Surge in Blue Jays ticket sales financially justifies Troy Tulowitzki trade
The Toronto Blue Jays are one of the hottest baseball teams in the major leagues, and most of it can be attributed to the team’s trade-deadline acquisitions of Troy Tulowitzki and David Price. There was of course a significant financial risk inherent to bringing in superstars of their magnitude and the exorbitant salaries players of their caliber demand.
But according to a study by the Financial Post, the torrid winning pace the Blue Jays are on have drummed up a firestorm of energized interest in the team, which has translated to increased ticket sales and fans’ willingness to pony up more of their hard-earned cash at concession stands on merchandise, beer and otherwise.
The report notes that the Blue Jays were drawing an average of 28,700 fans prior to the Tulowitzki trade on July 28. It’s predicted now that Rogers Centre will be in sellout mode for the balance of home games during the regular season. According to Financial Post’s computations, that means 465,000 more fans will be attending Jays games the rest of the season.
With that in mind, sports marketing firm Team Marketing crunched the numbers and the profits play out as follows:
Overall, (Team Marketing) estimates that group of four would pay $270.43 for the whole trip to the ball game, just a few dollars over the MLB average.
That works out to $67.61 per person. Multiply that by 465,000 more bums in seats and you’ve got a whopping $31.4 million — more than triple the extra spending on salaries.
As SB Nation points out, the exchange for Jose Reyes for Troy Tulowitzki put the Blue Jays on the hook for an additional $48 million in salary obligations over the terms of those players’ contracts.
The monies alluded to in Financial Post’s article are of course in Canadian dollars, which are worth approximately 75% of the American dollar at this time. All that aside, the discrepancy between the respective dollar values and the amount of Canadian cash the Blue Jays are pulling in clearly makes the case that acquiring Tulowitzki was a wise investment.
Spending money … to make money … what a concept! Something other major league teams would do well to learn.
(image via New York Daily News)