IMO, Mike Ilitch shows you how to run an organization.
You spend money. You act like you're big market team, even when you're not. You eat the yearly losses when your team gets bounced early. You reap the reward of becoming a much loved local businessman...
And that allows you to buy the baseball team.
That allows you to get a sweetheart deal on funding the baseball stadium
That allows you the inside track on one of the few casino licenses.
That allows you a sweetheart deal on your hockey arena
Let's not forget where the Detroit Red Wings were when purchased by Ilitch.
Or you give your hockey club to competent hockey minds, making your team successful, turning it into the most successful franchise in hockey. And then your credibility goes up everywhere, in every fields to do a lot of things. It's pretty simple and it's weird that not more people think this way.
^ this. The salary cap is the best thing to ever happen to the NY Rangers (I'm a Ranger fan).
Same with the Kings. Had there not been cap restrictions on other teams, they never even get guys like Scuderi, Mitchell, or Gagne, much less have even a small chance at bigger names. Now Mitchell and Gagne were coming off of serious injuries, and Mitchell's kept him out until August before he signed with the Kings. But if money was no object, the Rangers or Leafs would sign those guys on the off chance that they might be able to play at some point.
The cap is a huge reason as to why the Kings won the Cup. Richards is never a King without a cap. Carter isn't either.