St. Louis Blues Embrace Financial Challenges as They Enter a New Era
The St. Louis Blues are embarking on a new chapter in their franchise’s history, and it comes with financial challenges. As the team looks to build a competitive roster rather than undergoing a full rebuild, they are aware of the financial impacts that come with this decision. While ticket sales are a significant source of revenue for NHL teams, the Blues are fortunate to have dedicated fans, corporate partners, and sponsors who understand the ups and downs of the game.
Blues owner Tom Stillman emphasized that while financial considerations do play a role, it is not the primary concern. He pointed out that while losing teams typically experience a drop in attendance, the Blues saw an increase in average attendance last year compared to the previous season. In addition, season ticket sales remain on par with previous years following a playoff run.
The team’s strong corporate partnerships and sponsorships also contribute to their financial stability. They have recently announced expanded partnerships with First Community Credit Union and Post Holdings, highlighting the continued support from their partners.
However, the Blues do face a challenge on the business side in terms of local television rights. With the bankruptcy of Diamond Sports and subsequent drops in regional Bally Sports affiliates, including the Coyotes, uncertainty looms over the local television rights situation. Stillman expressed his concerns about this issue, as it affects not only the Blues but also several other NHL teams and Major League Baseball teams.
While the exact revenue derived from local television rights was not disclosed, it is considered a significant amount alongside ticket sales and corporate sponsorships for NHL teams. Stillman commended the league for its efforts in centralizing more revenues at the league level, leveling the playing field for teams from medium-sized markets like the Blues compared to those in larger markets.
The Blues’ upcoming season will see 69 games aired on Bally Sports Midwest, with the remaining 13 broadcasted nationally on various networks. As they strive to return to the playoffs after missing out last year, the team acknowledges that certain factors contributed to their underwhelming performance, both on and off the ice. They are confident that this season will showcase their true potential as they aim to bounce back and deliver a strong performance.
In the midst of financial challenges and uncertainties, the St. Louis Blues remain focused on their goal of icing a competitive team and creating an exceptional experience for their fans. With the continuous support of their dedicated fan base, corporate partners, and sponsors, the Blues are ready to embrace the challenges of this new era in their franchise’s history.
The Blues’ journey begins on Thursday night in Dallas, and their home opener will take place on Saturday against the Seattle Kraken. As they take each step forward, they are determined to prove their resilience and show that they are a team to be reckoned with in the NHL.
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