Mired in a miserable season with the NBA’s worst record and a roster of D-Leaguers, the Cavs are still making money hand over foot. Season ticket holders had to lock in by May 2010, way before LeBron’s decision, so the Cavs still have over 10,000 season ticket holders paying for a putrid product. They also have a lucrative TV contract with FSN Ohio that pays $25 million a year. (Incidentally, that’s worked out OK for FSN Ohio even with the horrible team — the Cavs’ local TV ratings are still top-ten in the league.)
But the big question is what happens next year? How many season ticket holders will the Cavs lose, even with a potential No. 1 pick coming to town?
CNBC interviewed Mark Klang, the self-proclaimed biggest season ticket holder for the team and a local ticket merchant, and his guess seems realistic.
This article appears in Feb 16-22, 2011.
i will say it is going to be more,but i am sure someone will hide that with buying ghost seats..