The Forbes estimates of NHL franchise values supports the game’s need for increased revenue sharing, a lynchpin of the Players’ Association’s vision for hockey’s future.
But it also vividly demonstrates why the owners have put such faith in Gary Bettman, now in his third destructive lockout. When he became the first NHL commissioner in 1993, replacing the last NHL president, Gil Stein, a franchise could be bought for some $40-50 million. Forbes says the average franchise is worth $282 million, and even the Islanders are worth $155 million.
The sale of the Blues at $130 million is regarded as a pittance.
Such an increase in value cements owner attitudes that will be tough for federal arbitrators to undo. The owners and the union resumed negotiations Wednesday with arbitrators on hand, a week after the union’s last offer was rejected, basically with ‘Thanks, but no thanks.’
The sides will be back at the negotiating table Thursday.
Forbes says the Rangers are the second-most valuable franchise, worth some $750 million, behind the $1 billion Maple Leafs. It claims the value of the franchise rose 48 percent mainly because of the revenue enhancements coming from the renovations to the Garden. It says the operating revenue for the Rangers, which it equates with profit, was $74 million last season.
The Devils are listed at No. 19 worth $205 million, but with debt at 112 percent of that figure, making $2.8 million last season, going to the finals. The Islanders are said to have lost $16 million.
Forbes says the Leafs, Rangers and Canadiens accounted for 83 percent of the league’s profits, and 13 of the 30 teams lost money last season.
***Rangers goalie Henrik Lundqvist’s mask was sold at auction for $66,000 to Ranger fan Molly Heines of New York, with the proceeds to benefitting victims of Hurricane Sandy. … Devils center Adam Henrique will miss 4-6 weeks with Albany when he undergoes surgical ligament repair on his left thumb today.