Drew White 1750 Danny Gamache Essay

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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.

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"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.

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