By Jeremy Olshan
As the NBA season continues to be played out in courts of law – instead of on hardwood — ticket resellers appear to be giving up hope.
Stubhub, a major reseller of pro basketball tickets, this week suspended all sales of future games. “We made the decision to curb resale activity to avoid potential bad experiences for fans,” spokeswoman Joellen Ferrer says. If the season remains suspended, ticket buyers would have to return tickets and wait for refunds, while sellers would send out “tickets for nothing.”
And even though refunds are being offered to season-ticket holders, as we reported at the start of the lockout, many fans depend on reselling a portion of their seats to offset the costs. Should the season be cancelled entirely, a total of $87.9 million in potential such revenue would be lost on the resale market, according to an analysis of TiqIQ, a site that aggregates data from across the secondary market. If the two sides work out a deal for a 50-game season, the losses would be $36.1 million.
A shortened season would not, however, increase the value of individual tickets – even though they would be in shorter supply, says Chris Matcovich, spokesman for TiqIQ. “Most value in games in determined by opponent and game scenario,” with playoff clinchers being the most expensive, he says. Fans may also sour on the NBA in general and want to stay away, he says. “There could be somewhat of a revolt.”