NBA team lets fired ticket-holders off the hook
The Minnesota Timberwolves announced that they are slashing 95% of season tickets. Here's what's interesting about it: The most expensive tickets will see their prices slashed by 44% compared with a drop of just 11% for less-expensive tickets. Could it be that corporate clients are cutting back on luxury suites but the true, die-hard NBA fans are finding a way to hold on?
The most interesting element of this plan channels Hyundai's promotion that lets you return your car if you get laid off: Any unused season tickets can be returned for a refund if the ticket holder gets laid off.
Of course, one motivating factor behind the team's decision to cut prices could be shrinking demand because of the Timberwolves' inability to win basketball games. The team currently has 18 wins and 42 losses, trailing the division-leading Denver Nuggets by 20.5 games.