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Wednesday, 15 January 2020 07:36

Research and Development in Philadelphia as the Knight Family Return

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Arnulfo Goodwin has sold the Philadelphia Americans back to the Knight family for an undisclosed amount. Goodwin bought the team from Jerry Knight back in 2018 and after more than eight seasons of ownership and around $250 million dollars in profit Goodwin handed back ownership to Jerry Knight's older brother David. It's understood the Knight family were angered at Jerry Knights flash sale of the Americans back in 2018 and have pursued re-owning the team for a number of years.

David Knight and GM Gibson got to work quickly in order to pave a new direction for the club both on and off the court. Rumors were flying the entire American team was on the verge of being traded out but a new direction for the team has been put in place.

Research and Development is the new way within the Philadelphia organisation and will play a leading role in every department of the ball club from here on out regardless of ownership.

The first results of this new strategy are already being implemented in the clubs finance department. After many hours of market research of the local community and the league itself the club has announced a hike in ticket prices for its wealthiest fans. 

Since 2017 club seats have been virtually sold out every night at The Garden but ticket prices have only been raised marginally in that time. The findings have prompted a $30 raise in club seats which if continue to sell out will increase revenue by $2.2 million dollars during the regular season. Fans can expect to pay $250 for a club seat at The Garden and a full review will occur next off-season.

Suites at The Garden will see the sharpest increase in price. If you want a suite expect to pay $4500 for one, an increase of $1500. The club has said in a statement that the suites have been modernized and upgraded during the off-season and the super rich occupants of these suites will enjoy an enhanced experience at ball games. The club is expecting to see a decline in suites sold but the price raise is expected to increase profits by more than $3.2 million dollars if just 75 suites are sold every home game.

The good news is the club is intending to leave the average attendance tickets at $59. This ticket price ensures that regular citizens and the average fan can enjoy an affordable night out and new fans should be enticed through the gates.

With this new strategy in place the club expects a ticket revenue in the vicinity $79,500,000 for the regular season alone. With a successful campaign and a deep playoff run the club hopes to break its ticket revenue record of $80,555,000 which it set in 2023.

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+1 #1 Ben Johnson 2020-01-15 15:07
Great PR. I love the bit of color about the Knight family buying the team back. Good stuff.
 

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