TiqIQ explains how Jeremy Lin has provided an even bigger boost to Knicks ticket prices than Carmelo Anthony did last year.
For two straight seasons, one of the biggest stories in the NBA has belonged to the New York Knicks. Last year, it was The Melodrama and Carmelo Anthony's trade to New York after months of rumor and speculation. This year, it's Linsanity. While the two stories couldn't be any different -- one, a disgruntled superstar forcing a trade; the other, a classic underdog tale -- they both have had a significant impact on the Knicks' home ticket price average.
As shown below, in the week following the Carmelo trade last season, the average price for Knicks home games jumped 25 percent, from $204 to $256, according to ticketing information gathered by TiqIQ. This year, Linsanity has had an even bigger impact, raising prices an average of 33 percent, from $229 to $304. While fans in New York love their superstars, the comparison seems to show that they love a great Cinderella story even more.
The Knicks brass are also thrilled to be back at the center of the basketball universe. The 2012 edition, however, has come at a significant discount compared to the 2011 model. With his salary of $18 million, the buzz generated by Anthony‘s trade cost the Knicks $805,000 for each percentage point of price increase. This compares to just $23,000 for each percentage point increase that Linsanity has driven.
For those looking to score a deal for Knicks games the rest of this year, there are only a handful of games left with tickets under $100. If Lin can continue to help the Knicks win, come spring, the current average of $304 may be as distant a memory as Lin's spot at the end of the Knicks bench.