The Brooklyn Nets are lifeless final in the NBA with regards to season ticket gross sales — with demand off greater than 30% from final year as the brand new season suggestions off, sources instructed The Post.
For the 2022-23 marketing campaign, billionaire Joe Tsai’s money-losing franchise had offered roughly 5,500 season tickets on the 17,732-seat Barclays Center, in line with an NBA proprietor and an insider who each noticed a current confidential league report.
That’s properly under final year’s complete — which insiders estimated between 8,000 and 9,000 — and lands the Nets in final place among the many NBA’s 30 groups, in line with league insiders.
The Nets declined remark. A supply near the workforce didn’t dispute the league-worst season ticket figures however mentioned the membership depends much less on these gross sales to fill the Barclays Center than workforce’s in different markets.
The Nets’ income from the 2022-23 season ticket gross sales ranks in the center of the pack as a result of Brooklyn expenses greater than smaller-market groups, an NBA workforce proprietor instructed The Post.
“They do not focus on season tickets as much as others because they believe they can make more on same-day tickets,” one other supply mentioned.
“But it is still core to their business and represents most ticket sales.”
The Nets have chased away many loyal followers after jacking up costs on some seats by greater than 50% for the workforce’s 41 residence video games at Barclays Center, a number of sources instructed The Post.
Last season, single-game gross sales buttressed the season ticket complete to assist the Nets end tenth in common paid attendance, in line with NBA confidential financials obtained by The Post — not far behind crosstown rival Knicks. The Nets drew 14,919 per recreation, a 26.3% spike from the earlier non-pandemic year, producing $2.15 million in common internet gate receipts, a 108.5% improve year-over-year, in line with the information.
Despite final season’s hovering attendance, the Nets and Barclays Center lost between $50 million and $100 million, The Post reported completely, among the many worst in the league.
The workforce suffered via a tumultuous season and barely made the playoffs, but Tsai raised season ticket costs for 2022-23 earlier than the postseason started — solely to see his workforce flame out in the primary spherical regardless of having the third-highest payroll in the NBA.
After being swept by the Boston Celtics in 4 video games, the Nets lowered costs in the summer season for some long-term season ticket holders, sources instructed The Post.
But their shot to retain stout supporters appears to have been an airball.
A season ticket holder who gave up two prime courtside seats instructed The Post the $3,500 per ticket he had been paying in his three-year expiring contract skyrocketed to $5,400, a 54% soar. Over the course of 41 residence video games, the brand new plan would have price $221,400 per ticket.
Tack on one other $200,000 per playoff ticket if the Nets make it to the NBA Finals and the “two tickets are almost $1 million,” mentioned the fan, requesting anonymity.
“I couldn’t justify the price they wanted,” he mentioned, including that he has been a season ticket holder for the reason that Nineties. “We know three or four other season ticket holders who did not renew. One said he would rather give money to Ukraine than give the Nets extra money.”
Overall, final season’s common ticket costs have been 66% greater in comparison with the final non-pandemic year. Tsai, who has an estimated internet value of $8 billion, purchased the Nets from Russian mogul Mikhail Prokhorov in 2020. The co-founder and chief govt of China e-retail large Alibaba paid $2.35 billion for the workforce and one other $1 billion for the license to function the sector.
The Nets entered this season with a $190.5 million payroll – behind solely the LA Clippers ($199.2 million) and NBA champion Golden State Warriors ($196.2 million) – placing them over the NBA wage cap and Tsai’s deep pockets on the hook for $108 million in luxurious tax.
The star-studded roster that includes Kevin Durant, Kyrie Irving and Ben Simmons packed Barclays Center to capability for Wednesday’s season opener in opposition to the New Orleans Pelicans. The Nets have been routed 130-108 and in the course of the broadcast on YES, there have been a number of TV advertisements pushing season ticket plans.
On Friday, the Nets hosted their second recreation and once more offered out due to late single-game ticket gross sales.
A former NBA proprietor mentioned the Nets’ cleaning soap opera away from the hardwood earlier than the season began performed a task in suppressing season ticket gross sales.
Durant demanded Tsai both fireplace Coach Steve Nash and General Manager Sean Marks or commerce the 33-year-old ahead. Tsai held agency in opposition to Durant’s ultimatum and the star caved on Aug. 23, deigning to honor the practically $200 million, four-year contract extension he signed in 2021.
Fans confirmed their displeasure in the course of the Nets’ annual Practice in the Park on Oct. 9. Some 8,000 workforce loyalists booed Nash and gave Durant a lukewarm reception.
“I know that it took up most of the offseason and drama sells, I get that; but I didn’t miss any games, I didn’t miss any practices. I’m still here. So hopefully we can move past that,” Durant mentioned earlier than the beginning of the season.
Irving’s future with the workforce was additionally in doubt. The all-star guard sat out nearly all residence video games final season as a result of he refused to get the COVID vaccine — violating the town’s mandate. He stays unvaccinated however the metropolis has lifted the restrictions.
Irving admitted the previous summer season was sloppy.
“It was kind of a clusterf–k,” he mentioned.
The ex-owner mentioned it’s wiser to attend to see how the Nets get out of the gate as an alternative of buying season tickets and threat getting caught with them if the workforce implodes.
“I don’t think fans like off-the-court drama with their teams,” the previous proprietor mentioned.