Chicago Blackhawks to Surpass This Huge Milestone
Wow have the Chicago Blackhawks come a long way in just six years. Not only have they added three Stanley Cup Championships to their credit, but the team is about to surpass a huge financial milestone.
As reported by Forbes, the Blackhawks are on the verge of being worth $1 billion. What is most impressive is, they have done this in just six short years, since the start of this current dynasty.
In 2009 the Blackhawks franchise was worth just $258 million. After their third title in the past six seasons, the Blackhawks now check in at an astronomical $825 million, and once their current TV and radio deals are over they will eclipse the billion dollar mark.
Not only has the Blackhawks value increased over the past six years, but also the entire NHL’s value has increased as well. After the 2014-15 season the average NHL franchise worth nearly hit the $500 million mark, and most franchises have experienced double digit growth from the year before. One could make the correlation between the Blackhawks success, and the incredible growth of the NHL in general. When an Original Six wins, it is always good for hockey. When that Original Six team is in a big city and has likable players, the NHL booms.
The $825 million just scratches the surface on the Blackhawks total team worth however. Â While the team has earned the NHL’s forth highest local television ratings, which owner Rocky Wirtz owns a 20% ownership share in the regional sports network (Comcast SportsNet Chicago), and his share of the reasons isn’t included in the Blackhawks’ financial numbers.
Speaking of TV deals, Comcast pays the team $9 million annually, a ridiculously low amount compared to the ratings the team brings in. With the expectation that the team is still competitive, and the team remains one if the faces of the league, they will be in line to break the bank with their next local TV and radio deals.
The team will also break the bank with increased ticket sales with the expectation of a continued rise in ticket prices. The team had increased their average ticket price by nearly two thirds since 2008, and while some fans might balk at the prices the team is in line with their place in the NHL’s hierarchy. Additionally, when the team carries a sellout streak that reaches bank too March of 2008, the increase to an average price of $79 is completely warranted.
As Chicago goes, so does the NHL. With the Blackhawks success you can only expect the league to continue to grow in popularity.
Hey Blackhawk fan! Be sure to read my very important message on following the Patrick Kane story.
