Heat Rises, So Do Ticket Prices
MIAMI (CBS4) – Everyone knows that heat rises, and with that so will ticket prices for Miami Heat fans.
The Miami Heat announced Sunday that season-ticket prices for the 2011-12 season are going up, but will have some allowances built into pricing plans if there's a work stoppage this summer.
The announcement says the price increase will be "minor," without specifying further.
There are options on how to pay for the increase. One of them is for current season-ticket holders that would allow the team to keep money for 2011-12 plans in accounts if next season is affected by the expiration of the current collective bargaining agreement.
Under the terms of that plan, season-ticket holders would receive a 5 percent "loyalty payment" refund monthly if any preseason or regular-season games are missed.
"Heat season ticket holders indicated that discounts on playoff tickets and interest payments on any future un-played games were the two most important renewal drivers this year," said Eric Woolworth, Heat president of business operations. "And so we crafted our renewal campaign accordingly."
The deal between the league's players and owners expires July 1.
"If any preseason or regular-season games are missed during the 2011-12 season or the entire season is canceled, season ticket holders selecting this renewal option will receive a refund plus a small interest payment ... on a monthly basis in arrears for all games missed," said a statement issued on behalf of the Heat.
Those who renew ticket plans with the Heat may be eligible for discounts throughout this season's playoffs. Ticket holders can choose whether they want to participate in the loyalty plan, although those who opt out will pay higher prices for playoff seats this season.
Last season the Heat offered season-ticket holders the chance to lock in prices for 2010-11 at lower rates, noting that last summer's free-agent bonanza -- which netted Miami stars such as LeBron James and Chris Bosh, plus saw the team keep Dwyane Wade -- would lead to increases.
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