Knicks Sell Out Of Season Tickets

The New York Knicks didn't get LeBron.

But team officials did get something else: A season ticket sellout.

CNBC has learned that the Knicks have now started a waitlist after selling out its allotment of season tickets for this upcoming season. The last time the Knicks sold out its season tickets was for the 2001-02 season.

The team clearly benefited from the LeBron buzz, having sold more than 3,400 new season tickets before July 8, the night James made the announcement he was going to the Miami Heat.

Amar'e Stoudemire New York Knicks jersery
Amar'e Stoudemire New York Knicks jersery

But word of Amar’e Stoudemire’s signinga couple days earlier pushed the team over the 4,000 new season ticket mark and into a sellout, according to a Madison Square Garden spokesperson.

Despite missing the playoffs for the eighth time in nine seasons, MSG officials say the Knicks had a 90 percent season ticket renewal rate among those that already had tickets.

Those who reserved season tickets, which range from $25 to $3,000 per seat, per game, owed a 30 percent deposit by July 1. They’ll automatically be charged every month until the full amount is paid by the end of January.

The Knicks, like all teams, keep tickets for individual games, and the spokesperson would not reveal how many season tickets represent a sellout.

Although the Knicks have been disappointing, paid attendance at least hasn’t suffered significantly. In the last 10 years, the average attendance has never dipped below 97 percent of the Garden’s 19,763 per game capacity.

The MSG spokesperson said that the team will announce individual tickets and partial plans by mid-September.

The free agent buzz has not only helped the Knicks. The Nets, who didn't land a big free agent name, say they have sold more than 2,100 new season tickets, the team's best start ever. The Bulls, who sold more than 1,500 new season tickets in 48 hours when the LeBron rumor mill landed on them, have sold more than 5,000 new season tickets this offseason and a close to a sellout.