Denver and Miami are projecting a maximum of $25 million in earned revenue from the 2023 NBA Finals, which includes expenses on hotels and rental cars, per the Denver Metro Chamber of Commerce.
Of course, the report excludes ticket sales and fan merchandise. The city’s economic competitiveness team is predicting that the NBA Finals will have an economic impact of $17-25 million for Metro Denver. This is a ballpark estimate.
“Based on analysis from our chief economist from the Denver Metro Chamber of Commerce, we are anticipating a direct economic impact to the region of up to $25 million and a total impact of four times that amount,” said J. J. Ament, president and CEO of the Denver Metro Chamber of Commerce.
Upon further review of a few NBA betting sites, the Nuggets are the favorites to win the 2023 NBA Finals over the Heat. Check out which sportsbooks are giving Nikola Jokic the best odds to win Finals MVP.
The games, both home and away, are expected to generate a total of $17 million to $25 million in direct economic benefits for the Denver area https://t.co/nLB1dt29sJ
— The Denver Post (@denverpost) June 1, 2023
According to TicketIQ, the average price of an NBA Finals ticket on the secondary market is $2,349, making it the fourth-most expensive Finals series since the ticket seller began tracking in 2010. The Nuggets averaged $184 per ticket during the regular season, the 12th cheapest in the league.
Heat prices were $230 per ticket in the regular season, making them the 14th-most expensive in the NBA. Nuggets home game tickets at Ball Arena will average $2,587 per ticket, whereas Miami home game tickets at Kaseya Center are expected to average $2,032.
Both Denver and Miami are projecting $25 million in revenue for the 2023 NBA Finals, $17-25 million for Metro Denver
Based on the World Population Review data, Colorado is the 17th-most expensive state to live in in 2023. Florida ranks 24th on the list. This matters to a number of NBA fans, especially due to inflation. While Florida does not have a state income tax, it has a higher median property tax rate (0.97%) than Colorado (0.6%).
Florida is one of the seven states (Alaska, Nevada, South Dakota, Tennessee, Texas, and Wyoming) with no income tax. Colorado is one of 13 states (Arizona, Idaho, Illinois, Indiana, Kentucky, Michigan, Mississippi, New Hampshire, North Carolina, Pennsylvania, Utah, and Washington) with a flat income tax.
— NBA Communications (@NBAPR) May 30, 2023
New Hampshire applies to interest and dividends income only. Washington applies to capital gains income of high earners. Anyways, Miami’s NBA ticket prices increased 5% from 2022. Meanwhile, Denver’s NBA ticket prices dropped 8% from 2022.
If it’s a regular-season game between two average teams, prices could drop just before the game. Games played on Mondays sell for the best value, according to a study by The New York Times.
The most-expensive Game 1 tickets in Denver for the 2023 NBA Finals are courtside seats, two of which are currently selling for at least $29,500 per ticket via Vivid Seats. The average cost for Finals courtside seats are $9,700 per ticket. After service fees, the total comes to about $12,000.
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Source: Basketball Insider