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Buffalo Sabres: Ticket Price Hike Needed Despite Terry Pegula's Wealth

10:50 PM, Apr 30, 2013   |    comments
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Buffalo, N.Y. - Below is the question and answer session between 2 On Your Side's Scott Brown and Sabres President Ted Black about the team increasing ticket prices by four percent next year.

Scott Brown: "The salary cap next year is dropping by six million dollars, you've missed the playoffs for the last two years, shouldn't you really be talking about decreasing ticket prices for fans?"

Ted Black: "The obligation to grow as a league still exists, it's not a written obligation but what we're trying to do is grow league revenues. Even with the four percent increase (in prices) we're still in the bottom quarter in terms of what our prices are. You could probably make an argument on a supply and demand basis that the ticket prices should be much, much higher because of demand."

Scott Brown: But you could make that same argument based on performance that they should be lower."

Ted Black: "Yes you could."

Black says basically this is about the Sabres being able to get revenue sharing money from the league under the new Collective Bargaining Agreement to increase their bottom line.

Scott Brown: "Two years ago when Mr. Pegula was here I asked him if this was about making money or winning and he said 'if I want to make more money I can drill another well.' He said 'I will lose money if necessary to bring a Stanley Cup here,' so why is there a need to raise prices?"

Ted Black: "I won't get into the mechanics of it, but I can assure you what Terry said is true. He is not operating this team to make money. In order to grow for revenue share you have to grow your revenues, it's just the way the CBA works. My obligation is to ensure that I do everything to preserve the value of this franchise for multiple owners and multiple team presidents long after I'm here."

Scott Brown: "I asked Mr. Pegula during the opening news conference, I said 'do you anticipate having this team for your lifetime' and he said 'I actually anticipate it going beyond my lifetime,' and he pointed to his children."

Ted Black: "And I hope that's the case."

Scott Brown: "So if that is the case and you've got an owner worth four billion dollars, why are you raising ticket prices?"

Ted Black: "We do have an owner that has an enormous wealth. Revenue sharing exists for a market just like Buffalo. I hope Terry owns the team forever. I hope the Pegula kids and grandkids own it forever and have the same desire and love for the city that Terry does."

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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