Winnipeg Jets' Neal Pionk (4) defends as Toronto Maple Leafs' Ryan Reaves (75) scores on goaltender Connor Hellebuyck (37) during first period NHL action in Winnipeg on Saturday, January 27, 2024. THE CANADIAN PRESS/John Woods
The company that owns the Winnipeg Jets says it's never lost money since the NHL returned to Winnipeg in 2011, not even during a recent downturn in ticket sales at Canada Life Centre.The Winnipeg Jets play in the NHL's smallest market and saw a recent decline in home ticket sales — but the company that owns the Jets says it's never lost money since the team relocated from Atlanta to Manitoba in 2011.
While ticket sales for the Jets, Manitoba Moose, concerts and other events at Canada Life Centre make up the most important revenue source for True North, merchandising, broadcast rights and other revenue streams keep the company in the black, he said.So does revenue-sharing within the NHL, as well as the league-mandated salary cap that limits team spending on the rosters to $83.5 million this year.
True North is also eligible to receive revenue from 140 gaming machines at the Shark Club inside Cityplace mall, under a provincial funding deal created by the former Greg Selinger NDP government to help True North survive future economic challenges. "We've almost invested as much in renovations as we have building it," he said, referring to a $133.5-million construction project conducted in 2003 and 2004.
Nonetheless, Chipman's comments about reinvesting profits are significant, considering skepticism exists about True North among elements of the Winnipeg Jets' fanbase. Instead of trading all three star players for draft picks, Cheveldayoff traded Dubois to Los Angeles for Gabriel Vilardi, Alex Iafallo and Rasmus Kapuri, adding more depth to the Jets' lineup as a result. Scheifele and Hellebuyck signed long-term contracts.
"For the longest time, they kept Bergeron and Marchand and on and on. They kept their core," he said."Our singular purpose is to try and win. I wouldn't have got into this business if I didn't think that was achievable," he said.
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