The notable exception is the 2021 season, which was reduced from 84 to 56 games due to Covid. Profits have soared since the players’ share of hockey-related revenue was lowered to a maximum of 50% beginning with the 2013 season, from 57%, where it stood from 2008 through 2012. Since 2014, when players’ take fell to 50%, teams’ operating income has averaged $21 million when you toss out the 2021 season, which was cut from 82 regular season games to 56 games due to the pandemic. Seven percentage points might not seem like much, but think about this: From 2006 through 2013, when the players’ cut was 57%, the league’s average operating income was $5.4 million. Operating income (earnings before interest, taxes, depreciation and amortization) averaged $49 million, nearly double the previous high of $25 million in both 20. Revenue per team last season averaged $185 million, compared with the previous record of $164 million in 2019, the last season not impacted by Covid-19. The 50-50 split between owners and players has made all the difference to the teams’ bottom lines, especially when you consider the 2014 change from the players getting 57% of hockey-related revenue to the current half. The TV deals have given a big boost to the top line (the networks are giong to pay the league a combined $650 million annually over seven years, nearly three times the previous deal with NBC) and strong ratings. The optimism is fueled by the league’s new national media deals with ESPN and TNT that began last season and the league’s collective bargaining agreement, which limits players to 50% of hockey-related income (a record $5.4 billion last season).
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