A billionaire NBA owner is receiving praise for no longer overcharging customers.
Anyone who’s attended a sporting event has likely witnessed massive price gouging on concessions. A Bookies.com study estimated that a family would spend an average of $320.31 to attend an NBA game if they purchased the four cheapest tickets, two beers, two sodas, four hot dogs, and a parking spot. Phoenix Suns owner Mat Ishbia announced a move to help reduce that cost.
On Wednesday, Ishbia revealed severely lowered prices on some concessions. A hot dog, bag of chips, popcorn, 16-ounce water bottle, and 16-ounce fountain soda will each cost $2. Those items all sold from $6.50 to $9.00 before Footprint Center’s new value menu, which Ishbia labeled “the most affordable, fan-friendly menu in the NBA.”
“Winning starts with our fans,” Ishbia wrote on social media. “When I walk the concourse at games there aren’t food options for families who don’t want to spend a lot of money. That needs to change, so today we’re rolling out our $2 value menu for all home
Suns
games.”
Fans applauded the price cut on social media. Hopefully some other teams will notice the positive response.
“Extremely great move,” Mike Vigil declared.
“It is super weird to see ownership of a pro sports franchise actually do things that benefits the fans,” Sean Thurmond wrote.
“An owner that understands there is actually value in goodwill from fans,” Justin Gaard said.
“Continuing my pledge to give + attention to every pro sports team that offers affordable concessions,” the New York Post‘s Ryan Glasspiegel said.
“This is how to run a sports team. Thank you
@Mishbia15
for reminding us all how important the fans are to a team’s success,” Brent Kleinman wrote.
Ishbia is taking a page from the Atlanta Falcons, who keep concession prices far below the other NFL stadiums by selling many items for $2 or $3.
The CEO of United Wholesale Mortgage noted that a family of four can now buy each person a hot dog, bottle of water, and popcorn for $24 instead of $98. With a $10.1 billion net worth, Ishbia can probably withstand the revenue hit.
“Our fans and community are the foundation of what we do,” Ishbia said, “and we will continue to invest in making this the best organization in all of basketball, on and off the court.”
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