There are some sports team owners out there who could really show the wealthy individuals gripping the public’s wallet a thing or two.

This week, Mat Ishbia, owner of the Phoenix Suns, became the latest figure to acknowledge just how inflated concession prices have become. He introduced a “value menu” featuring five items at only $2 each. Instead of needing to take out a loan just to buy snacks at a stadium, fans can now get sodas, hot dogs, and chips for a family of four at Suns games for under $25.

This announcement follows a similar initiative launched by the Smith Entertainment Group, who own the Utah Jazz and Utah Hockey Club, just a couple of months ago. They have now introduced five items priced at $3 or less, such as a bowl of Farr’s Ice Cream.

“Winning begins with our fans. Walking around the concourse, I see a lack of affordable options for families. That has to change,” Ishbia stated while unveiling the new pricing.

While Ishbia received much-deserved praise for this move, it’s important to note that both he and the owners from Utah are following the example set by Arthur Blank, who reduced concession prices when Mercedes-Benz Stadium opened in 2017.

At Mercedes-Benz Stadium, fans can enjoy a selection of chicken tenders, fries, popcorn, pretzels, hot dogs, nachos, a slice of pizza, and a soda — all for just $20, with the soda being refillable! If you’re in the mood for a beer, it’s just $5. These prices apply not only for Falcons and Atlanta United games but also for major events like the Super Bowl and concerts, ensuring everyone can afford refreshments.

It may seem strange for someone who profits from sales to volunteer for lower prices, but it has proven beneficial. In fact, Mercedes-Benz Stadium sells more in food and drink before games than the total sales experienced during an entire Atlanta Falcons game at the Georgia Dome.

Fans don’t mind spending more on branded merchandise like jerseys and hats since they don’t feel compelled to spend a fortune on food and drinks.

“In the end, the value exceeds the cost,” said Tim Zulawski, president of AMB Sports and Entertainment, which oversees the Falcons, Atlanta United, and Mercedes-Benz Stadium.

The reduction in concession prices may just be minor changes for billionaires like Blank, Ishbia, and Ryan Smith. It’s also worth noting that food and beverage sales aren’t a core revenue source, as most professional teams rely more on ticket sales, sponsorships, and media rights for their income.

However, that’s not really the main point.

Going to a game can be quite pricey these days. According to SportsCasting.com, the average ticket for an NBA game costs about $53, while an NFL game ticket averages nearly $132. Prices for food can vary but typically range from $5 to $10 per soda or hot dog.

When you multiply these costs by four (or even two), it’s easy to see why some fans reduce their spending on food altogether.

By recognizing this and taking even small steps to ease the financial burden on their fans, team owners help foster a sense of appreciation. Fans who feel valued are more likely to return for future games.

<p“People feel valued,” Zulawski emphasizes.

It helped that Blank and his team were able to make adjustments to Mercedes-Benz Stadium’s design before it opened, optimizing the placement of soda dispensers, for instance, to reduce the workload for concession staff.

Yet, there’s no reason other owners can’t also offer similar… concessions — especially since many of these facilities are funded and maintained with taxpayer dollars. If Ishbia and Smith can do it, then Jerry Jones, Stan Kroenke, and other owners certainly can as well.

“We encourage every organization to listen to its fans and look for ways to respond. If this involves food and beverages, and we facilitated any change, that’s a gratifying feeling to help enhance the fan experience globally,” Zulawski noted.

Team owners frequently rave about their fans and emphasize their importance. However, Blank, along with Ishbia and Smith, are taking action and truly putting their money where the fans’ needs are.