One MLB team is actually lowering ticket prices

One MLB team is actually lowering ticket prices
October 5, 2011, 3:42 pm
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From Comcast SportsNet
NEW YORK (AP) -- The New York Mets are cutting some ticket prices for the third straight year at Citi Field after another losing season. The team said Tuesday it will introduce what is known as "dynamic" pricing for individual tickets -- meaning the cost of seats may fluctuate based on demand. The Mets, beset by financial and attendance problems, said Tuesday they are cutting the cost of season tickets by up to 39 percent. Prices were lowered by 10-20 percent after Citi Field's first season, then by an average of 14 percent following 2010. New York drew 2.35 million in its third season at Citi Field, down from 2.57 million last year and 3.15 million in 2009. It was the Mets' lowest total since 2004, when they played at Shea Stadium. For much of this year, tickets at Citi Field often sold below list price on StubHub.com. The Mets said the "dynamic" price in areas where season tickets are sold will not be allowed to drop below the discounted price offered for season tickets at any point in the season. The dynamic pricing system is programmed by Qcue Inc., which the Mets said already manages dynamic pricing for the Arizona Diamondbacks, Chicago White Sox, Oakland Athletics, St. Louis Cardinals and San Francisco Giants. The Mets said the price of 80 percent of seats in season plans will be cut by at least 5 percent, including 57 percent that will be reduced by at least 10 percent. Thirty-five percent of seats will be lowered by at least 20 percent, including 18 percent that will drop by at least 30 percent. The biggest cuts are in the Ceasars Club and Promenade. All season-ticket holders will be given access to the Caesars Club, Acela Club and Promenade Club. In addition, the Champions Club, one level above field level, will become a members-only area where the ticket price includes food and nonalcoholic drinks -- much like the Legends Suite seats at new Yankee Stadium across town. The trustee trying to recover money for victims of the Bernard Madoff Ponzi scheme is seeking up to 386 million from the Mets' ownership group -- 83.3 million in fictitious profits and 301 million in principal.