As reports continue to circulate that NBA Commissioner David Stern will cancel two more weeks of the upcoming NBA season due to the ongoing lockout, NBA fans and their non-player employees are growing more pessimistic by the day.
Stop any NBA fan on the street and ask them if they think there will be an NBA season, and I bet the majority will respond with a "no," a sentiment that is reflected in the number of tickets sold here at TicketNetwork.com. Since the lockout began on July 1, customers have purchased fewer than 10 percent of the number of NBA tickets that they did during the same date range in 2010*.
NBA fans’ pessimism is more clearly illustrated when you compare the sales during the lockout to those from the recent NFL lockout. While NFL ticket sales did suffer during their lockout, football fans seemed more confident the league wouldn't miss any action. Customers purchased nearly three times as many tickets as the NBA has sold thus far, despite the fact that NFL teams only have 8 home games each compared to the 41 home games played by NBA teams.
While ticket sales on the secondary market are based on demand (of which there clearly is none), the losses that are being experienced by the home arenas of the NBA teams are much more concrete. It is estimated that the NBA arenas would lose north of $1 billion in ticket revenue if the entire season is cancelled.
Of course, there is always a chance that the two sides settle their differences and have an abbreviated season, but the league and its owners will still lose a significant chunk of change. For every game that is cancelled, NBA owners lose an average of $1 million in revenue. For those who are keeping score at home, two weeks of the season have already been cancelled, 100 games in total, which equals $100 million in losses. If the league does decide to cancel another two weeks, it will then be a total of 202 games that have been ditched. I'll let you do the math.
The costs of the lockout have extended further than the turnstile. About 400 people who will never lace up sneakers or dunk a basketball have lost their jobs because of the players and owners bickering over who should get a bigger slice of the multi-billion dollar pie. But before you feel bad for these employees, remember that the players are losing about $350 million a month by not playing! How are THEY supposed to feed their families!?!
If the NBA lockout does end, you can head to our NBA ticket page and find tickets.
* Based on sales from TicketNetwork.com from 7/1 through 10/24 during the years 2010 and 2011.