from Eric Duhatschek of the Globe and Mail,

So there was Parise wondering to the Minneapolis Tribune’s Mike Russo, why Bettman would “brag” endlessly about the $3.3-billion (all currency U.S.) in revenues that the NHL generated last year, and then turn around and ask the players to take a smaller share of the overall pie in the current round of collective bargaining negotiations.

Well, here’s the thing.

Revenues may have risen steadily under the last CBA, but it doesn’t change the fact that half the teams in the league are operating in the red, and some would likely fold if free-market principles were ever applied to the overall NHL model.

The Phoenix Coyotes are a well-publicized black hole, but there are other teams operating in the lower 49 that would be sunk without the $3- to $8-million in annual revenue-sharing subsidies that they received under the old agreement.

It would have been far better off if Bettman had been more open about the warts in the business in the 12-to-24 months leading up to the lockout, rather than constantly glossing over the problem areas.

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