In the midst of a national financial crisis, the New York Mets are proving that if you are in baseball’s biggest market, you can still sell the most expensive seats in the house.
Dave Howard, VP of business operations for the Mets reported today that all suites in the new Citi Field slated to open next season, are sold out. Some suites at the new $800 million ballpark going for as much as $500,000.
(see high resolution computer renderings and a "fly-through" animation of Citi Field)
To add to that, fan interest remains high, regardless of the fact that the Mets have missed the playoffs on the last day of the season two years in a row. As reported by Bloomberg News:
Mets season-ticket holders also are renewing at “extremely high'' rates -- even with price increases -- for the team's first season at Citi Field next year, Howard said.
“We haven't seen the effects of the economic situation, but certainly we are mindful of the economy and especially in our community and market place,'' Howard said in an interview. ``We have a unique historical situation that maybe gives us a little bit of an advantage to withstand some of the challenges that the economy is presenting.''
The Mets have been on the verge of selling out the suites for some time, with the majority of the sales coming before the financial crisis that has rocked Wall Street. Still, the milestone outlines that in large markets where teams have good brand recognition, some clubs will clearly be less damaged by the current economic climate than others.