View Single Post
06-15-2013, 04:13 PM
Registered User
cbcwpg's Avatar
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 9,700
vCash: 500
Why the Blackhawks are losing (money)

Despite making a second Stanley Cup Final appearance in four seasons and obliterating television ratings records, the Chicago Blackhawks will need at least two more years before turning a profit, owner Rocky Wirtz says.

Even with higher ticket and sponsorship revenues this season, Crain's estimates the Blackhawks annually spend between $10 million and $20 million more than they take in

The team generates $20 million to $25 million annually from sponsorships, television rights fees, including those from Comcast SportsNet Chicago (of which Mr. Wirtz is a part owner) and assorted income such as merchandise sales. That doesn't cover a third of the $68 million cost of player salaries. The Blackhawks spend nearly $20 million on staff, coaches and payments to subsidize the league's 10 lowest revenue-generating franchises as required under the NHL's newly minted collective bargaining agreement. Thus the reliance on ticket revenue.

Before the Stanley Cup playoffs began, the team said it would raise prices on next year's season tickets, which account for about 75 percent of all tickets sold, by an average of 16 percent, translating to an overall average ticket price of more than $70.

If a team like the Hawks can't make a profit, what hope is there for the bottom teams?

cbcwpg is offline   Reply With Quote