I recently read a Forbes’ article that ranked the Flyers the #8 most valuable team in the NHL, one spot higher than that other Pennsylvania hockey team, the Penguins. As of November, 2012, the Flyers were valued at $336 million with yearly revenue making up $124 million. Yearly operating income came in at a little more than $10 million, which is significantly less than the other teams in the top 10 (except for Pittsburgh and Los Angeles). About a third of the team’s value is attributed to the Wells Fargo center, which sold out every game in 2012. With the average ticket price increasing 20% every year since 2007, the Flyers made about $18 of revenue per fan last year. Additionally, an average of 63,000 households per game tuned into CSN Philadelphia to catch a glimpse of the Broad Street Bullies, the fifth-highest rate in hockey.
I think this holds a lot of meaning for Philadelphia fans. The Flyers are one out of three teams in the top 10 that have not won a Stanley Cup in the last 25 + years. This shows just how dedicated Philly fans are the Bullies. They are willing to pay more for tickets and spend time watching the games at home in order to cheer their team on to a hopefully-not-too-far-away-Stanley Cup championship. The Flyers have done a great job of capturing the love of their fans and creating a strong brand, which brings in about $8 million a year for the team. Fans are not only watching games, but they are buying apparel and other merchandise to represent Philadelphia. The organization does a great job of promoting themselves and getting players involved with the community as well.
Flyers’ fans, like myself, are not about the number of times our captain hoists the Cup (although it doesn’t hurt to have it happen at least once in my lifetime). Instead, we just support the team we love, in good times and bad times. I think I speak for all fans of the black and orange when I say that I’m proud to make the Flyers one of the most valuable teams in the NHL, even without a Stanley Cup championship recently. We love our team, and we can all say we were there for the ride when the Cup finds its way to Philadelphia, the 8th most valuable NHL franchise.
Read more about “The Business of Hockey” here: http://www.forbes.com/nhl-valuations/list/