Drew White 1750 Danny Gamache Essay

Excerpt from Essay :

There are rumors, the Forbes report goes on, "that the owners are looking to sell the team, which has sizeable debt and has had a hard time attracting season ticket holders" (Forbes).

Another struggling franchise mentioned often in analysis as a financial loser is the Atlanta Thrashers. Forbes reports the team lost 10% of its value in the 2008-09 season and is now worth $143 million. Local revenue per fan is $10 and the Thrashers' debt is 46% of its total value; player salaries were $39 million and gate receipts were $23 last season. "A nasty and continuous legal battle amongst the eight owners…has resulted in the team turning to Goldman Sachs for investors"

(Forbes). Although the Thrashers are not in the so-called Sun Belt, Atlanta is not known for ice, snow, and cold, like the more traditional hockey venues experience.

The financial struggles of some teams today is not something new, according to Wisconsin attorney Michael Baird's research in 2005. Over the past 10 years, four NHL teams have gone into bankruptcy. "The NHL's experience with four team bankruptcies is more than that of any other professional sports league"

(Baird, 2005). Baird's research of course does not include the bankrupt Phoenix Coyotes. Baird's review is of course a few years old, but his point that the NHL is the only major sports league without a salary cap is just as germane today as it was four years ago. Without a salary cap, teams that don't have huge gate receipts or big TV contracts have to sign expensive players in order to be competitive, and those higher salaries sap the juice out of potential profits. But the bottom line is the NHL should shed itself of two or three of the worst-achieving franchises, beginning with Phoenix.

Works Cited

Badenhausen, Kurt, Ozanian, Michael K., and Settimi, Christina. (2009). "NHL Team Valuations: The Business of Hockey." Forbes Magazine. Retrieved Dec. 1, 2009, from http://www.forbes.com.

Baird, Michael (2005). "NHL Finances: Skating On Thin Ice." Sports Facility Reports. Retrieved Nov. 30, 2009, from http://www.law.marquette.edu/s3/site/images/sports/facilityarticlelled.pdf.

Forbes (2009). "NHL Team Valuations: #18 Tampa Bay Lightning." Retrieved Dec. 2, 2009 from http://www.forbes.com.

Forbes (2009). "NHL Team Valuations: #21 Carolina Hurricanes." Retrieved Dec. 2, 2009, from http://www.forbes.com.

Forbes (2009). "NHL Team Valuations: #27 Nashville Predators." Retrieved Dec. 1, 2009, from http://www.forbes.com.

Forbes (2009). "NHL Team Valuations: #29 Atlanta Thrashers." Retrieved Dec. 1, 2009, from http://www.forbes.com.

Forbes (2009). "NHL Team Valuations: #30 Phoenix Coyotes." Retrieved Dec. 1, 2009, from http://www.forbes.com.

Klein, Jeff Z. (2009). "Matters of Finance and Safety Unsettled as Season Begins." The New York Times. Retrieved Dec. 1, 2009, from http://www.nytimes.com.

Street & Smith's SportsBusiness Daily. (2009). "Buffalo Among Six NHL Markets Facing Financial Barriers." Retrieved Dec. 1, 2009, from http://www.sportsbusinessdaily.com.

Thomas, G. Scott. (2009). "Rechtshaffen Study: NHL Needs to Contract." Buffalo Business First. Retrieved Nov. 30, 2009, from http://buffalo.bizjournals.com.

K. Badenhausen, M. Ozanian and C. Settimi (2009), The Business of Hockey, Forbes.

Street & Smith's SportsBusiness Daily (2009) http://www.sportsbusinessdaily.com.

G. Scott Thomas (2009), Rechtshaffen Study: "NHL needs to contract." Buffalo Business First, Retrieved Dec. 1, 2009, from http://buffalo.bizjournals.com.

J.Z. Klein (2009). Matters of Finance and Safety Unsettled as Season Begins. The New York Times.

Forbes (2009), NHL Team Valuations #30 Phoenix Coyotes. Retrieved Dec. 1, 2009, from http://www.forbes.com.

Forbes (2009), NHL Team Valuations #21 Carolina Hurricanes. Retrieved Dec. 2, 2009, from http://www.forbes.com.

Forbes (2009). NHL Team…

Sources Used in Document:

Works Cited

Badenhausen, Kurt, Ozanian, Michael K., and Settimi, Christina. (2009). "NHL Team Valuations: The Business of Hockey." Forbes Magazine. Retrieved Dec. 1, 2009, from http://www.forbes.com.

Baird, Michael (2005). "NHL Finances: Skating On Thin Ice." Sports Facility Reports. Retrieved Nov. 30, 2009, from http://www.law.marquette.edu/s3/site/images/sports/facilityarticlelled.pdf.

Forbes (2009). "NHL Team Valuations: #18 Tampa Bay Lightning." Retrieved Dec. 2, 2009 from http://www.forbes.com.

Forbes (2009). "NHL Team Valuations: #21 Carolina Hurricanes." Retrieved Dec. 2, 2009, from http://www.forbes.com.

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