http://www.forbes.com/forbes/2011/0509/focus-kroenke-sports-billionaire-real-estate-silent-stan.html
Denver's Nuggets and Avalanche have reached the finals only once between them (in 2001 when the Avalanche won the Stanley Cup) while Kroenke has owned them. Yet today FORBES reckons the two teams combined are worth $514 million, an unusually rich valuation for a small market. A big reason: They generate over $25 million a year in premium seating revenue. Contrast that with stand-alone hockey teams (New York Islanders, St. Louis Blues) or basketball teams (Sacramento Kings, Minnesota Timberwolves). All are seeking investors or new homes because they lack the stadium revenue Kroenke's two teams yield.
The Blues ranked 8th in attendance and are yet again looking for new ownership. The Nuggets ranked 16th in attendance, and the NHL Avalanche ranked 24th in their leagues. Scottrade Center needs another tenant, its too big of an arena when considering yearly costs/upkeep. When you sell luxury box suites for the year that includes every event at the venue. An NBA team would only help sell more luxury suites and split costs. The Blues lost money while their fans enjoyed some of the lowest ticket prices in the league. Visiting teams get a percentage of ticket revenue, the real money is in luxury suites/premium seating.
Let's look at the Blues http://en.wikipedia.org/wiki/St_Louis_Blues
- '67 - Sidney Salomon Jr. - establishes the Blues
- '76 - citing financial hardship sold to Ralston Purina (pet food company)
- '83 - losing 1.8M a year - sold to Saskatoon ownership
- '84 - NHL takes over ownership, saves Blues from relocation
- '84 - Harry Ornest takes ownership - Ornest ran the Blues on a shoestring budget
- '87 - sold to a group led by Michael Shanahan
- '94 - Kiel Center Partners - a consortium of 19 companies buy the Blues
- '94 - KCP - Scottrade Center is built to replace Kiel Auditorium
- '99 - Bill Laurie buys the Blues and Scottrade Center
- '06 - Dave Checketts buys the Blues and Scottrade Center
- '06 - Billikens build and move into Chaifetz Arena
- '10 - Blues are put up, and continue to be, for sale
no solid ownership = no stanley cups
no additional tenants = losing money
losing money = no solid ownership
