Timberwolves' brand is hot, with historic revenue and ticket sales; More deals in the works [Yahoo! Finance]
![Yahoo! Finance](../../../Content/images/providers/Yahoo! Finance.png)
Vivid Seats Inc. (SEAT)
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Source: Yahoo! Finance
second appearance in the franchise's history — is showing up in the team's bank account. The team declined to provide specific revenue figures for this past season, but said it's total revenue reached a new high. The organization, whose value has risen 87% from $1.57 billion in 2021 to $2.9 billion, reached this thanks to a flurry of merchandise sales, more expensive regular and postseason tickets sales and sponsorship revenue during that time. And the Wolves expect to break those records during the upcoming season, said chief operating officer Ryan Tanke. Specifically, he said, they have a huge opportunity to land a new jersey patch sponsor after its three-year jersey patch deal with Aura, an identity protection company in Boston, expired at the end of the season. The value of NBA jersey patch deals have grown significantly since the league first approved them in 2017. Deals are now landing in the $5 million to $20 million per-year range, with an average of $10 million expected
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News
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- Vivid Seats Inc. (NASDAQ: SEAT) had its "buy" rating re-affirmed by analysts at DA Davidson. They now have a $7.00 price target on the stock.MarketBeat
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SEAT
Earnings
- 5/7/24 - Miss
SEAT
Sec Filings
- 6/20/24 - Form 8-K
- 6/13/24 - Form 4
- 6/13/24 - Form 4
- SEAT's page on the SEC website