The Knicks will substantially raise prices in season tickets for the 11-12 season, according to a source.

Combined with their expensive transformation of Madison Square Garden and being on the verge of their first playoff appearance since 2004, the Knicks will raise prices for the first time in six seasons.

The Knicks sold out of season tickets and created a wait list for the first time since 2001-02. More than 4,000 new season tickets were purchased for the season.