With the Wizards’ time in Capital One Arena supposed to come to an end, it would be best to limit the damage by keeping prices flat.
In this prediction for 2024, I will get into one side of the business around Washington Wizards game: ticket sales.
Prediction: The Wizards will not raise season ticket prices for the 2024-25 NBA season. Single-game tickets will more-or-less be about the same.
Why: If Ted Leonsis and Monumental Sports & Entertainment have their way, the Wizards will be on borrowed time at Capital One Arena. In 2028, they and the Washington Capitals NHL team will move to a state-of-the-art arena and campus in Alexandria, Va.
The D.C. government is not happy about the move, and neither are many fans. Since the Wizards are in a rebuilding year as well, the PR Gods are not on the Wizards’ side at the moment. So when season ticket renewal notices come out in February, the Wizards will likely announce that prices will remain the same for the 2024-25 season.
It doesn’t make sense for the Wizards to raise prices, considering that the on-court product sucks right now. But raising prices right as the Wizards are about to head out the door if they have their way? That’s not good business. For those reasons, I also see single-game tickets for the 2024-25 NBA season remaining about the same.
Why not: Ultimately, ticket prices aren’t just revenue for Monumental Sports. There are taxes and other municipal fees baked in those prices. Monumental Sports could keep their revenues flat, but the D.C. government could have some increased fees to fund the maintenance of the arena and increase security in light of rising violent crime like homicides, robberies and carjackings in the city, etc.
Do you think that retail ticket prices will remain the same for the 2024-25 NBA season? Let us know in the comments below.