Other than sentimental feelings for the players getting drafted, what actual value is there for 32 teams lugging their operations across the continent? If you actually think about the logistics, that's a lot of work. Less cost for the league and it's not like the NBA/NFL drafts are not spectacles....they are much so than the NHL. There's just no need for the teams and their staffs to actually be there.
Honestly- if I was the actual player, it would be a lot less stressful with just being able to hang out with my fellow drafted players.
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