Hurricanes Look For Long-Term Business Growth From Playoff Run
The financial returns from the Hurricanes' first playoff appearance in 10 years will take some time to calculate, but team President & GM Don Waddell said that they "might not be all that consequential anyway," according to a front-page piece by Andrew Carter of the Raleigh NEWS & OBSERVER. This is because the "majority of first-round playoff revenue goes to the NHL and not individual franchises." Hurricanes execs are "less interested in what the team's recent success means to the current bottom line compared to what it might mean years from now." Waddell said, "The driver is for us to create the excitement of building your season ticket sale base for next year." Five years ago, Waddell said that the team's' season-ticket holder base "amounted to 5,200." This season, it was approximately 7,400. Last year, Waddell said that the team "generated about $400,000 in 'new' ticket revenue for next season." Now, he said that the Hurricanes have "already generated" $2M in new ticket revenue. Carter notes under the leadership of Owner Tom Dundon, the Hurricanes have "tried to build a culture of showmanship and entertainment." Dundon said what drives the success of any franchise "can't just be winning." Dundon: "If winning is your only plan, then you're only going to be halfway successful." He added that the team has "much work to do in the areas of corporate sponsorships, ticket sales and suite sales." He said, "Our revenues are below other NHL teams. And given that, what you'd like to do is at least be average, maybe slightly above" (Raleigh NEWS & OBSERVER, 4/23).