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Originally Posted by Hot_Flatus
Someone with more accounting knowledge would be better to speak to this, but much of the 'operating income' can be made to look however you want it to look with a good accounting team for tax purposes depending on how you handle your financials.
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The CBA has very strict reporting requirements for HRR. That forces accounting to be pretty well standardized across the league.
Earnings in the NHL, as reported by Forbes over many years, pretty closely follow a Pareto distribution, with 20% of the teams making 80% of the profit. At last report, Covid notwithstanding, the Original Six teams plus L.A. were highly profitable; a big tranche of smaller-market teams (including Calgary) were operating at break-even or a little better, depending on playoff performance; and about ten teams at the bottom were losing money. Half of the reported profits were earned by just three teams – Toronto, Montreal, and the Rangers.