The dark years for the Flames pre-dated the salary cap. I believe after the cup run, the Flames have sold out every game. Calgary (and all Canadian teams) are able to spend right up to the cap because their teams are profitable. The strengthened Canadian dollar helps. Teams like Phoenix, Nashville, Atlanta would be in much more trouble if it weren't for a salary cap.
It would be much easier to argue the opposite way. Your thesis does not agree with the historical facts.
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