• SmartMoney

Some Fans Will Profit From NBA Lockout


With at least the first two weeks of the National Basketball Association’s season unceremoniously canceled over the labor dispute, there is one small consolation: It’s league policy to offer refunds for any missed games – plus interest. Fans with tickets for cancelled games can also get credit toward tickets later in the season, according to the NBA.

Interest, though, is a novel twist. Some teams are paying as much as 2% — far better than many savings accounts these days – but the terms vary from team to team and may require actuarial math.

For instance, the New York Knicks are giving plan holders the choice of receiving 2% interest on their account balances for the duration of the lockout – with the money being applied toward future ticket purchases — or cash refunds with 1% interest, according to an email sent to season-ticket holders and reviewed by Pay Dirt. There are also other options depending on whether balances have been paid in full.

In Houston, a sweeter deal is on the table. The Rockets will apply the value of the canceled games toward 2012 playoff tickets or 2012-2013 season tickets; they would also receive a 5% credit to be used toward future regular-season or playoff tickets, merchandise, concessions or suite rentals, The Houston Chronicle reports.

For fans who planned to watch from home, ESPN has a contingency plan that will consist “mostly of college football and basketball” to replace the locked-out NBA games, according to the station’s website.

Will you take the refunds with interest or credit for future games?

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