By Zachary Laubernds,
Money & Investing Writer
It’s the first week of November and to a lot of sports fans that means one thing; it’s World Series time. The 111th MLB World Series kicked off last Tuesday, seeing the American League’s Kansas City Royals take on the New York Mets of the National league.
These two teams have both experienced rather long championship droughts. The Royals last claimed a championship 30 years ago in 1985 and did not return to the playoffs until last season, making it all the way to the World Series before being defeated by the San Francisco Giants.
The Mets won their last championship the following season in 1986, and though they have returned to the playoffs 4 times since then (1988, 1999, 2000, and 2006) including a World Series appearance in 2000, they have fallen short of a championship.
The reemergence of these two teams from irrelevance has made this year’s World Series just a little more special, and expensive.
For game three on Friday night, the cheapest tickets available at Citi Field were for standing room only, and were priced at $800 each. That’s almost 700 percent more than the cheapest tickets available for the Mets’ last World Series appearance in 2000 which were priced around $110.
The question on many people’s minds is “why are these tickets so much more expensive now?” Some might suggest inflation, but accounting for inflation alone would only raise the ticket prices by about 40 percent.
So where is the other 660 percent coming from? Demand could be one reason; seeing as the 2000 World Series was played exclusively within the New York City limits.
The Mets played the Yankees that year, losing in 5 games. In those 5 games, divided 2 to 3 between the old Yankee Stadium with a capacity of 57,545 and Shea Stadium with a capacity of 57,333, there was a total capacity of 287,089 for the 2000 World Series.
That means up to 287,089 New York sports fans had the opportunity to attend those games.
This year there are only 2 guaranteed games in Citi Field, a stadium that holds 12,333 less fans than Shea Stadium did in 2000.
That means potentially only approximately 90,000 New York sports fans will get the chance to see this year’s World Series.
That’s approximately a 319 percent drop in supply.
According to the laws of supply and demand when supply is limited and demand stays static or increases, prices will rise. This year there was a large drop in supply of seats at the World Series, while at the same time the population of the New York Metropolitan area has stayed the same.
Back in 2000 there were roughly 20 million people living in the New York Metropolitan are and there were 287,089 seats available at the World Series. That means that approximately 14 out of every 1000 New Yorkers had the opportunity to see a World Series game.
This year there are still approximately 20 million people living in the New York Metropolitan area, but there are potentially only about 90,000 seats available for the World Series.
That means that only about four out of every 1000 New Yorkers will be able to see this year’s series. All of this of course is assuming the worst; that is that the Mets will only play two home games.
I, like many of you, hope this assumption is incorrect and that by the time you read this a third game will have been played at Citi Field, but if not these are some of the reasons that there are people willing to pay upwards of $17,000 for tickets to game 3 of the World Series.
A version of this article appeared in the Tuesday, November 3rd print edition.
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