"Patrick Roy, he was my favourite player in the NHL. I wanted to play here when I was a kid."
- Semyon Varlamov on being acquired by the Avalanche in the off-season
"Patrick Roy, he was my favourite player in the NHL. I wanted to play here when I was a kid."
- Semyon Varlamov on being acquired by the Avalanche in the off-season
A tumbling Canadian dollar hits north of the 49th parallel, while a reworked lease in South Florida gives the Panthers a new lease on life.
A depressed Canadian dollar is obviously not good business for anyone in the NHL. With Canadian teams driving a good portion of the league’s revenues and the $5.2 billion television deal begin paid to the league in Canadian funds, every drop in the dollar represents revenue lost for the league.
And that is no more evident than it is in Forbes magazine’s annual ranking of NHL franchise values for 2016. Of the 30 NHL teams, only eight of them saw their franchise value decrease over the past year – the New Jersey Devils and all seven Canadian franchises. The Vancouver Canucks saw the most precipitous drop league-wide, with its value going down 6.1 percent to $700 million. Among Canadian teams, the Edmonton Oilers experienced the lowest drop, by 2.3 percent to $445 million, a loss that was mitigated largely due to the fact they moved into Rogers Place this season.
To the surprise of no one, the New York Rangers are the most valuable franchise in the league, with an overall value of $1.25 billion, up 4.2 percent from last year. They’re followed by two Canadian teams – the Montreal Canadiens at $1.12 billion (down 4.7 percent) and the Toronto Maple Leafs at $1.1 billion (down 4.4 percent).
“The (Canadian) dollar has had a huge impact on that for sure,” said Forbes executive editor Mike Ozanian, who compiles the list. “Over the past four years we’ve done this, it has gone from parity to 90 cents on the dollar to 83 to 75.”
The Canadian dollar is currently trading in the 75-cent range and most forecasters don’t expect that to change drastically over the next year or so, which means Canadian franchises, while still very valuable in the grand scheme of things, might not see any rise in their value in the next little while. The Canucks are the seventh most valuable franchise, with the Oilers checking in at No. 14, the Calgary Flames at 16, the Ottawa Senators at 20 and Winnipeg Jets at 21.
There were some interesting teams on the list, notably the Florida Panthers and New York Islanders. The Panthers are No. 29 on the list, ahead of only the Carolina Hurricanes, but saw their value rise a league-high 26 percent to $235 million this year. That’s in large part due to a deal that the team cut with Broward County last year which will see it receive $86 million in tourist taxes over the next 13 years as well as getting almost all the revenue created by the BB&T Center in exchange for the development rights to 140 acres around the arena that Panthers owner Vinnie Viola transferred back to the county. It also helped that the Panthers made the playoffs for just the second time in 15 years and their local television numbers were better. (The latter doesn’t help much now because the Panthers’ local TV deal still has five years go and much of that money was paid up front to previous owners.)
Even though the deal with Broward County runs through 2028, the Panthers have an out-clause that would allow them to relocate after the 2022-23 season if they lose more than $100 million between last season and 2021-22 and give one year's notice. “They basically monetized the land and they’re more portable now,” Ozanian said. “I’m not saying they are going to leave, but it is a plus.”
Panthers executive chairman Peter Luukko said he disagrees with Forbes numbers, but did acknowledge that the Panthers have increased in their value due to more stable ownership, a better product on the ice and the deal with Broward County. What the deal with the county does, Luukko said, was give the Panthers, “a lease that’s more commensurate with the times.” As far as the effect it has had on the bottom line, Luukko said the Panthers are still losing money, “we’re definitely cutting into those.” The Panthers said they lost $36 million in 2014-15.
The Islanders were another team that saw its franchise value spike upward, despite the fact that it ranks second-last in NHL attendance and its valuation by Forbes is $385 million, which is $100 million lower than the announced selling price when Charles Wang sold the team two years ago. Ozanian said the Islanders revenues from the Barclays Center are only in the $50 million range and the owners are carrying a considerable amount of debt, playing at Barclays has mitigated some of the team’s losses. “It’s a weird situation,” Ozanian said.
Overall, Ozanian said the league’s franchise values have been helped by the Rogers television deal, the league’s seven percent ownership in BamTech (which could increase to 12 percent) as part of its deal with MLB Advanced Media and an owner-friendly collective bargaining agreement. The Forbes numbers, it should be noted, are based on the revenues and expenses of all teams, including the arena’s economics as they pertain to the owner of the team. (Which explains why the Rangers come out on top.) Based on that formula, each team averages about $15 million in operating income, but almost half that total income of about $450 million ($219 million) is accounted for by the Rangers, Canadiens and Leafs.
The magazine, meanwhile, valued the Pittsburgh Penguins at $570 million, which is almost $200 million less than owners Ron Burkle and Mario Lemieux were seeking last season. And that’s with $26 million in operating income and a team that has strong revenue potential for the next couple of years. But generally, the future looks pretty favorable, the Canadian dollar notwithstanding.
“I think that even the lower revenue teams have benefitted,” Ozanian said. “Arguably, it has benefitted them the most because it’s more plausible for them to turn a profit.”
NHL FRANCHISE VALUES*
1. New York Rangers: $1.25 billion (+4.2%)
2. Montreal Canadiens: $1.12 billion (-4.7%)
3. Toronto Maple Leafs: $1.1 billion (-4.4%)
4. Chicago Blackhawks: $985 million ( - )
5. Boston Bruins: $800 million (+6.6%)
6. Philadelphia Flyers: $720 million (+9.1%)
7. Vancouver Canucks: $700 million (-6.1%)
8. Detroit Red Wings: $625 million (+4.2%)
9. Los Angeles Kings: $600 million (+3.4%)
10. Pittsburgh Penguins: $570 million (+1.8%)
- Washington Capitals: $570 million (+0.8%)
12. Dallas Stars: $500 million (+11%)
13. San Jose Sharks: $470 million (+5.5%)
14. Edmonton Oilers: $445 million (-2.3%)
15. Anaheim Ducks: $415 million (+3.6%)
16. Calgary Flames: $410 million (-5.8%)
17. Minnesota Wild: $400 million (+5.3%)
18. New York Islanders: $385 million (+18%)
19. Colorado Avalanche: $360 million ( - )
20. Ottawa Senators: $355 million (-4%)
21. Winnipeg Jets: $340 million (-3%)
22. New Jersey Devils: $320 million (-3%)
23. St. Louis Blues: $310 million (+15%)
24. Tampa Bay Lightning: $305 million (+17%)
25. Buffalo Sabres: $300 million ( - )
26. Nashville Predators: $270 million (+5.9%)
27. Columbus Blue Jackets: $245 million (+8.4%)
28. Arizona Coyotes: $240 million (+9.1%)
29. Florida Panthers: $235 million (+26%)
30. Carolina Hurricanes: $230 million (+2.2%)
* Source: Forbes magazine
The 1998 expansion draft results.
Let's take a look back at five fairly big names that have been called at expansion drafts and how they managed to avoid ever actually playing for those teams.
Now that the Vegas Golden Knights have a name, a logo, and a future head coach, everyone is turning their attention to June's expansion draft. Who will the Knights end up with? Matt Murray? Jakob Silfverberg? Trevor van Riemsdyk? Maybe even an established veteran who waives a no-movement clause, like Dion Phaneuf or Rick Nash?
Those are all reasonably big names, and if the Golden Knights wound up picking any of them, you'd think it would make for a memorable moment.
Then again, maybe not. You see, sometimes NHL expansion teams end up taking big name players, and everyone just kind of forgets about it. That's because there's no guarantee that any player taken by an expansion team will ever actually play for that expansion team.
So today, let's take a look back at five fairly big names that have been called at expansion drafts of the past, and how they managed to avoid ever actually suiting up for the fledgling franchises that chose them.
Tim Kerr, 1991
Early NHL expansion drafts of the 60s and 70s were fairly standard. A handful of good players were picked, including names like Terry Sawchuk, Glenn Hall and Bernie Parent. But for the most part, the established teams didn't offer much in the way of talent, and the expansion franchises patched together a team with whatever they could find. That's why most of the early expansion teams were awful.
But by the time the second wave of expansion had hit in the 1990s, the new teams were willing to get a little more creative. Oh, they'd still be awful. But they realized that just because they drafted a player didn't mean they had to keep him, and it became common to see trades worked out as soon as the expansion draft was over (and sometimes even sooner).
Take the 1991 draft, for example. That was the weird expansion/dispersal hybrid that featured the San Jose Sharks and the Minnesota North Stars, which we covered in some depth over the summer. The most famous weird pick from that draft was the very last one, in which the North Stars picked quasi-retired Hall of Famer Guy Lafleur because they didn't want any Quebec Nordiques and the rules wouldn't allow them to pass. But another well-known sniper was also taken that day.
That would be Tim Kerr, a four-time 50-goal scorer for the Flyers who'd been slowed down by injuries. By 1991, he hadn't put together a full season in four years. But he was still scoring at well over a point-per-game pace when he did play, and seemed like the sort of guy who could be a good gamble for a contender.
The Sharks weren't a contender, but the Rangers were. And so the Sharks grabbed Kerr off of the Flyer's unprotected list, and then immediately flipped him to the Rangers in exchange for Brian Mullen. It was a smart deal for San Jose; Mullen ended up being their second-leading scorer in their debut season. It worked out worse for the Rangers, as Kerr struggled through another injury-shortened year before being dealt to Hartford.
Daren Puppa, 1993
Here's a fun way to confuse hockey fans of a certain age: Ask them how Daren Puppa ended up with the Lightning back in 1993.
Chances are, they'll tell you some version of the same story: Puppa was splitting time in Buffalo with newcomer Dominik Hasek, then was traded to the Maple Leafs in the big Grant Fuhr/Dave Andreychuk blockbuster. He backed up Felix Potvin in Toronto for their epic playoff run, then went to the Tampa Bay Lightning in that summer's expansion draft.
Just about everyone remembers it that way. But there's a slight problem: The Lightning were already in the league in 1992-93. Their expansion draft had been the year before, when Puppa was still with the Sabres.
That glitch in the matrix can be explained by an oddity of the 1993 expansion draft: There were actually two of them. The first stocked the two new teams, the Florida Panthers and Anaheim Mighty Ducks. The second allowed the three most recent teams, the Sharks, Senators and Lightning, to pick players from those two newcomers.
That's what happened with Puppa. It was actually the Panthers who snagged him from Toronto. Then the Lightning took him off of the Panthers' hands.
Fellow goaltender Glenn Healy followed a similar path, but with an additional stop. He went from the Islanders to the Mighty Ducks to the Lightning over the course of the double draft. But he didn't stop there. The Lightning turned around and flipped him to the Rangers in exchange for a third round pick.
Not too many players get to be the property of four teams within a few hours, but it all worked out well for Healy. He won a Stanley Cup in New York the next year, backing up superstar Mike Richter.
Speaking of whom…
Mike Richter, 1998
As every Rangers fan knows, Richter played his entire 14-year career in New York, debuting in 1989-1990 and sticking with the franchise until 2003. Once a Ranger, always a Ranger.
That's why it may come as a surprise to see Richter's name show up as one of the picks in the 1998 expansion draft. But indeed he was, taken by the Predators and becoming an inaugural member of the first NHL team ever put together in Nashville.
For six days. Then he became an unrestricted free agent. Then he re-signed with the Rangers.
That sounds ridiculous, but what the Predators were doing actually made perfect sense. This was back when the NHL had a weird draft pick compensation rule for teams that lost free agents. The Predators knew that Richter would never play for them, but when they technically "lost" him to the Rangers, they got a free draft pick from the league for their troubles. They did the same with another one of their expansion picks, Uwe Krupp.
(By the way, that same rule led to Richter departing New York a second time, this time in a trade to the Oilers in 2002. Once again, he simply re-signed with the Rangers a few days later.)
Mathieu Schneider, 2000
In addition to being a very good defenseman for most of his career, Mathieu Schneider is one of the great "played for everyone" guys of his generation. He had a 20-year career, during which he played for a staggering 10 different teams. He was traded seven times, in deals involving everyone from Kirk Muller to Wendel Clark to Sean Avery. He got around.
So you'd assume that he must have suited up for an expansion team at least once. Nope. But he was drafted by one in 2000, when the Blue Jackets joined the league.
Schneider had finished up the 1999-2000 season with the Rangers, because apparently they need to be involved in every one of these things. He was scheduled to hit UFA status, so you can probably see where this is going. Yes, it's another one of those shady compensation pick deals, in which the Blue Jackets wound up claiming a fourth-rounder in the 2001 draft after Schneider signed with the Kings later that summer.
The Blue Jackets probably didn't mind too much, since Schneider was already 31 at the time and only had a few years left in him. "A few" ended up being a full decade's worth; he played until 2010.
As a side note, the Blue Jackets ended up flipping that fourth-round pick to the Panthers in a deal that brought Ray Whitney to Columbus. So in a sense, Whitney and Schneider were sort of traded for each other. I'm not sure how many trades in NHL history involve two players who could account for 42 seasons and 18 teams, but I'm guessing it's not many.
Mike Vernon, 2000
We'll close with yet another goaltender, since there's something about the position that just seems to attract expansion draft shenanigans. Marc-Andre Fleury, keep your head up.
By the time the 2000 offseason rolled around, Vernon had just about done it all over the course of a long career. He'd won a Cup with two different teams, been a Vezina finalist, won the Jennings and the Conn Smythe, and pummeled Patrick Roy. He had a good run.
The one thing he hadn't done was get picked in an expansion draft. The Minnesota Wild took care of that, plucking him from the Florida Panthers in a move that made everyone go "Wait, Mike Vernon once played for the Florida Panthers?"
He did, for a few games at the end of the 1999-2000 season. But he never played for the Wild. They turned around and traded him that same day, sending him home to Calgary to finish his career. Other familiar names that were picked by the Wild and then immediately traded include Joe Juneau and Chris Terreri.
As for Vernon, he played parts of two more seasons in Calgary before retiring as a Flame in 2002.
Sean McIndoe has been writing about the NHL since 2008, most recently for ESPN and Grantland. He spends most of his time making jokes on twitter, where you may know him as @downgoesbrown. He appears weekly on TheHockeyNews.com.
Brendan Gallagher talks about his favourite players growing up, and the bizarre Montreal "squirrel hat."
Favorite team and player growing up?
I was an Edmonton Oilers fan. My favorite player was Mike Comrie for a bit, then it became Raffi Torres. Those were my favorite players. I was young and I didn’t know.
Who was your mentor?
My Dad, Ian, always coached me when I was young. When I was 12 or 13 he stopped coaching, but he is always someone I could talk to. He understood my game. He’s my strength coach and trains me in the summer. He’s someone who really understands me and my body. He also helps me when I don’t play well and tells me things to help me improve when I’m going through a slump.
Who did you model your game after?
I always liked watching Martin St-Louis. He’s a smaller guy that I could look up to and just see little tricks that he did. I was able to play against him a little bit as well. The thing you always noticed is how hard he competed. Never took a shift off, loved to win. When I watched him play, it stuck with me.
Memories from your NHL first game?
My first game was against Florida at home. ‘Chucky’ (Alex Galchenyuk) scored his first goal in that game. I got an assist. I don’t know how they gave me an assist on it, but that was my first point. I don’t think I deserved it, but they gave it to me. It was special to share that with Chucky. Two rookies playing together. It was pretty cool.
Best thing about being an NHLer?
The food we get on the road. The Canadiens staff treats us pretty good. Whether we’re on the plane or in a hotel, they always have food ready for us.
Worst thing about being an NHLer?
The lack of sleep some nights. After we play and fly to a new city, sometimes we get in at three or four in the morning and we have to get up the next day for practice. It’s probably the worst thing.
First major purchase after signing an NHL contract?
A golf cart. That was pretty sweet. I live on a course, so it’s easy to get around.
Most important skill to work on?
A lot of my game is being in tight to the net. So I like to work on tipping pucks. Being in tight to the crease flipping pucks in the top corner, since that usually is where I find myself. I find when I practise this it helps me in the games.
What’s your craziest fan interaction?
We’ve got a fan in Montreal that makes everyone put on this squirrel hat. Apparently when you put it on, he takes a picture. He always says when you put it on you’re going to score a goal or something the next game. I don’t really believe it. It’s a pretty gross hat. He got me on it too. I bit. I don’t remember if I scored or not, but I put on the hat.
Best advice for a young player?
Don’t get caught up in all the talk around you. Enjoy it. Everyone remembers their minor hockey days. Everyone is always looking too many years in the future. Think about your team and how you can become a good player to help your team win. Also have fun doing it.
– With Murray Pam
Connor McDavid (left) and Sidney Crosby
The two phenoms from different generations are staking their claims early and this is the first of what will likely be several showdowns for MVP honors
So there was some nice hockey played Thursday night. You may have seen it. You may have also noticed that two of the biggest names in the sport were right in the thick of the matter. Penguins captain Sidney Crosby notched his league-leading 16th goal of the campaign, while Oilers captain Connor McDavid kept his perch atop the NHL scoring pile by tallying three assists, giving him 34 points through 25 games.
This is fun, people. Because this is the first year in which Crosby and McDavid will go head-to-head for the Hart Trophy. We probably have a couple seasons of this happening, as eventually age will catch up with Crosby, while Jack Eichel, Auston Matthews and others attempt to catch up with McDavid.
So with all due respect to Nikita Kucherov, Carey Price and Vladimir Tarasenko, let's take a look at the debate. First, let's take a look at Sid's artistry:
Ohhh, that's the good stuff. Not to be outdone, McDavid had an excellent scoring chance against the Jets last night by stripping the puck off defenseman Paul Postma in what can only be described as a spiritual de-pantsing. To put it another way, both Crosby and McDavid are hot right now. And barring injury – which has basically been the only thing to slow these players down in the past – we're looking at McDavid collecting his first-ever Art Ross Trophy as NHL scoring champ this season.
The Edmonton phenom is on pace for 111 points and as impressive as that is, his team is in a playoff position right now. As an explainer for Millennial Oilers fans, the playoffs happen after the NHL's 82 regular season game schedule. It's almost as exciting as the draft lottery.
Sarcasm aside, McDavid isn't the only one on his team having a good season and that means the world. I'm not calling them contenders just yet, but a post-season berth looks very real.
Meanwhile, Crosby has the best points-per-game mark in the NHL at 1.39. Missing the first six games of the year due to a concussion is the only thing keeping him from the scoring crown right now and even if he can't quite continue his torrid pace, he still has a great shot at 50 goals and the Rocket Richard Trophy. Right now, he's on pace for 106 points in 76 games.
Crosby has a slight edge in possession numbers (58 percent Corsi For vs. 55 percent for McDavid) and is better on faceoffs. But his supporting cast is also better in Pittsburgh – Evgeni Malkin is, himself, a Hart Trophy winner – so how do you compare the Penguin to the Oiler?
It may come down to the "feel" a bunch of writers get. The Hart, like most awards, is determined by members of the Professional Hockey Writers Association (or "FWAH!" as I pronounce it. And yes, I am a member). Crosby is widely acknowledged as the best player in the game right now, so does that give him a bit of an edge, should both players finish with similar stats? Or does the newness of McDavid propel him over the top? I mean, Sid's already got Harts, right?
We also have higher standards for the Penguins. Pittsburgh should make the playoffs, as the defending Stanley Cup champs. If they don't win the division, is that a knock on Sid? Meanwhile, McDavid getting Edmonton to the post-season would be seen as a big accomplishment.
It's a great debate and one we'll likely be hearing for quite some time. And the best part is, it involves two incredibly gifted players putting up a bunch of points and highlights.