By Chris Kuc
The Blackhawks' rise to prominence on the ice is being followed by a meteoric rise financially, too.
Forbes Magazine is reporting that the value of the team rose by 26 percent to $258 million in 2008-09, which ranks seventh in the National Hockey League.
"I never thought it would be this quickly," Blackhawks chairman Rocky Wirtz told the Tribune today regarding the turnaround of the franchise's financial fortunes since he took over Oct. 5, 2007.
The Blackhawks' rise to prominence on the ice is being followed by a meteoric rise financially, too.
Forbes Magazine is reporting that the value of the team rose by 26 percent to $258 million in 2008-09, which ranks seventh in the National Hockey League.
"I never thought it would be this quickly," Blackhawks chairman Rocky Wirtz told the Tribune today regarding the turnaround of the franchise's financial fortunes since he took over Oct. 5, 2007.
"It was a nice thing to have and ultimately it's a private business,
but my job as representative of the family is to increase the value of
our assets. It's nice to have a third party saying those assets are
more now than they were a year ago and two years ago."
The Hawks were 14th in the league in the 2007-2008 season with a value $205 million. Wirtz said it took a simple approach to turn things around.
"It's kind of getting back to basics," Wirtz said. "It's listening to your fans and having them feel they're a part of this team. It sounds corny, but essentially we don't own the team, the fans own the team and we just rent it to them on a nightly business. They need to feel that and believe the organization is trying its hardest to win the Stanley Cup."
The NHL had its most profitable year in 2008-2009, Forbes said, with team values rising $3 million to an average of $223 million.
All of the Original Six teams ranked among the top seven most valuable of the NHL's 30 teams with the most valuable franchise being the Toronto Maple Leafs with an estimated rise in value of 5 percent to $470 million.
As for the Hawks continuing to grow financially and reaching the top as a most valued franchise, Wirtz said one thing would be paramount.
"I think that (Stanley) Cup would look pretty good at center ice," Wirtz said. "It would help a lot."
The Hawks were 14th in the league in the 2007-2008 season with a value $205 million. Wirtz said it took a simple approach to turn things around.
"It's kind of getting back to basics," Wirtz said. "It's listening to your fans and having them feel they're a part of this team. It sounds corny, but essentially we don't own the team, the fans own the team and we just rent it to them on a nightly business. They need to feel that and believe the organization is trying its hardest to win the Stanley Cup."
The NHL had its most profitable year in 2008-2009, Forbes said, with team values rising $3 million to an average of $223 million.
All of the Original Six teams ranked among the top seven most valuable of the NHL's 30 teams with the most valuable franchise being the Toronto Maple Leafs with an estimated rise in value of 5 percent to $470 million.
As for the Hawks continuing to grow financially and reaching the top as a most valued franchise, Wirtz said one thing would be paramount.
"I think that (Stanley) Cup would look pretty good at center ice," Wirtz said. "It would help a lot."
All Bears news delivered to your mailbox on Friday and Monday mornings. 
When sports news breaks, be the first to know. (To get alerts on a mobile device, text CHISPORTS to 31286.). 
Get our updates on 
Leave a comment