ryan Tanke said that season-ticket prices this season are in the "bottom five of the NBA." He said that the "loudest criticism" the team has heard is "fans saying, 'we've stuck with you and now you're raising prices.'" The T'Wolves are on pace for their first playoff berth since '03-04, and Tanke said that he "anticipates overall season ticket renewal rates will be 'north of 80 percent' this season from a base of 8,500 full season ticket equivalents." Losing about 20% of that base would mean a "loss of roughly 1,700 FSEs." But Tanke said that early projections suggest the T'Wolves will have a "net gain of 1,000 next season -- meaning the losses will be offset by 2,500 to 3,000 new season ticket customers." Tanke is "quick to point out" that the T'Wolves are a mid-market team, and ticket prices are "slated to climb more toward the middle of the pack in coming years through a 'series of increases' as long as they keep winning." The "delicate dance is doing so without alienating their longest-standing and longest-suffering clients in the process." Don Ackerman, a T'Wolves season-ticket holder for 11 seasons, said that his lower-level season tickets are "slated to increase" by 42% next season. As a result, he is "moving to a lower-priced seat and getting a single ticket instead of two" (Minneapolis STAR TRIBUNE, 2/15).
