Minnesota Timberwolves owner Glen Taylor held a press conference in the Target Center this afternoon to announce that, in light of the woeful economy and the team's (let's face it) mediocre performance as of late, the organization will be slashing season ticket prices next season.
"We don't know what will happen in the next year in this country [economically]," Taylor told reporters. "After talking to the staff, we've come up with a three-point plan that will provide reduced ticket pricing, new payment plan options, and job losses."
The organization is lowering the prices of 95 percent of available season tickets; the other five percent remain where they are. The average upper-level season ticket will be about 44 percent cheaper than this season. The slashed prices come as part of the "Early Bird" campaign, which runs through July 1.
The Wolves front office is also implementing a "No-Risk Pledge" to address (prospective) season ticket buyers' employment anxieties. "If a full Season Ticket Holder loses their job in 2009, the value of the unused tickets will be refunded," states the agreement.
Taylor said he had expected the franchise had to break even financially next season but, given the extent of the recession, will almost certainly remain in the red. On the plus side: the Wolves will have cleared enough salary cap room by 2010 to go after some big names ripe for free agency by that time. (Hey, we can dream, can't we?*)
*Not going to happen.