TAMPA, Fla. — The NCAA is projected to lose $12 million in basketball tournament ticket sales at Amalie Arena amid the COVID-19 coronavirus pandemic, according to a ticket search engine website.
TicketIQ determined the multi-million dollar estimate following last week's cancellation of the NCAA Division I Men's Basketball Tournament by calculating the average price of each ticket, multiplied by the capacity of the arena and multiplied further by how many games were postponed.
It says the NCAA at Amalie Arena, which was set to host the tournament's First and Second Rounds on March 19 and 21, will lose $11,746,500.
TicketIQ estimated the average secondary market value for a ticket at $191. With three games and a capacity of 20,500 people at Amalie Arena, the figure nears the $12-million mark in ticket sales.
Tournament ticket sales go to the NCAA and not the venue, however, Tampa Bay undoubtedly loses out on tourism revenue.
The company also figured the loss from seven postponed Tampa Bay Lightning games at $17.6 million, finding average prices for a ticket at $137 with a capacity of 19,092 people.
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