NHL Commissioner Gary Bettman speaks to the media prior to a game between the Toronto Maple Leafs and the Montreal Canadiens at Scotiabank Arena on Wednesday in Toronto.Chris Tanouye/Getty Images
Twenty-four hours after watching the Florida Panthers kick off the new National Hockey League season by hanging their second Stanley Cup banner, commissioner Gary Bettman arrived in Toronto on Wednesday in buoyant mood.
Given the recent Sportico study that determined that the average NHL team is worth US$2.1-billion, topped by the Maple Leafs at US$4.25-billion, it was hardly surprising. “Still undervalued in my opinion,” Bettman chimed in when the subject was brought up in a media conference before the Maple Leafs faced off against the Montreal Canadiens.
The commissioner also weighed in on the big NHL news of the week, with Edmonton Oilers captain Connor McDavid signing a two-year extension at just US$12.5-million per year, the same amount as he has been making for the past seven years, and well below the new ceiling of US$17-million per year established by Minnesota Wild winger Kirill Kaprizov last month.
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While Bettman said it’s still a lot of money, he added that “it’s a testament to Connor’s passion for the game and his commitment to Edmonton.”
“I think that in the final analysis, that speaks so well as to a superstar viewing his role in the game and his personal values,” Bettman said. “So he should be commended.”
It remains to be seen whether McDavid and the Oilers – or any of the other six Canadian NHL franchises – are able to bring the Stanley Cup back to Canada for the first time since the Canadiens won it in 1993. But while that ongoing drought may be a source of angst in this country, it’s not something that causes any sleepless nights at NHL headquarters in New York.
“I love all my children equally, all my grandchildren equally,” Bettman said diplomatically. “I love all my teams equally. You know what the beauty of our competitive balance is, anything can happen.”
Connor McDavid's two-year, US$25-million extension saves his team money, giving it flexibility for future moves. NHL commissioner Gary Bettman praised the superstar's team-first mentality in signing the deal.Steph Chambers/Getty Images
While McDavid may have chosen to put his Stanley Cup aspirations before continued financial gain, the increase in salary cap will lend all 32 franchises greater manoeuvrability. The cap has gone up this year from US$88-million to US$95.5-million, with further projections extending to US$104-million next season and US$113.5-million the season after that.
That growth may look rapid and sudden, but the commissioner said it has actually been a very deliberate plan as that cap rises in relation to how revenues increase. He explained that the NHL is now catching up following the three years of a flat cap as the league tried to recoup losses that were incurred during the pandemic.
“We didn’t want it to happen all at once, because that would have skewed salaries and been, if you will, fortuitous and may be [unfair] for the players who happened to be free agents when that happened,” he said.
As for his own future, the 73-year-old – who has been running the NHL since 1992 – said he has no plans to step aside any time soon, citing success with the 4 Nations tournament, a new media deal with Rogers and a new collective agreement.
“I’m focused on doing my job. I love it,” he said. “I get to go to hockey games as part of my job. It’s awesome.”
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