Much as I am on board with more Canadian hockey teams, I’m not convinced these halfanalyses. Here’s the point:

“A secret National Hockey League report detailing the ticket revenues of its 30 teams provides additional ammunition for those suggesting more struggling U.S.-based teams should be relocated to Canada.”

Then this paragraph invalidates much of the whole point:

Unlike other pro sports leagues such as the National Football League, which generates billions of dollars in revenue from huge TV and sponsorship contracts, the NHL is a so-called “gate-driven” league where ticket revenue accounts for close to half of the league’s total revenue.

WCI adds the effect of FX rates:

While there are other revenue streams other than gate revenue, it would appear that a new team in Canada could survive all but the most extreme of exchange rate fluctuations.

So we conclude everything from and analysis of half the revenue? Take any financial statement, cut out half the revenue and EVERYTHING else. Now pick a company to invest in.

Look, I’m not saying that it isn’t a good idea. I’m biased towards it, if anything. But this is sports writing, not financial journalism.

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