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SBJ/March 24-30, 2014/Franchises
Raptors find success off the court as well
Published March 24, 2014, Page 4
|The resurgent Raptors have already sold out more games than in all of last season.
Gate revenue is up 7 percent for the season, in part because of an average 2.5 percent increase in ticket prices. But the club also had posted 17 sellouts on the season as of last week (with eight home games remaining), compared with 14 for all of last season.
“We are selling better-quality seats,” said Dave Hopkinson, chief commercial officer for Raptors owner Maple Leaf Sports & Entertainment.
Television viewership for the team, the NBA’s only Canadian club, spans the country and is up 25 percent to an average of 150,000 viewers a game for broadcasts on TSN and SportsNet, Hopkinson said.
Sponsorship revenue also is on the rise. The club benefits from playing in North America’s fourth-largest market and leveraging corporate deals from its fellow MLSE-owned teams, the NHL’s Maple Leafs and MLS’s Toronto FC.
“There is a lag in sponsorship, but we have moved up from 11th in the league last year to seventh in the league this year in sponsorship revenue,” Hopkinson said.
Much of the success for Toronto this season has come since December, when the team traded away Rudy Gay to Sacramento as part of a seven-player trade. It’s a deal that revamped the Raptors’ roster, coming at a time when the team was 7-12 on the court. Since then, the Raptors have gone 30-17, surging to the top of the Atlantic Division and surpassing last year’s 34 victories with a month to go in the season.
It’s created talk of not only playoffs but also next season in Toronto. To date, the Raptors have sold 500 new full-season-ticket packages for next season, and they expect that number to grow as they package this year’s anticipated postseason appearance with the marketing of next year’s season tickets.
“We are very pleased,” Hopkinson said. “The number [of new fulls] last year was inconsequential.”
The activity comes as the Raptors are set to complete their rebranding efforts: A new logo and new team colors are expected by April 1.
The effort stems from MLSE President and CEO Tim Leiweke, hired last year, working to overhaul the Raptors franchise since coming to Toronto. The initiative has included Toronto-born rapper/entertainer Drake being added as a team ambassador.
Leiweke, speaking last week at the 2014 IMG World Congress of Sports, said a name change was even in his early plans for the club. “Yeah, I don’t like Barney the dinosaur,” Leiweke said, “but I got outvoted.”
Hopkinson would not disclose any specifics about what will be seen in the weeks ahead other than to say, “We are into the home stretch in making some final decisions on the team’s feel and logo.”