Ticket prices are definitely a factor, especially with a weak local economy. I think the Flames and the NHL in general have taken it for granted that there is a guaranteed next generation of fans that can afford the ever increasing cost of being a fan.
A quick google and I found a ticket stub for the 1989 Game 5 game against Montreal in the Stanley Cup finals. Section C (which I believe would be somewhere in the 100s), row 12, seat 18 for $32.50. Adjusted for inflation that is $57.48.
For a regular season game this Saturday against Washington, the Flames are trying to sell a ticket in Section 106. Row 12. Seat 11 for $190.25.
Since Bettman has been the league, it has grown from total revenues of $400 million among 26 teams to $4.54 billion among 31 teams. Adjusted for inflation that works out to:
1993-1994: $27.19 million / team
2017-2018: $146.5 million / team
That revenue increase is entirely paid for by fans and to some extent, taxpayers subsidizing new arenas. The Flames and the NHL have done what ever business should do. They have maximized revenue. But they have may have lost the long term fanbase in the process.
Look around at the NHL and pro sports in general. Calgary isn't a unique situation. I think we have reached peak pro sports revenues, or very close to it across North America. Fans only have so much money to spend on entertainment.
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