May 4, 2012
Things were bad for the Charlotte Bobcats this year. Like 7-59 bad. Like worst season in NBA history bad. Like many calling Michael Jordan one of the worst owners in history bad.
Things were bad, get the point?
So bad in fact that the Bobcats know that they need to either increase demand in their product, the team doesn’t have a lot going for it other than the likelihood of getting the #1 pick in June’s NBA draft, or lower their price to the point that supply meets demand. Economics 101.
Their solution? A Pay-The-Pick promotion.
Under the promotion, the per game season ticket price will be equivalent to the Bobcats pick. Therefore, if the Bobcats were to pick 1st? Season tickets would cost $43. The Bobcats can pick no later than 4th (they have a 35.7% chance of picking fourth, compared to a 25% chance to receive the #1 pick) which means that season tickets at most would cost $172. Each fan will be limited to purchasing four season tickets.
Now, granted, the seats are in the upper deck. And, the Bobcats did only have seven wins, as I mentioned earlier…but with the lowest season ticket currently being $344…who can pass up a sale…right?
For those looking to get in on the Pay-The-Pick promotion, act fast. The promotion expires May 31st.