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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

Vegas has more ticket revenue than most teams.

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Old
07-17-2017, 11:35 AM
  #1
Llama19
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Vegas has more ticket revenue than most teams.

In an interview with Forbes, Foley said the Golden Knights are “number five, six or seven in terms of ticket revenue in the league,” adding that they’re ahead of the Boston Bruins, Philadelphia Flyers and the two-time defending Stanley Cup champion Pittsburgh Penguins.

“Edmonton has more revenue in their brand-new arena,” Foley explained. “The Rangers, Toronto, Chicago Blackhawks, they’re all ahead of us. Montreal is right with us.

“We have more revenue than the Flyers, Penguins, the Boston Bruins. Most of our tickets are multi-year. The lower bowl is three to ten years.”

Source: http://nhl.nbcsports.com/2017/07/17/...nd-pittsburgh/

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07-17-2017, 11:46 AM
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King_Stannis
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Good for them. I think Vegas will prove a lot of folks wrong and in the end be a successful nontraditional franchise ala Nashville.

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07-17-2017, 11:49 AM
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That's certainly impressive if true.

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07-17-2017, 11:51 AM
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The ticket revenue jump is to be expected from an expansion franchise. It's all about maintaining that first season momentum.

Also, did Bill Foley refer to himself in the 3rd person?

Quote:
“When I hired George McPhee as general manager, he asked me, ‘Will you spend to the cap?’ I told him ‘Bill Foley wants to win, and he’s going to win. There is no budget.’”

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07-17-2017, 12:39 PM
  #5
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The actual Forbes story also confirms my suspicion that the average ticket price did creep up during the ticket drive. They were supposed to be pegged to league average during the drive, and wound up settling at $88 after all the deposits converted, league average is in the $70s.

Also confirms that Foley owns 15% of T-Mobile Arena, something that I'd heard a year or so ago, but never really got confirmed.

Quote:
“I’m a 15 percent owner of the stadium. Privately financed. Loans from B of A. About 60 percent loan and 40 percent equity. My partners are MGM Mirage and AEG [Anschutz Entertainment Group]. AEG handles selling the suites. MGM manages the arena. We’re a tenant. But we are also minority owners. I am a 70 percent owner of the team. Dictatorship…benevolent. I don’t have a board of directors. I am the only member of the board.” His partners in team ownership are the Maloof brothers, who until 2013 owned the Sacramento Kings.

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07-17-2017, 12:50 PM
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I will be in Vegas for home game #3 and looking forward to it.

Appears we are staying at the Wynn Las Vegas as they have signed on as a major Bruins sponsor to promote the new 2.5 Billion dollar resort they are building 3 miles from TD Garden in Boston.

http://www.wynnbostonharbor.com/

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07-17-2017, 12:57 PM
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Quote:
Originally Posted by Fenway View Post
I will be in Vegas for home game #3 and looking forward to it.

Appears we are staying at the Wynn Las Vegas as they have signed on as a major Bruins sponsor to promote the new 2.5 Billion dollar resort they are building 3 miles from TD Garden in Boston.

http://www.wynnbostonharbor.com/
Wynn Vegas is the home for many awards ceremonies, too, including , but not limited to, the NHL Awards, as an example.

Wynn Boston is the one that some suburbs (Somerville) FOUGHT against when Suffolk Downs was potentially being redeveloped....

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07-17-2017, 01:09 PM
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Originally Posted by CHRDANHUTCH View Post
Wynn Vegas is the home for many awards ceremonies, too, including , but not limited to, the NHL Awards, as an example.

Wynn Boston is the one that some suburbs (Somerville) FOUGHT against when Suffolk Downs was potentially being redeveloped....
I can see the casino starting to rise from my Cambridge apartment. I have no idea how they are going to sell Everett as a destination resort but Wynn is betting 2 1/2 BILLION that it will work.

http://www.wynnbostonharbor.com/

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07-17-2017, 01:41 PM
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Mightygoose
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I figured they would be top have easily just based on the number of season ticket holders they have.

Still find it surprising that they would be ahead of teams like the Flyers or Pens just based in capacity.

How do Knight's payment plans work on seasons more specifically on the multi year terms and I wonder how that compares to the Flyers, Pens etc...as mentioned?

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07-17-2017, 01:49 PM
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Quote:
Originally Posted by Fenway View Post
I can see the casino starting to rise from my Cambridge apartment. I have no idea how they are going to sell Everett as a destination resort but Wynn is betting 2 1/2 BILLION that it will work.

http://www.wynnbostonharbor.com/
Huh.... So..... Fenway (and look at his vCash ttal people)..... are you even allowed in Casino's given that your obviously a total pro with a knack for breaking the house? I know if I was Floor Manager, spotted you on the CCV, eye in the sky... you'd be Barred.

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07-17-2017, 01:53 PM
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Quote:
Originally Posted by Mightygoose View Post
I figured they would be top have easily just based on the number of season ticket holders they have.

Still find it surprising that they would be ahead of teams like the Flyers or Pens just based in capacity.

How do Knight's payment plans work on seasons more specifically on the multi year terms and I wonder how that compares to the Flyers, Pens etc...as mentioned?
Season ticket folks can pay for the year in advance, or have interest free payment plans of (I think) four payments or nine payments.

What I think happened is they pegged the ticket prices at league average for the ticket drive like they were directed to by the league. Then, when it came time to turn deposits into actual season ticket holders, they made the majority of the seats within a section's price range toward the top end of the range specified during the ticket drive. That would give them already higher than average ticket prices, potentially Top 10 in the league. I know I was expecting $45/game in my seat based on the ticket drive price ranges and wound up at $55 for a middle of the road type of seat in the section. Essentially, I'm paying for a decent seat when I thought $55 would get me a much better seat. Single gamers will cost even more, obviously. I'm guessing middle of the way up in the upper level tickets like mine will face out $70-$75, which is apparently league average for all tickets.

I'm also guessing that the luxury suites are higher priced than most other arenas because it's such a hospitality based industry here in Las Vegas and that would have a major impact on revenues for the Knights as well.

We'll see what happens when STH start falling off, but given the demand situation that's being set up for the first 3-5 years, I don't foresee prices going down.

Ticket scarcity is a good tool to keep prices/demand up, even if the team is weak on the ice. At least for a while.

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07-17-2017, 05:46 PM
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I am the only member of the board.” His partners in team ownership are the Maloof brothers.
One heartbeat away from the the Maloof circus owning a NHL team...

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07-17-2017, 05:50 PM
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Originally Posted by madhi19 View Post
One heartbeat away from the the Maloof circus owning a NHL team...
From what I've heard, the succession plan keeps the Foley family in control.

Apparently he's got a few kids.

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07-17-2017, 06:06 PM
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Originally Posted by Llama19 View Post
In an interview with Forbes, Foley said the Golden Knights are “number five, six or seven in terms of ticket revenue in the league,” adding that they’re ahead of the Boston Bruins, Philadelphia Flyers and the two-time defending Stanley Cup champion Pittsburgh Penguins.

“Edmonton has more revenue in their brand-new arena,” Foley explained. “The Rangers, Toronto, Chicago Blackhawks, they’re all ahead of us. Montreal is right with us
I dont believe the part about Montreal at all, Foley has 4000 less seats than them, he still has season tickets for sale https://www.nhl.com/goldenknights/tickets/full-season while Montreal has a waiting list going on for years

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07-17-2017, 08:54 PM
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Yea, yea, yea. Let's talk about it when the "shiny new toy" effect has worn off in a few years.

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07-17-2017, 09:05 PM
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Originally Posted by King_Stannis View Post
Good for them. I think Vegas will prove a lot of folks wrong and in the end be a successful nontraditional franchise ala Nashville.
I think they'll end up closer to Carolina than Nashville in a couple of years.

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07-17-2017, 09:23 PM
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I think they'll end up closer to Carolina than Nashville in a couple of years.
Everyone forgets the 'Canes attendance was fine until 2-3 seasons ago and Nashville wasn't filling the place until they started consistently winning...

Don't get me wrong, I love what Nashville has done, but the 'Canes have never been a consistent winner that gets fans excited enough to constantly pack the arena. Not really a fair comparison.

I really do not like how short some folks' memories are when it comes to judging the inherent worth of a franchise, but I guess that's life.


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07-17-2017, 11:56 PM
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Can't see that lasting long but good for them.

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07-18-2017, 12:52 AM
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Originally Posted by BattleBorn View Post
From what I've heard, the succession plan keeps the Foley family in control.

Apparently he's got a few kids.
The Maloofs only had a very small proportion of the ownership didn't they??

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07-18-2017, 08:12 AM
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That's awesome that they've sold tickets, but will any butts show up to their seats? (I'm sure many casinos have purchased to give out as rewards to customers but that doesn't mean they'll go if given the tickets)

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07-18-2017, 08:21 AM
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Quote:
Originally Posted by EQV View Post
Everyone forgets the 'Canes attendance was fine until 2-3 seasons ago and Nashville wasn't filling the place until they started consistently winning...

Don't get me wrong, I love what Nashville has done, but the 'Canes have never been a consistent winner that gets fans excited enough to constantly pack the arena. Not really a fair comparison.

I really do not like how short some folks' memories are when it comes to judging the inherent worth of a franchise, but I guess that's life.
Indeed, winning solves a lot of issues.

See: Chicago, Pittsburgh, Nashville.

That said, I wouldn't say that Carolina has "never" been a consistent winner. They won the Cup after all which should get fans excited enough to pack the arena for a season or two.

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07-18-2017, 08:25 AM
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Quote:
Originally Posted by Mightygoose View Post
I figured they would be top have easily just based on the number of season ticket holders they have.

Still find it surprising that they would be ahead of teams like the Flyers or Pens just based in capacity.

How do Knight's payment plans work on seasons more specifically on the multi year terms and I wonder how that compares to the Flyers, Pens etc...as mentioned?
The only way would be the boxes and what they charged the Casinos. Its not from locals becoming STHs.

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07-18-2017, 09:44 AM
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Quote:
Originally Posted by TheLegend View Post
The Maloofs only had a very small proportion of the ownership didn't they??
Maloofs have 15%, and it looks like he sold another 15% since this all started.

Quote:
Originally Posted by Ekblast View Post
That's awesome that they've sold tickets, but will any butts show up to their seats? (I'm sure many casinos have purchased to give out as rewards to customers but that doesn't mean they'll go if given the tickets)
Season ticket holders are locals. Well, at least 13,000 of them are.

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07-18-2017, 01:00 PM
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Originally Posted by Crede777 View Post
Indeed, winning solves a lot of issues.

See: Chicago, Pittsburgh, Nashville.

That said, I wouldn't say that Carolina has "never" been a consistent winner. They won the Cup after all which should get fans excited enough to pack the arena for a season or two.
The Cup win was awesome, but let's be real here.

The 'Canes have been around since 1997.

We've made the playoffs 5 times.

That is NOT consistently winning.

And as far as your point about packing the arena, attendance did not really start to suffer severely until the 2014-15 season, NINE years after the Cup win.

So I stand by what I said - saying "Nashville is a successful Southern market while Carolina isn't" is an incredibly lazy and unfair comparison.

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07-18-2017, 01:28 PM
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That said, I wouldn't say that Carolina has "never" been a consistent winner. They won the Cup after all which should get fans excited enough to pack the arena for a season or two.
Attendance peaked in 12-13 which was 7 years after the Cup win season and 4 years after the team's last playoff appearance. It took a good string of 12th-14th place finishes before attendance finally started to really suffer. So your supposition at least on that point is correct, and more.

As for being a "consistent winner" I doubt that you'll find too many people that would agree with that, being as how the team is currently in an 8-season drought of no playoff appearances and only two appearances (albeit memorable ones) in the last 12 seasons.

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