Sports Law Professor Galloway Says the Bears Are Not Alone in Raising Prices
What’s the real reason for raising ticket prices? Do you need more revenue? Is it to cover an increase in expenses. Is it because other teams are doing it? Or is it because you can?
Last year the Chicago Bears had the worst record since 1978, yet ownership is raising ticket prices for the 2017-2018 season by an average of 2.6%. And that’s for all the seats in Soldier Field.
Interestingly enough, CBS News rates Soldier Field the “fourth most expensive stadium to watch an NFL game.” That observation gets more push-back from the fanbase who many feel that everything is already overpriced. There’s also the feeling from more than one fan that the Bears’ owner, the McCaskey family, should examine more closely how they treat their loyal fans.
Ironically, the Bears already have a problem filling the seats, which makes one wonder about the timing of a price increase. But then the Bears aren’t a company with a board of directors. Ownership doesn’t need anyone’s approval. They can just do it.
Libba Galloway, visiting assistant business and sport law professor at Stetson University in Florida, takes the position that “how the team performs on the field is going to be the most determinative about whether or not people come out to games, not so much what the ticket prices are.”
Galloway goes on to state that “the Eagles, Chargers and Lions have announced price hikes during the offseason for the upcoming season, too.” She adds, “Teams also have to factor in other aspects of business unique to professional teams, such as escalating player salaries and the ever-growing pressure to expand the fan experience.”
Read more about sports law expert Libba Galloway at – http://bit.ly/2ttRh0g