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Cliff Lee Signs 5-Year $100M Contract With Philadelphia Phillies

by Ben Kessler on December 14th, 2010 No Comments

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In a stunning move late last night, Cliff Lee proved that the New York Yankees can't just buy anyone to play in the Bronx. When the Cy Young Award winner announced he would not be signing with the Yankees, immediately analysts assumed he'd be staying with the Texas Rangers, a team that fought their way into the World Series for the first time this past season with Lee on the mound. But in line with the drama that has been this year's MLB Winter Meetings, Lee shocked everyone as word leaked that he had been offered a cool $100M, 5-year deal from the Philadelphia Phillies.

The move has people questioning why Lee would choose to take so much less money, with rumors placing the Yankees highest bid around $160M over 7 years. It was widely known that Cliff Lee was stunned and saddened when the Phillies traded him to the Seattle Mariners last year in a move to acquire Roy Halladay from the Toronto Blue Jays. Lee played quite possibly the best season of his career with the Phillies in 2008-09, and it seems that the World Series loss to the Yankees has left him hungry to return in search of a win. Plus, that subway ride to Yankees Stadium and the New York fan berating and spitting on his wife probably didn't help in his decision to drop the Yankees bid.

So how will Lee impact demand for the Phillies? Adding him to the Phillies' already impressive lineup of Roy Halladay, Cole Hamels, and Roy Oswalt will make for one of the strongest pitching squads in the entire MLB. Phillies fans have historically been extremely loyal, with the team selling out more games than any other at Citizens Bank Park last season. It's a bit early on to determine concrete data, but last week tickets for the Phillies home opener on April 1st, 2011 against the Houston Astros were averaging at $159 a ticket, while today prices have increased, averaging around $227.

We'll continue to track news and fan demand around Cliff Lee's move to the Phillies as Spring approaches. Let us know what you think about Cliff Lee's decision in the comments below or on Twitter @SeatGeek.

Washington Nationals Sign Jayson Werth

by Ben Kessler on December 8th, 2010 No Comments

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This week the Washington Nationals signed former Philadelphia Phillies right-fielder Jayson Werth. The team shocked fans and critics withthe terms they used to snag the top free agent: 7-years, at $126 million. The contract has easily become the most talked about move during this year's MLB Winter Meetings, with many questioning not only if Werth is worth the money, but if the Nats can even afford him in the first place.

New York Mets General Manager Sandy Alderson went on record saying:

"I thought they were trying to reduce the deficit in Washington."

As Werth's deal is driving up prices across the league, raising the bids for Carl Crawford, the question on everyones' minds is, what move will the Nationals make next? They'll need to beef up the rest of the roster with all star hitters alongside Strasburg to really receive a return on their investment. That also includes tickets, for a team that has shown desperation in both season and single ticket sales across the season.

Tickets to the Nationals are starting to show up on the secondary market, and the team is currently ranked #13 in our MLB Ticket Prices & Rankings with an average price of $31.49.

Will Jayson Werth help the Nationals recover from their 69-93 record in 2010, driving fan demand and ticket prices? Let us know what you think in the comments or on Twitter @SeatGeek.

Do No-Hitters Affect Ticket Prices?

by Jon on June 3rd, 2010 6 Comments

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Conventional wisdom states that baseball fans are a fickle bunch. It takes very little for a team to alienate a large fan base when losing, or conversely to capture the hearts and minds of a city when on a winning streak, and nothing captures the imagination of baseball fans like a no-hitter. There are few professions whose performance can be quantified as precisely as that of a major league baseball player, and in a game based on failure , (even the best hitters fail to get a hit 65-70% of the time) it is rare to see a player achieve absolute perfection. On that day, there is absolutely nothing the pitcher could have done better than he did. Perfect games and no hitters occur so rarely there have only been 20 perfect games in Major League history dating back to 1875. Because of the unique and exciting nature of no-hitters, they are often front-page news the following day, garnering a lot of attention from local and national media outlets alike. Here at SeatGeek, we looked over our data from the back-to-back-to-back no-hitters that have occurred over the course of the 2010 season, to determine whether the buzz generated by a no-no manifested itself in higher ticket prices for the following games, starts, or home starts for the pitcher.

The first of the three no-hitters occurred on April 17th 2010, and was thrown by Colorado Rockies hurler Ubaldo Jimenez, on the road against the Atlanta Braves. The average ticket price for that game was $32.69. Jimenez's next start was at Washington, and average ticket price was $42.96. His first home start following the no-hitter was against the Diamondbacks the following Monday, and tickets sold for an average of $33.98. The average ticket price for a Colorado Rockies game in the week following Ubaldo's no-hitter was $47.67, as opposed to an average price of $51.77 for a 2010 Rockies ticket sold March 1st through June 3rd 2010.

From looking at this data it does not appear that pitching a no-hitter increases interest in a pitcher's subsequent start, or interest in the team for the week following the perfect game. However let us now take a look at the two perfect games thrown in 2010.

On May 9th 2010 Oakland youngster Dallas Braden took the hill and promptly sent 27 straight Tampa Bay Rays back to the dugout hit-less for the first perfect game in 2010, and the 19th in Major League history.

Disregarding the price of a ticket to the no-hitter, (because no fan knows when purchasing a ticket that a no-no will be pitched) it appears that tickets for Braden's following start, (a Friday night game in Anaheim) and his next home start, (Wednesday May 19th vs. Detroit) both traded for a lower price ($38.26 & $40.72 respectively) than the average price for an A's game this season through June 3rd ($55.47). Similar to the Jimenez case, Braden's perfect game did not radically alter A's ticket prices in the subsequent week.

Now onto Roy Halladay's perfect game, thrown last Friday night May 28th against the Florida Marlins in Miami.

(A few notes regarding the Halladay's data set. He is next slated to start at home Friday night June 4th against the San Diego Padres. The game has yet to take place, so the average price for a ticket sold for that game may still fluctuate. Additionally, as a week has not yet passed since Halladay's perfect game, the data in that column only consists of 6 days of Phillies ticket sales, up through June 3rd.)

Analyzing these figures in conjunction with our data from the previous no-hitters, we can draw some interesting conclusions.

1. Phillies tickets, on average, have traded at substantially higher prices than either Rockies, or A's tickets so far during the 2010 season. This is not surprising due to the Phillies' large, baseball-crazed market, roster full of big-name players, and recent success, having reached the World Series the past two seasons.

2. Despite the significant media buzz that inevitably surrounds the throwing of a no-hitter or perfect game, there appears to be very little correlation between no-hit performances and immediate fluctuations in ticket prices. This is not to say that no-hitters are completely irrelevant in the determination of subsequent ticket prices, only that more mundane factors such as day of the week, weather forecasts, time of day, and opposing teams matter much more than a pitching performance for the ages.Do No-Hitters Affect Ticket Prices?

5 Useful Charts for Baseball Fans: MLB Ticket Prices by Day / Time

by Chad Burgess on May 24th, 2010 3 Comments

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This is the latest installment of SeatGeek's TicketBeat Reports

SeatGeek TicketBeat™

Summary:

In our latest installment of sports and concert ticket reports, we analyzed customer sentiment data concerning 'day of the week 'and 'time of day' variables and their impact on MLB ticket prices. Our goal was to quantify the most popular MLB time slots as determined by the purchasing behavior of the fans. We crunched the numbers on resale ticket prices from our unique database and cut the data a few different ways. Read below for a full set of charts, analyses, conclusions, and recommendations on buying baseball tickets.

Charts: (Note: weekends are Friday - Sunday and night games are any game after 5:00 PM)

Ticket Prices and Day of the Week

mlb ticket prices by day of week


Above we examined the average ticket prices per game for each day of the week. Looking at the chart from Monday-Sunday, you can see the ebb and flow of baseball game attendance. Fans are more willing to pay for weekend games, but this drops off heavily moving into the work week.

mlb ticket prices by weekend dayIt is fairly obvious that the weekend would be the most popular time due to the larger base of people available to attend games. To look beyond this we have isolated weekend prices from weekday prices. Saturday really jumps out as the day people attend baseball games with ticket volume representing 25% of all weekly activity and double the daily average. Corresponding to this volume, Saturday ticket prices jump up over 11% and 13% compared to Friday and Sunday tickets respectively, and a staggering 45% compared to Wednesday games (see the chart above). Note: In the aggregate day/time chart at the bottom of this report, Sunday night is the most expensive due to "Sunday Night Baseball" which represents only 10% of Sunday ticket volume.

MLB ticket prices by weekday

Notes on 'Day of the Week' Analysis:

  • Not surprisingly, average ticket prices rise towards the end of the week, peaking during the weekend
  • There is a  "Monday hangover" where prices stay high following the weekend ticket spike
  • After Monday, MLB ticket prices drop sharply, hitting a trough on Wednesday as people settle into the work week

Ticket Prices and Time of Day

mlb night ticket v day ticket prices

Above, we looked at the impact of night games versus day games to see if there was a consumer bias in either direction. We discovered that night/day price difference varies significantly and there are a few key takeaways.

On weekdays, the general trend favors night games. This is pretty intuitive considering that a lot of fans work day jobs. Within the set of weekday data points, Tuesday is significantly higher than the others. This is driven by an extremely low average ticket price for day games on Tuesday - Tuesday day games are ~10% of the volume. Although speculative, it is interesting to think of this in relation to studies which show Tuesday to be the most productive day of the week.

Sunday also has a high variation between day and night prices, which will be explained in the next section of this report. There is an intriguing inflection point on Friday and Saturday, where fan sentiment favors day tickets over night tickets.  One might assume that fans would make a night of going to the ballpark on the weekend, however, this data suggests that they would rather pay premiums for a day game and leave the rest of their night free for other activities.

Note: some of the Friday variation is due to a low volume of Friday day games - Saturday, though, is very evenly mixed between day and night volume.

mlb ticket prices by time and day

Note: Sunday night is only ~10% of total Sunday volume and Tuesday day games are even less of the total Tuesday mix.

This chart clearly indicates how far behind Tuesday days are compared to other time/day slots. The second lowest average ticket price is still a 41% increase over Tuesday day games. Sunday night is the highest overall time slot driven by the popular 'Sunday Night Baseball' game which is marketed by Major League Baseball as the "game of the week".

If you are interested in being a part of Sunday Night Baseball, you can check out the 2010 Sunday Night Baseball schedule and search for baseball tickets at SeatGeek such as the upcoming July 11, 2010 Chicago Cubs at L.A. Dodgers game of the week.

Ticking Buying Conclusions and Suggestions:

  • If you are looking for the best value tickets, focus your search on day games at the beginning of the work week (excluding the "Monday hangover" effect
  • Overall, the best value tickets can be found on Wednesdays
  • If you are time agnostic, focus your search on Tuesday/Wednesday day games for the absolute lowest prices
  • It is becoming hard for families to afford a MLB outing - if this is you, focus your search on early/mid-week day games
  • If you are looking for an electric atmosphere, focus on Friday, Saturday, and Sunday games
  • If you love night games, Saturday night tickets offer the largest "discount" compared to their respective day game tickets
  • Most 9-5ers focus on going to weekend games - if this is you, your path for the best value is to purchase night tickets

That concludes our analysis of MLB ticket price fluctuations by day of the week and time of day.  If you have any suggestions for future reports or comments on this report, please share them below and we will get back to you.

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