As hockey season fast approaches and training camps scheduled to open in a few weeks. There is a brief international tournament going on during the time of training camp called the World Cup of Hockey. Just like the World Cup for soccer it’s where there are multiple countries competing to be crowned champion after playing in a pool style tournament. Though it’s interesting, is the World Cup of Hockey worth the squeeze? What I mean by “squeeze” is, how much money is going to be generated by an event that has been ghost for the past decade?
According to USA Today, in the last World Cup which took place in 2004 the revenue generated was less than $34 Million while the one in 1996 was less than $20 million. Looking at those stats and data I wouldn’t expect the World Cup being brought back. But this year the World Cup is expected to generate up to $120 Million with tv deals (ESPN and Rogers Communications) and corporate sponsorships which include the unveiling of a sponsor patch.
Though the NHL isn’t the first to place a sponsorship patch on a jersey/sweater, the first being the hapless 76ers having a StubHub patch on their jerseys but they are the first to have a patch on all sweaters of competing teams. The World Cup sweaters are going to have SAP patches on the shoulder of the sweater. According to the Sports Daily Business, the NHL declined to disclose any financial details on the sponsorship deals.
Though with the figure of $120 Million reportedly being generated there is going to be a huge profit for both the NHL and NHLPA. Before the two groups see that money there has to be money spent to host the event and $10 to $15 million of that cost go to player’s insurance. It is estimated the NHL and NHLPA will split about $60 million. From the split money, Rocky Wirtz and other team owners should receive about a $1 million payday for the event according to TSN.
With this kind of money being generated by the event I can see the World Cup coming back as the game is most likely going to grow since the games are being televised by ESPN which is the leading sports entertainment platform in the US.