A Hollow Award
The NHL has been boasting record revenues and increased attendance and television numbers year over year for some time now, and it seems that the Sports Business Journal is finally recognizing these benchmarks. A lot of that has to do with "a long-awaited return to international competition" and a "strong working relationship with the NHL Players Association," but the "12-year extension of its Canadian media rights agreement with Rogers Communications" was also cited by the publication as a major reason for the awarded honour.
What concerns me is that Sports Business Journal didn't even get the terms of the Rogers' deal correct. Alex Silverman wrote,The problem is that the value of the entire deal through 2037-38 is $7.7 billion in US funds. With Sports Business Journal reporting that the deal was worth $7.7 billion "annually", they have significantly and carelessly overstated the value of the deal by billions of dollars. The actual deal works out to being approximately $642 million USD annually for the NHL, so the Sports Business Journal overvalued the deal by $7.1 billion annually by their report. Details matter.
With the Sports Business Journal already recognizing the 4 Nations Face-Off as the SBJ Event of the Year last year along with having the Florida Panthers as Sports Team of the Year, the Sports Business Journal recognized the success of the 2026 Milano-Cortina Olympics as the reason for the NHL seeing "its best U.S. viewership in more than a decade". If that's the case, shouldn't the Milano-Cortina Olympics be recognized for its part for these great TV numbers?
In fact, the NHL should get zero credit for any Olympic involvement and the resulting benefits from the Olympics because of how long the NHL refused to participate. It was the NHLPA who demanded Olympic participation in the latest CBA negotiations, not the NHL. Taking credit for something that they were repeatedly criticized for not doing is entirely dishonest, and the Sports Business Journal should be fully aware of these facts. Somehow, they decided to ignore them.
I'll give credit to the NHL for working with the NHLPA more closely to improve relations between the two sides, and both sides deserve equal creit for extending the CBA through to 2030 before it was even close to expiring. However, that work wasn't entirely all the NHL's doing, and the NHLPA deserves as much credit as the NHL for keeping that labour peace. Again, the Sports Business Journal should be aware of this fact, but they seem to only credit the NHL for the CBA peace.
On the surface, the "League of the Year" seemingly didn't do much, so recognizing them for not being stupid doesn't make them smart. It only makes them less stupid. And yet there are other problems facing the NHL for which the Sports Business Journal didn't account.
In celebrating "its best U.S. viewership in more than a decade," the Sports Business Journal didn't speak of all the regional broadcasters who stopped showing games due to financial issues. The FanDuel Sports Network isn't broadcasting the NHL Stanley Cup Playoffs due to filing for bankruptcy, both RDS and TVA Sports will stop French broadcasts in Quebec with TVA Sports' issues going as far back as 2017, Rogers Sportsnet announced increased costs for national and regional broadcasts, and teams such as the Dallas Stars, Vegas Golden Knights, Florida Panthers, and Utah Mammoth have all gone with cheaper over-the-air stations and their own streaming services for regional games. Talk about record TV viewers all you like, but the NHL is failing here with no way to recoup lost regional TV revenues.
Home attendance numbers will likely begin falling as well as ticket prices continue to climb. The Carolina Hurricanes are already priced out of some fans' budgets in these playoffs, the NHL's worst team is raising season ticket prices again, 2026 Stanley Cup Playoff tickets have exploded in price across the league, and some of the most expensive tickets in all of sports went up again this season.
With ticket price increases clearly outpacing the rise in income levels for fans, the NHL as a gate-driven league is on the precipice of seeing less fans come through the turnstiles due to how out of whack their ticket prices are. And I haven't even mentioned merchandise, concenssions, or parking yet. This, more than anything else they're facing, should be the most serious concern for the NHL to address.
The NHL is welcome to celebrate the Sports Business Journal's "League of the Year" award, but it should have been a little more humble in recognizing and giving credit to riding the coattails of some remarkable events and an incredible partner in the NHLPA who, I'd argue, did more to help the NHL than the NHL helped itself. There are still massive problems on the horizon when it comes to TV and ticket prices, so it's not like the NHL radically changed the sporting world in 2025 based on the Sports Business Journal's criteria.
You don't get credit for being smart when you're only less stupid.
Until next time, keep your sticks on the ice!
































