Los Angeles Dodgers File for Bankruptcy
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Things aren’t looking so good for the Los Angeles Dodgers, to say the least. Today, the team officially filed for bankruptcy after failing to reach a TV deal that owner Frank McCourt felt was necessary for the club’s survival.
McCourt had worked a deal out with Fox Sports that was reportedly worth close to $3 billion but MLB commissioner Bud Selig refused to approve the deal.
The Dodgers’ financial woes began last year due in large part to declining attendance. Currently, the team ranks 28th out of the 30 MLB teams with an average ticket price of only $31.64, ahead of the LA Angels and the lowly Kansas City Royals. In wake of this unfortunate news, we decided to take a look at our Dodgers ticket data to compare the past two years:
In June of last year, Dodgers ticket prices were averaging $43.11, which would place them in the middle of the pack this year for ticket prices. This year, however, prices have dropped over 30% and are going for only $30.07 on average. Between April and June, Dodgers tickets have been selling for close to $4 less than last season on average.
What might be most concerning for the Dodgers faithful is what happened to ticket prices last year after a Yankees-induced price spike in June — they steadily fell month by month until the end of the season:
Here’s to hoping that the Dodgers can find a way to secure that TV deal and ticket demand increases. We’ll keep you updated on this story as it develops.
Image credit to Flickr user reddawg31