Alexander Ovechkin Press Conference

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.

Capitals accuse Letang of leaving his feet, hitting Johansson in head

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Get this: the Washington Capitals and Pittsburgh Penguins seem divided on the legality of Kris Letang‘s hit on Marcus Johansson.

(Take a moment to gather your thoughts amid this shocking revelation.)

You can watch the hit over and over in the video above. This post features some takes on that check, which the NHL’s Department of Player Safety is reportedly reviewing.

Generally speaking, the three things people discuss regarding the check is how late it might be, if Letang used his feet and if Johansson’s head was the principal point of contact.

Letang told his side of the story:

The Capitals disagree:

While Barry Trotz pleads the Fifth after his previous comments about Brooks Orpik‘s suspension:

No doubt about it, Letang’s status is the top story to follow in this series between Games 3 and 4. We’ll find out soon enough how it all shakes out.

Penguins ride Murray’s masterpiece to 2-1 series lead vs. Capitals

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If Marc-Andre Fleury suiting up bothers Matt Murray, then the rookie goalie channeled those feelings into a masterful performance on Monday.

The Washington Capitals absolutely dominated Game 3, but Murray was even better, stopping 47 shots as the Penguins stole one 3-2 to take a 2-1 series lead.

(Capitals fans might see some parallels to Washington’s Game 5 loss to the Philadelphia Flyers; they fell 2-0 despite a 44-11 shots on goal edge thanks to Michal Neuvirth‘s heroics.)

Murray stopped chance after chance before Alex Ovechkin finally broke through for his first goal of this series. Justin Williams then brought the Penguins’ lead down to 3-2 to make for a hold-your-breath final minute.

A driven Ovechkin and strong overall play from the Capitals (despite this defeat) aren’t the only reasons why Game 4 might present some twists.

First things first: Kris Letang might get suspended for Game 4 (if not for more than one game) thanks to this controversial check on Marcus Johansson.

Beyond that, there could be some bumps and bruises from this contest.

Bryan Rust left during the first period and didn’t return to the game after blocking a shot. Brian Dumoulin seemed shaken up after an Alex Ovechkin hit in the third period. The Capitals might have a player or two to look at, as well.

In other words, the Penguins could really lack for quality defensemen with Letang possibly suspended and possible injury absences for Dumoulin and Olli Maatta.

This series is living up to the hype … and really building up the hate.

Yes, NHL is reportedly looking at Letang’s hit on Johansson

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It remains to be seen if Kris Letang will get suspended for his hit on Marcus Johansson … and if he does, for how long.

(You can read initial reactions and some analysis about the specifics of the check vs. the one that got Brooks Orpik suspended here.)

There are a few things we do know already.

For one thing, the NHL’s Department of Player Safety is reportedly looking into it.

Another factor that could help Letang avoid a suspension or limit the duration of supplemental discipline: Marcus Johansson returned during the second period.

In fact, Johansson delivered some hits on Letang.

There have been some nasty moments in Game 3, and more might be coming. The Penguins lead 2-0 with a few minutes remaining in the middle frame.

Kris Letang may face suspension for hit on Marcus Johansson

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Update: Reports indicate that the NHL’s Department of Player Safety is indeed looking into the hit.

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As thrilling as this Pittsburgh Penguins – Washington Capitals series has been, it seems like every game presents another controversial hit.

Game 3’s most noteworthy entry (so far?) came when Kris Letang was whistled for interference on Marcus Johansson.

Penguins fans griped that Brooks Orpik didn’t get a major penalty for his hit on Olli Maatta … now Capitals fans likely feel the same about the check Letang delivered.

Watch it in the video above. Also, Stefanie “My Regular Face” has it in GIF form:

Things could get ugly in Game 3:

One factor in a suspension happening – or at least the duration of the suspension – would be what the point of contact was:

Also, lateness of the check:

The Penguins ended the first period up 2-0 against the Capitals, even though Washington played one of its best 20 minutes of the series. Expect more drama.

Update: The Penguins won the game 3-2.

Read reactions to the check here.