With the 108-year monkey off their back, the Chicago Cubs are now poised to cash in on their World Series championship this year. Some estimates say the World Series revenue could measure in the billions.
Not surprisingly, ticket prices at Wrigley Field will increase for the 2017 season, reports Danny Ecker of ChicagoBusiness.com. The average ticket price will increase a whopping 19.5 percent next year. Ouch. Here's more from Ecker:
The team today began sending renewal invoices to season-ticket holders revealing an average price hike of 19.5 percent. That marks the second consecutive year that it has raised face value of its tickets by a double-digit percentage, and may give the Cubs the highest average ticket price in Major League Baseball next year.
The best seats in the house will get the biggest sticker shock. Club box infield tickets are going up by 31 percent, while season-tickets in the bleachers will jump a little more than 22 percent.
Some seating sections will increase in price by smaller proportions, including upper level infield tickets rising 6 percent, and other sections on the cheaper end going up 11 or 17 percent.
"It's not easy to raise prices," Cubs senior vice president of sales and marketing Colin Faulkner told Ecker. "But the demand for tickets has far exceeded our current pricing levels, and it's important for us to capture some of that demand, to invest it back into the team and into the ballpark."
"Demand" is the key word there. Ticket prices around the league are set by supply and demand. They're not tied to payroll -- that big free agent signing doesn't mean you'll have to pay more for a ticket -- or anything like that. Ticket prices are set at what people are willing to pay, and it seems lots of folks are willing to pay top dollar to see the Cubs go into 2017 as defending champs.