Vikings new stadium got a lot of public money right?
But Wolves attendance has only gone up when they've got a good team.
In 2022, they averaged 16,028 or 84.5% of capacity. #21 in the league.
In 2023, they averaged 16,768 or 88.4% capacity for #27 in the league.
In 2024 so far, they've averaged 18,024. Doesn't say what percent of capacity but they're at #18 in the league for attendance in 35 games.
https://www.espn.com/nba/attendanceEven if they got a new arena, which would mean much higher prices, are they going to be able to get in the upper half of the league for home attendance?
According to this list, Minneapolis is #13 in market size in the NBA. Yet attendance-wise, they're well below smaller markets.
https://hoop-social.com/nba-team-market-size-rankings/For instance, Cavs are #8 in average attendance but only #18 in market size.
Miami is #4 in average attendance this season but only #17 in market size.
Other teams averaging greater attendance despite being in smaller markets include the Blazers, Jazz, Magic and Spurs.
Of course this doesn't tell the whole story of revenues. Maybe Wolves are killing it in local TV ratings so they are making more in total revenues, which would include things like jerseys and other merchandise.
Warriors are only averaging 18,064 in attendance at #15 in the league. But that is 100% of capacity at the Chase Center and they probably have one of the highest average ticket prices in the league, not to mention a modern arena with more luxury boxes and the ability to host a lot of concerts, which generate them a lot of non basketball revenues that they don't have to share with the league.
Suns are in a bigger market than the Wolves but not much bigger as they're #12 in market size. Their attendance sucks though at #25 in the league, just over 17k a game. Yet they commanded a $3 billion valuation?
But it's suppose to be a very attractive media market and players like the hot weather supposedly.
Can the Wolves attract more fans and fans willing to pay much higher prices for a new arena if they're able to sustain this winning team for a few more years?
Or maybe Minneapolis isn't as strong an NBA city as one hopes. I recall when KG signed his $100 million contract, an unimaginable figure at the time, there was a sports economist who said the Wolves had no choice, because if KG walked, the team might not be able to stay in the city, maybe either have to move or be dissolved.
Vikings are huge there but how do the Wolves compare for fan support and passion compared to the Wild or college sports? Vikings are facing some uncertainty and Wolves are having their best season in 20 years or maybe their best season ever.
Yet the support seems tepid.
The missing pieces on the team's economics would be average ticket prices, merchandising sales and local TV revenues. Minneapolis area is suppose have a high concentration of college-educated, high-income earners. But they obviously don't have the passion of Spurs fans, who obviously have more reasons to be loyal because of their titles.