11/21/24
July 08, 2010
Part 4: Why not Toronto : The Toronto Maple Leafs charge the highest ticket prices in the NHL and generate the league’s greatest revenues. The franchise earned a $79-million (U.S.) profit during the 2008-09 season, according to Forbes magazine’s annual report on NHL finances, without making the playoffs and with a lower Canadian dollar value than during the past season. All the evidence suggests the Leafs could comfortably co-exist with another NHL franchise in the GTA, arguably without a dent to the bottom line. The NHL, however, seems uninterested in tapping that demand. Gary Bettman categorically denied reports that he has quietly calculated an expansion fee for a Toronto franchise, one that would fetch a whopping price. He claims a second GTA team is not on the NHL’s radar screen. “I have no idea,” he said, when asked in an interview for the Why Not Canada? series, whether the league has considered viability of a second Toronto team. “It’s not something we’ve looked at.”
posted by tommytrump to hockey at 07:42 AM - 9 comments
"I have no idea," he said, when asked in an interview for the Why Not Canada? series, whether the league has considered viability of a second Toronto team. "It's not something we've looked at."
Liar, liar, hockey pants on fire!
There is no way they haven't actively worked out every detail about a second team in Toronto. It's like a contingency plan that the NHL has ready at a moments notice.
posted by grum@work at 12:00 PM on July 08, 2010
Now if only they'd make it happen.
posted by Ying Yang Mafia at 12:40 PM on July 08, 2010
$80MM profit on $380MM in revenue. That's a ridiculous ROI year-over-year. No wonder pension boards and mutual funds want to own this bitch. I just want to cry.
posted by WeedyMcSmokey at 12:47 PM on July 08, 2010
Toronto vs. Glendale: In 2007-08, the Maple Leafs pulled in $1.9-million (all figures U.S.) a game in ticket sales that brought in $78-million for the year. The Coyotes, on the other end of the scale, averaged $450,000 a game for total ticket revenue of $18.4-million. And that was before the court battle between the NHL and former Coyotes owner Jerry Moyes damaged the fan base this past season.....The "$25-million [in annual Phoenix revenue] is about $150-million less than a second Toronto team would make," the former union executive said in comparing the lowest-revenue teams to projected revenues for a second team in the GTA. "As the [collective] agreement sits now, there's nothing in there that says the [NHL] has to keep a team in Phoenix.
posted by tommybiden at 01:03 PM on July 08, 2010
I'm completely behind this concept if only for the hope that the second team wins a Cup before the Leafs. The wailing and gnashing of teeth would be spectacular.
More seriously having only one hockey team in Toronto is one of the biggest gaps in the North American sport market. After no NFL in LA I'm struggling to think of another candidate for a franchise as ripe as Toronto/NHL. Vegas for the NBA, despite all the trouble?
posted by deflated at 02:57 PM on July 08, 2010
Of course if this does happen there will need to be a significant sweetener to Buffalo to make up for lost revenue in ticket sales to Ontario residents who can't get Leafs tickets, etc. Not sure how MLB bought off Angelos and the Orioles when they decided to drop the Expos into DC but some similar arrangement would be needed.
posted by deflated at 03:07 PM on July 08, 2010
More seriously having only one hockey team in Toronto is one of the biggest gaps in the North American sport market.
Off the top of my head:
2nd NHL team in Toronto
1st and 2nd NFL team in Los Angeles
3rd MLB team in New York (again)
1st MLB team in Mexico
1st NHL team in South-Western Ontario (Waterloo/London/Hamilton triangle)
posted by grum@work at 03:07 PM on July 08, 2010
1st NHL team in South-Western Ontario (Waterloo/London/Hamilton triangle)
Stick it in Windsor. Maybe they can force the Wings to lower their prices.
posted by Ying Yang Mafia at 04:35 PM on July 08, 2010
It's not surprising for Bettman to have no idea, it is surprising for him to admit it.