Though owner Steve Bisciotti noticed empty seats during a season in which his team missed the playoffs for the third time in four years, the Ravens are considering raising ticket prices at M&T Bank Stadium for the 2017 campaign.

A final announcement is not expected until later this month or in early February, but a price increase would mark the first hike since the organization raised prices after it won the Super Bowl to cap the 2012 season. Team president Dick Cass pointed out that a price increase has occurred just once in the last eight years.

“Also since we last raised prices, we’ve spent about $45 million improving the stadium and over the next 2½ years, we’re going to spend an additional $120 million, and that will include putting in some escalators and elevators to the top level, which will make a lot of our PSL holders up there happy,” he said during the franchise’s annual season review at its training facility in Owings Mills. “So we’re seriously considering a price increase.”

The average ticket for a Ravens game in 2016 was $112.11, which – according to the Team Marketing Report – is the seventh most expensive in the NFL.

Despite weekly sellouts, Ravens fan attendance lagged this season. Fans of the Oakland Raiders and Washington Redskins were a visible presence at games on Oct. 2 and 9, respectively, and when the Philadelphia Eagles visited on Dec. 18, quite a few seats were empty.