Co. Loses $2.69M on Championships
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INDIANAPOLIS (AP) _ The World Basketball Championships were costly off the court, too.
Two weeks after the United States’ embarrassing sixth-place finish, the Indiana Sports Corporation reported an expected loss of $2.69 million on the tournament.
``We experienced a financial shortfall on the event, but we are optimistic about identifying ways to eliminate the deficit and we continue to be very upbeat about future events coming to this community,″ ISC president Dale Neuburger said Wednesday.
With USA Basketball president Tom Jernstedt acknowledging during the tournament that tickets were grossly overpriced, the event averaged just 6,414 fans for 31 sessions at Conseco Fieldhouse and the RCA Dome.
Ticket prices ranged from $10 to $58 for the first round, from $12 to $66 for the second round, from $24 to $110 for the quarterfinals, $65 to $135 for the semifinals and $95 to $190 for the gold medal game. Tickets for the title game were later discounted.
The United States won its first five games of the tournament to improve to 58-0 when using NBA players in international competitions, then lost three of its final four games to Argentina, Yugoslavia and Spain. The sixth-place finish is the worst ever by a U.S. men’s team in a major international competition.