Corporate Sponsorships Help NHL Drive Annual Revenues To $5.2 Billion
By Alan Snel of LVSportsBiz.com
The National Hockey League’s annual revenues increased to $5.2 billion, thanks, in part, to $750 million in corporate sponsorships, NHL Commissioner Gary Bettman told the media Wednesday.
Speaking before the Tampa Bay Lightning vs Colorado Avalanche Stanley Cup Final Game 1 in Denver, Bettman said the revenues increased from $4.6 billion and they’re projected to go higher than the $5.2 billion mark.
Bettman believes the increased revenues correlate with increased interest in the sport.
Missing from Bettman’s opening remarks that praised the major league sport and answers to reporters’ questions is what the league is doing to increase the sport’s interest among the Black and Latino demo groups, which is crucial to growing major league hockey in a diverse country.
NFL revenues are about three times more than the NHL’s annual revenues thanks to billion-dollar TV rights deals and a diverse fan base. Keep in mind NFL Commissioner Roger Goodell wants NFL annual revenues to reach $25 billion by 2027.
Here’s a segment of Bettman’s opening comments:
In other news, Bettman:
^ Downplayed the Arizona Coyotes playing in a smaller arena for a while until the team works on a permanent solution to its venue issue. He noted franchises in Calgary, San Jose and Tampa Bay all played in smaller arenas until their permanent venue was ready.
^ Noted the NHL can be watched on platforms in 150 countries around the world.
^ Said the Lightning’s potential three-peat “dynasty” is “quite a feat” in what he termed the “hard cap era.” Bettman bristled at a question that implied the Lightning used loopholes to get around the hard cap, saying Tampa Bay was good at managing the cap under an agreement that affects all 32 NHL teams.
^ Promoted the new sponsorship deal extension with Pepsi, which also is a big sponsor of the Avalanche’s Ball Arena. Pepsi used to have the arena’s naming rights.
Deputy Commissioner Bill Daly, Bettman’s trusty sidekick, also indicated that the league will not change its descriptions of injuries beyond “upper body” or “lower body” to enhance sports betting fans.
Daly said the players’ safety and health take priority over betting on NHL games. “We plead guilty to that,” Daily said.
LVSportsBiz.com coverage of the 2022 Stanley Cup Final is presented by Las Vegas real estate agent Liz Lane and ISM Bicycle Saddles.
