When it comes to hockey, the Los Angeles Kings and their fans want to see a winner and eventually another Stanley Cup. They spend a few hours enjoying the best hockey team in the state of California.
What some do not see is the business side of the sport. The business side of any sport is rewarding and sometimes a cruel one. However, when it comes to the Kings they are doing well in all aspects of revenue and the business side could not be better right now for the Kings organization.
Forbes recently came out with the Business Side of Hockey, showing the financial side of the sport and they ranked the top teams in the NHL according to how much the franchise is worth. Los Angeles dropped in at number 8, their total worth being $1.025 billion. Kings Owner Philip Anschutz bought the franchise for $113.3 million in 1995 and has not looked back. With steady gates and the team doing well over the past few years it looks like a win-win for everyone involved in that transaction. Based on last season the revenue accumulated was $88 million.
The evaluation breakdown and criteria include sport, market, stadium, and brand. A lot of numbers involved see the Kings as one of the more revenue-successful teams in the NHL. With a metro population of 13.2 million that revenue can only increase.
The Kings are not that far off from the number one spot, which is currently being held by the New York Rangers, valued at $2 billion. With the addition of forward Kevin Fiala and another year of the young prospects that revenue could go up even more with another successful year from the Kings organization. It will be interesting to see the numbers financially after this upcoming season to see if there was an increased growth via revenue.
(photo: thestar.com; Andrew Dalton) (photo: lakingsinsider.com; Zach Dooley)