NHL lockout could hurt the economy in the Detroit-area - Dallas News | myFOXdfw.com

NHL lockout could hurt the economy in the Detroit-area

Posted: Updated:
University of Detroit Mercy Professor Mike Bernacchi  (Credit: myFOXDetroit.com) University of Detroit Mercy Professor Mike Bernacchi (Credit: myFOXDetroit.com)
DETROIT (myFOXDetroit.com) -

There's a chance the Detroit Red Wings won't play hockey this season. The NHL appears headed for a lockout. With no further meetings scheduled before Saturday's midnight deadline, the two sides are still very far apart. So, what could a lockout mean for Hockeytown?

If a lockout happens, our local economy could be hit hard, costing it more than a million dollars.

However, NHL hockey in general across the country isn't doing as well as it does in Detroit. There are 30 teams in the NHL. Forbes magazine says 18 of them are losing money.

Dr. Mike Bernacchi, a marketing professor at the University of Detroit Mercy, broke down the major leagues as follows. In the NFL, the average team value is $1.1 billion. In Major League Baseball, the average team is worth $600 million.

The average team value in the NBA is $300 million and the NHL comes in last at $240 million.

While the National Hockey League's profits are far from ice melting, Detroit does have an edge. The top grossing teams in this order are Toronto, New York, Montreal, Detroit, Boston and then finally Chicago.

Outside of those teams, experts say the National Hockey League needs to change from the cost for fans at the stadium to the lack of interest in some markets. Think of it like some of the big companies that had to become smaller and smarter. Bernacchi said it's the NHL's turn.

"When you take a look at what teams do the best in terms of team evaluations, guess what? The six teams that do the best are the original six teams. So maybe we should make that slice right there."

"Lockout affects business because people are not going to be coming downtown. There's no game to come to, so what's the point for them to drive downtown," said Grace Keros from American Coney Island. "Downtown is busy when there (are) events. Anytime there's an event, this city is bustling. It's beautiful, but if there's not a Red Wing game to go to, they won't be down here."

Detroit would be hit hard from game day sales, vendors at the game, parties at home and pizza sales. You had better believe Mike Illitch, who runs both the Red Wings and Little Caesars, will be feeling the hit. In marketing, one of the best things they like to do is pair pizza with is hockey.

  • Local NewsLocal NewsMore>>

  • Trench collapse in Pittsfield Township

    Trench collapse in Pittsfield Township

    Wednesday, July 30 2014 5:24 PM EDT2014-07-30 21:24:07 GMT
    Emergency crews are at the scene of an apparent trench collapse in Pittsfield Township.
    Emergency crews are at the scene of an apparent trench collapse in Pittsfield Township.
  • Two in custody after search connected to Armada teen's murder

    Two in custody after search connected to Armada teen's murder

    Wednesday, July 30 2014 5:22 PM EDT2014-07-30 21:22:13 GMT
    The FBI and state police were at a home on Marquette Road in Goodells, Mich. most of Wednesday executing an investigative search warrant related to the murder of 14-year-old April Millsap.
    The FBI and state police were at a home on Marquette Road in Goodells, Mich. most of Wednesday executing an investigative search warrant related to the murder of 14-year-old April Millsap.
  • Reward offered for info on who killed father of six in his driveway

    Reward offered for info on who killed father of six in his driveway

    Wednesday, July 30 2014 5:16 PM EDT2014-07-30 21:16:49 GMT
    A Detroit businessman and father of six, is gunned down in front of his own home.Tonight, his grieving family is demanding justice for Jacob Fry-Hooper, who was murdered in June.He was heading home from his brother's house on the night he was killed.Hooper had just pulled into his driveway. But as he was getting out of the car, someone fired several shots, killing him.Crime Stoppers is offering a $2,500 reward for tips that can lead to an arrest. To help, call 1-800-SPEAK-UP. Tipsters can rem...
    A Detroit businessman and father of six, is gunned down in front of his own home.Tonight, his grieving family is demanding justice for Jacob Fry-Hooper, who was murdered in June.He was heading home from his brother's house on the night he was killed.Hooper had just pulled into his driveway. But as he was getting out of the car, someone fired several shots, killing him.Crime Stoppers is offering a $2,500 reward for tips that can lead to an arrest. To help, call 1-800-SPEAK-UP. Tipsters can rem...
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices