Forbes list of NHL team values: 10 observations

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For those with an interest in the business of the NHL, here are 10 observations about Forbes’ just-published list of franchise values. Other readers might find these observations boring. So let’s get right to it!

1. The Capitals have nearly doubled in value since 2004, from $115 million to $225 million. So say what you will about Alex Ovechkin underperforming his massive contract, he’s already made Ted Leonsis a pile of money on paper. No way Washington is worth as much without Ovi.

2. According to Forbes, the four teams carrying the most debt as a percentage of franchise value are New Jersey (144%), Dallas (126%), St. Louis (81%) and Carolina (77%). Forget the Stars, because they have a new owner now. But there’s a reason the Devils have reportedly been flirting with bankruptcy, the Blues are for sale, and the Hurricanes were forced to bring in a bunch of new investors. It’s a dangerous time to be highly leveraged.

3. The Winnipeg Jets are valued at $164 million. They were sold this summer for $110 million, plus a $60 million relocation fee paid to the NHL for the privilege of moving out of Atlanta. Now consider the NHL bought the Phoenix Coyotes for $140 million two years ago. Given the City of Glendale is covering annual losses up to $25 million, could the league end up making a profit on its purchase if the franchise relocates at the end of the season?

4. The Leafs’ operating income is estimated at $81.8 million, by far the most in the NHL. And that’s without any postseason revenue. Imagine if they actually make the playoffs this season. Tickets probably won’t be cheap.

5. The Flyers’ revenue fell by $10 million. Presumably the difference between making the Stanley Cup final in 2010 and losing in the second round last season.

6. Despite the economy, only seven teams are worth less today than they were last year. For those wondering why Gary Bettman makes a lot of money, there you go.

7. Over half the Islanders’ franchise value is attributed to its market, which Forbes says is worth $78 million. Nashville’s market, in contrast, is valued at just $52 million. Translation: the NHL will do everything it can to facilitate the building of a new arena that will keep the Isles where they are. You don’t walk away from affluent, densely-populated markets like Long Island without a fight.

8. The Rangers’ franchise value rose by $46 million over last year. The prospect of a renovated Madison Square Garden with all the additional revenue sources that come with modern arenas was a big reason why. They’re not sinking $850 million into MSG because it was looking a little drab.

9. The Toronto hockey market is estimated to be worth $254 million. Thus, the talk of adding a second team. Also, the reason the Leafs are so protective of their territory. The monopoly they enjoy comprises a huge chunk of their franchise value. Obviously they’ll want to be compensated if another team moves in.

10. The Detroit Red Wings are worth $336 million. Mike Ilitch bought them in 1982 for $8 million. Nice little investment.

Report: Hobey Baker winner Butcher won’t sign with Avs, will test free agency

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It looks like the NCAA’s Hobey Baker Award winner won’t sign with the NHL team that has his rights … again.

Last year, Jimmy Vesey rejected the Nashville Predators’ offers in a very public way, ultimately signing with the New York Rangers. Defenseman Will Butcher will test free agency on Aug. 15 instead of agreeing to an entry-level contract with the Colorado Avalanche, as his agent confirmed to BSN Denver’s Adrian Dater.

“We informed the Avalanche of that decision,” Butcher’s agent, Brian Bartlett, told BSN Denver. “We appreciate what Colorado has done, and we’re not ruling out the Avalanche as a potential destination. But we just feel there will be other opportunities that should be explored too, and therefore we’re going (to the 15th).”

Those who’ve followed Butcher’s situation probably aren’t too surprised by the news.

It became clear as early as 2016 that the Avalanche weren’t interested in signing Butcher, a high-scoring defenseman they selected in the fifth round of a disastrous 2014 draft class.

This disinterest came even as Butcher generated 32 points in 39 games for the University of Denver in 2015-16, and he topped that last season, generating 37 points in 43 contests to take home the Hobey Baker. Butcher also enjoyed team success in 2016-17, helping Denver win a national championship.

At 22, he’d sign a cheap entry-level deal, only getting more expensive bonuses if Butcher excels, which would be worth it for just about any suitor. He’s likely to draw plenty of interest, whether he takes the Avalanche’s offers seriously or not.

Pension Plan Puppets provides an argument for why the Toronto Maple Leafs should be interested, while Second City Hockey went in-depth on the pluses for the defense-challenged Chicago Blackhawks, just to name two possible destinations that could make sense for Butcher.

Sharks add assistant Barr as ‘eye in the sky’

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The San Jose Sharks added experienced assistant Dave Barr to Peter DeBoer’s coaching staff on Wednesday.

The team noted that Barr will serves as the Sharks’ “eye-in-the-sky” during the 2017-18 season.

DeBoer has experience with Barr, as he served as an assistant during the New Jersey Devils’ run to the 2012 Stanley Cup Final. Barr was also part of that mess with the Florida Panthers last season.

Beyond that, Barr is quite experienced, as you can see from the team’s summary of his recent coaching travels:

Barr has spent the past nine seasons coaching in various capacities in the NHL, serving most recently as an associate coach of the Florida Panthers during the 2016-17 season. Prior to his time in Florida, Barr served as an NHL assistant coach for eight seasons, with stops in Buffalo (2015-16), New Jersey (2011-15), Minnesota (2009-11) and Colorado (2008-09). Barr was a member of Peter DeBoer’s coaching staff during his four-year tenure with New Jersey, helping the team reach the 2012 Stanley Cup Final. 

The 56-year-old Barr spent four seasons as the head coach and general manager of the Guelph Storm in the Ontario Hockey League (OHL) from 2004-08, where he was named the Matt Leyden Trophy winner as the OHL’s Coach of the Year in 2005-06. In addition, he was selected to coach Canada’s National Summer Under-18 Team at the Ivan Hlinka Memorial Tournament in 2007. 

Coyotes add MacLean and Allen to coaching staff

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John MacLean will, indeed, be an assistant coach on Rick Tocchet’s staff in Arizona, as reported yesterday.

So too will Scott Allen.

“We are very pleased to have John and Scott join the Coyotes organization,” said Coyotes GM John Chayka in a release. “Both individuals bring a wealth of hockey knowledge and coaching experience to our team and we are confident that they will be great additions to Head Coach Rick Tocchet’s staff.”

MacLean — who had a short, unsuccessful stint as head coach of the New Jersey Devils in 2010 — was last behind an NHL bench as an assistant on Kirk Muller’s staff in Carolina from 2011-14.

Allen spent last season as an assistant in Florida, before being let go to make way for Bob Boughner’s new staff.

The Coyotes also announced Mike Van Ryn as the new head coach of their AHL affiliate in Tucson. Van Ryn will be assisted by John Slaney and Steve Potvin.

Mark Lamb, last year’s head coach in Tucson, and Mark Hardy, Lamb’s assistant, will not be back.

Lamb was only hired a year ago; however, he got the job thanks in part to a previous working relationship with Dave Tippett. So it’s no surprise to hear Lamb won’t be back — especially after the Roadrunners missed the playoffs.

Related: John MacLean could reportedly join Tocchet’s coaching staff in Arizona

Welcome Nick Holden to the trade rumor mill

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Last summer, when Nick Holden was traded from Colorado to the Rangers, Patrick Roy called Alain Vigneault to say, “You just got one of my better defensemen.”

Now it seems that Holden may be on the trading block again.

From the New York Post, in the wake of Mika Zibanejad‘s contract extension:

The Blueshirts are projected to start the season with just $445,556 of cap space if they carry eight defensemen (including Alexei Bereglazov) and 14 forwards (including Andersson and Boo Nieves with Jesper Fast on IR). The Rangers are expected to attempt to deal defenseman Nick Holden ($1.65 million) in order to bulk up in the middle, if possible.

Holden played 80 games for the Rangers last season, scoring 11 goals with 23 assists. The 30-year-old is signed for one more year before he can become an unrestricted free agent.

If Holden is traded, the Rangers could go into next season with a top four of Ryan McDonagh, Kevin Shattenkirk, Brendan Smith and Brady Skjei. That would leave Marc Staal, Bereglazov, Anthony DeAngelo, and perhaps even Neal Pionk to fight for minutes on the bottom pairing.

What’s unclear is Holden’s value on the trade market. After all, the Rangers only gave up a fourth-round draft pick to get him from Colorado. Has his value risen significantly since?