MINNEAPOLIS - As the economy spirals downward and job security gets shakier by the day, the Minnesota Timberwolves have a risk-free offer on the table for season tickets next season: Lose your job and you're off the hook.
Team owner Glen Taylor called it "an insurance program" for those concerned about committing a large sum of money for tickets next season when some aren't sure they'll have a job next month.
The Timberwolves kicked off their "Early Bird" season-ticket marketing campaign this week with a new three-part plan that indicates they're keenly aware of the struggling economy and their own dwindling fan base.
"We think we're taking kind of a leadership role, especially in the sports area," Taylor said.
The plan calls for lowering prices on 95 per cent of season tickets in Target Centre and gives fans who buy season tickets between March 2 and July 1 even deeper discounts.
It also gives buyers the option of paying over nine months with zero per cent financing.
The overall price of the upper deck tickets will drop 44 per cent and seats in the lower bowl of the arena will be cut more than 11 per cent under the new plan.
Under the new pricing structure, 4,700 season tickets in the upper bowl can be purchased for $5 apiece, while 2,500 in the lower bowl are priced at $20 or less per game.
But the centrepiece of the package is the Timberwolves' "No-Risk Pledge."
Any season-ticket holder who loses their job in 2009 will be refunded the money for unused tickets.
"Our research tells us everybody is nervous about making long-term financial purchases," team president Chris Wright said. "We're trying to take away the risk."
In addition to owning the Timberwolves since 1995, a purchase that kept the team in the Twin Cities, Taylor owns myriad companies in Minnesota, including in the printing, retail, marketing and medical industries.
"This is the first time in my lifetime that I've had to lay off people," Taylor said. "And I can tell you that's way down in the chain of thoughts for me, to lay off people.
"We've had to do it because we've lost a lot of customers and chances to serve those customers.
"So after talking to the staff, they came up with some suggestions they heard our fans ask us to implement this next year."
The economic troubles have some forecasting a bleak future for professional sports as well. Ticket prices have skyrocketed in the last decade, making it more difficult for the average family to attend a game.
The NBA announced last October that it was eliminating about 80 jobs in the United States, or about 9 per cent of its domestic work force.
Taylor said Tuesday the Timberwolves will lose money this season, and probably next season as well.
Yet after trading Kevin Garnett in July 2007 and dumping several other unsavoury long-term contracts, the billionaire owner said the team is in good shape financially and he has no intention to sell.
"Without knowing the difficult economic times that are coming, we have positioned ourselves very well for that," said Taylor, who reiterated his hope that Kevin McHale will return as coach next season.
"By that I mean we have contracts coming off each year and we have the ability to go off and get free agents."
Late last month word came that the league had lined up an extra US$200 million to distribute to teams looking to offset costs.
Taylor said the team wouldn't need to tap into that money, but also said if they did need extra cash, he would go to a local bank rather than that pool.
Taylor said the ability to secure the line of credit was a testament to the league's relative strength, but he still was "very concerned" about what the future has in store for professional sports in this economic climate.
"I don't think pro sports is protected, that they don't have the possibility of getting hurt," he said.
Attendance has dropped noticeably at Target Centre in recent seasons, for more reasons than just the economy. The team has not made the playoffs since 2004 and went 22-60 in the first season without KG.
The Wolves got off to a horrendous start this season, leading to the firing of coach Randy Wittman in December.
McHale had the team playing very well in January, but a knee injury to star centre Al Jefferson has the Wolves (18-41) right back where they started as one of the worst teams in the league.
"Well we can sit around and complain and do those things," Taylor said. "That has never been my policy.
"I have been through enough ups and downs in my life and headed up so many businesses that when bad things happen, you've got to think up some good in it."