Surprising no one, the New York Knicks will raise season ticket prices for 2011-12 substantially, reports the New York Post. The Knicks already had the second most expensive ticket in the NBA, despite years of failure on the court. New success with Amar'e Stoudemire and Carmelo Anthony in tow have made a substantial jump feasible, and without question Madison Square Garden will continue to sell out, raking in even more money for James Dolan and friends.
It's also worth noting that under the NBA's current soft cap system higher revenue brings with it a greater capacity to carry a massive payroll. Unlike the NFL, where a hard cap limits the amount of money a team can spend on players, the NBA simply imposes dollar-for-dollar penalties to teams paying more than a set amount.
The luxury tax hasn't discouraged many, many franchises from carrying massive payrolls; the Lakers, for instance, who draw more revenue than any other team, has a payroll of $90 million. (That turns into $110 million when you account for luxury tax payments. And L.A. has salary obligations of $90 million in each of the next two seasons.)
The Knicks have almost always paid the tax, including in down seasons. While Donnie Walsh has imposed fiscal responsibility in order to gain transaction flexibility, expect New York to soon be back among the biggest spenders in all of basketball.