Common Myths About Who Is the Owner of the NHL
The NHL’s ownership structure is frequently misunderstood, even among casual fans. One persistent myth is that Gary Bettman or the NHL’s headquarters in New York act as the league’s sole proprietors. In reality, Bettman is an employee of the league, not its owner, and his authority is derived from the owners’ collective will. The NHL’s office in Manhattan serves as an administrative hub, but its budget—around $100 million annually—is funded by team fees, not by a central owner. This misconception stems from the league’s centralized branding and media presence, which overshadows the 32 independent franchises that collectively govern hockey. Another widespread belief is that the NHL is owned by a single corporate entity, like Disney or Comcast, which could sell the league outright. The truth is more complex: the NHL is a trust, meaning its assets (logo, trademarks, broadcasting rights) are held in a legal structure that prevents outright sale. Teams can’t be bought and sold like stocks; instead, ownership transfers require NHL approval, and the league’s board (composed of team owners) must ratify any major transaction. This system ensures stability but also creates a closed ecosystem where outsiders—even billionaires—face hurdles to entering the sport. The NHL’s governance model is designed to protect the league’s value, not to serve a single owner’s interests. A third myth suggests that Canadian ownership dominates the NHL, given the league’s origins and the Canadiens’ historic prominence. While Canada remains a hockey powerhouse, the NHL’s ownership is now globally dispersed. Teams like the Golden Knights (Las Vegas), Kings (Los Angeles), and Avalanche (Denver) are owned by American investors, and international figures—such as Jeffrey Kwatinetz (Ottawa Senators), whose family has ties to Israel—have entered the mix. The league’s expansion into markets like China and Europe reflects this shift, but the core ownership group still skews toward North American elites with deep pockets and political connections.Myth 1: The NHL is owned by a single person or corporation
The idea that a lone individual or company controls the NHL persists because of its unified branding and media presence. When fans see the NHL logo on broadcasts or merchandise, it’s easy to assume a single entity is behind it. However, the league operates as a trust, meaning its intellectual property is held collectively by the 32 teams. No single owner can sell the NHL’s trademarks or broadcasting rights without the approval of the other teams. This structure was designed in the 1960s to prevent any one team from gaining too much power, ensuring a level playing field. The closest thing to a "central owner" is the NHL Board of Governors, a group of team owners who meet annually to make decisions on policy, expansion, and financial matters. While this board has significant authority, its power is checkered by the league’s bylaws and the collective bargaining agreement. For example, the board cannot unilaterally change the salary cap without player union approval. This decentralized model means that while the NHL appears cohesive, its operations are negotiated among equals—not dictated by a single owner.Myth 2: The commissioner (Gary Bettman) is the NHL’s owner
Gary Bettman’s role as commissioner is often conflated with ownership, given his three-decade tenure and sweeping authority over the league. However, Bettman is an employee of the NHL, not its owner. His salary—reportedly around $20 million annually—is approved by the Board of Governors, and his contract can be terminated by a two-thirds vote of the owners. Bettman’s power comes from his ability to enforce league policies, resolve disputes, and negotiate broadcast deals, but he answers to the owners, not the other way around. The confusion arises because Bettman’s influence is as vast as that of a CEO in a traditional company. He oversees the NHL’s business operations, including marketing, international growth, and labor relations. Yet his decisions are constrained by the league’s governance structure. For instance, Bettman’s push for a salary cap in 2005 required the approval of both the owners and the players’ union. This dynamic ensures that while Bettman is the public face of the NHL, his authority is derived from the owners’ collective will, not from personal ownership.Myth 3: The NHL is publicly traded like a stock
Unlike companies listed on the New York Stock Exchange, the NHL is not publicly traded. Each of the 32 teams is an independent, privately held entity, and their ownership stakes cannot be bought or sold on an open market. The value of an NHL team is determined by private negotiations, with the league’s approval required for any major transaction. This system protects the league’s integrity but also creates a highly exclusive ownership club, where entry is limited to those who can meet the NHL’s financial and operational standards. The closest comparison is the Green Bay Packers, the NFL’s only publicly owned team. However, even the Packers’ shares are restricted to residents of Wisconsin, and the team’s governance is tightly controlled. The NHL’s model is different: teams are for-profit businesses, but their ownership is tied to the league’s collective success. This means that while an NHL team’s value can fluctuate based on market conditions, the league’s centralized revenue-sharing model ensures that no single team can dominate the sport financially. The result is a stable but opaque ownership structure, where the true "owners" of the NHL are the 32 teams—and the billionaires behind them.What Holds Up to Scrutiny
At its core, the NHL’s ownership structure is a hybrid of corporate autonomy and centralized governance. The league’s non-profit trust status means that while teams operate as independent businesses, they must adhere to rules set by the Board of Governors. This duality ensures that the NHL can maximize revenue (through TV deals, sponsorships, and international growth) while maintaining competitive balance among teams. The answer to who is the owner of the NHL lies in this tension: the league is owned by no one and everyone, a system designed to prevent monopolies while fostering collective growth. The most verifiable aspect of NHL ownership is the Board of Governors, whose members are the team owners. This group meets annually to vote on major decisions, including expansion, rule changes, and financial policies. The board’s influence is unmatched in professional sports, as it controls the league’s direction without interference from external shareholders. For example, the board’s approval was required for the NHL’s 2021 collective bargaining agreement, which reshaped player salaries and league revenue. This centralized authority means that while the NHL lacks a single owner, its policies are shaped by a small group of powerful stakeholders."The NHL is a partnership, not a hierarchy. The owners are equal in theory, but in practice, those with deeper pockets and stronger media ties have more influence." — Former NHL executive (anonymous, 2023)The table below clarifies the most common misconceptions about NHL ownership:
| Common Belief | What the Evidence Says |
|---|---|
| The NHL has one owner. | Ownership is shared among 32 teams, each operating independently under league rules. |
| Gary Bettman owns the NHL. | Bettman is the commissioner, an employee whose authority is derived from the owners. |
| The NHL is publicly traded. | Teams are privately held; ownership transfers require NHL approval. |
| Canadian owners dominate the NHL. | Ownership is global, with American and international investors holding key stakes. |
Why the Confusion Persists
The NHL’s ownership structure remains obscure because it defies traditional corporate models. Unlike the NFL or NBA, where leagues are more centralized, the NHL’s 32-team governance creates a web of interests that’s difficult to untangle. The league’s non-profit status further obscures financial transparency, as revenue and expenses are reported collectively rather than individually. This lack of clarity allows myths to persist, particularly among fans who assume a single entity controls the sport. Another factor is the NHL’s aggressive branding and media strategy. The league markets itself as a unified entity, with a single logo, slogan, and global reach. This cohesive image overshadows the decentralized ownership beneath it. Additionally, the NHL’s closed-door negotiations—such as those behind the salary cap or expansion plans—reinforce the perception of a monolithic ownership structure. In reality, these decisions are the result of consensus-building among owners, not top-down directives from a single figure.
Conclusion
The question who is the owner of the NHL has no simple answer because the league’s governance is designed to prevent single-point control. Instead of a single owner, the NHL is a collaborative ecosystem where 32 teams, their owners, and the Board of Governors share power. This structure ensures stability but also creates an opaque system where influence is often tied to financial strength and political connections. Understanding NHL ownership requires looking beyond the league’s polished public image to the negotiations, votes, and financial deals that shape its future. For fans and analysts, this complexity can be frustrating. The NHL’s lack of a single owner means accountability is diffused, and major decisions—like labor disputes or expansion—are the result of compromise rather than command. Yet this decentralized model has also allowed the league to thrive, with record TV deals, international growth, and a global fanbase. The NHL’s ownership structure is far from perfect, but it reflects a deliberate choice to prioritize collective success over individual control. As the league continues to evolve, the balance between team autonomy and centralized governance will remain a defining feature of hockey’s business.Comprehensive FAQs
Q: Can an outsider buy an NHL team?
Buying an NHL team is extremely difficult for outsiders due to the league’s strict ownership approval process. Potential buyers must meet financial thresholds (typically $500 million+ for a mid-market team) and gain the Board of Governors’ approval. The NHL has blocked several high-profile bids in recent years, including attempts by hedge funds and foreign investors, citing concerns over stability and fanbase loyalty.
Q: Who are the wealthiest NHL team owners?
While exact net worths are rarely disclosed, some of the NHL’s most prominent owners include:
- Dennis and Bruce Cohen (Vancouver Canucks) – Real estate billionaires with a reported combined net worth of over $10 billion.
- Mark Walter (Golden Knights) – Former Goldman Sachs executive and co-owner of the team, with a net worth estimated in the billions.
- Jeffrey Kwatinetz (Ottawa Senators) – Canadian-Israeli businessman whose family has ties to the Diamond Group (worth $1.5+ billion).
- Jerry Buss (Los Angeles Kings, deceased; estate continues ownership) – Former Lakers owner with a legacy worth hundreds of millions in sports assets.
Q: How does the NHL’s ownership structure compare to other leagues?
The NHL’s model is more decentralized than the NFL or NBA, where leagues have greater control over team operations. In the NFL, the league office (led by Roger Goodell) has broader authority, including the power to relocate teams. The NBA’s ownership is also more centralized, with Adam Silver having more direct influence over franchise decisions. The NHL’s trust structure and equal revenue-sharing make it unique, but this also means slower decision-making compared to leagues with stronger central leadership.
Q: Can the NHL be sold as a whole?
No, the NHL cannot be sold as a single entity due to its trust structure. The league’s intellectual property (logo, trademarks, broadcasting rights) is held collectively by the teams, and any sale would require unanimous approval—an unlikely scenario. The closest comparison is the NFL’s attempt to sell its media rights in the 1990s, which also failed due to ownership disputes. The NHL’s governance ensures that no single owner can liquidate the league, protecting its long-term stability.
Q: Who has the most influence in NHL decisions?
The most influential figures in NHL governance are:
- The Board of Governors – The 32 team owners who vote on major policies.
- Gary Bettman – As commissioner, he enforces rules and negotiates deals but must align with owner interests.
- Key owners with media/financial ties – Figures like the Cohen brothers (Canucks) or Mark Walter (Golden Knights) often lead discussions on expansion and digital strategy.
- The NHLPA (Players’ Union) – While not owners, the union’s collective bargaining power ensures player interests are represented in financial decisions.
Q: Why doesn’t the NHL have a single owner like the NFL’s Green Bay Packers?
The NHL’s non-profit trust model was designed in the 1960s to prevent monopolies and ensure competitive balance. The Packers’ public ownership is an exception, allowed because of Wisconsin state law. The NHL’s structure was intended to distribute power evenly among teams, reducing the risk of any single franchise dominating the league. While this system has pros (stability, revenue-sharing), it also creates bureaucratic hurdles for major changes, such as relocations or rule overhauls.
Q: How do NHL owners make money?
NHL team owners profit from multiple revenue streams:
- Local market income – Ticket sales, sponsorships, and arena naming rights (e.g., the Scotiabank Arena in Toronto generates $50M+ annually for the Maple Leafs).
- League-wide revenue – TV deals (NHL’s $2.4 billion annual media rights agreement), merchandise sales, and international broadcasts.
- Player salaries – While capped, star players (like Connor McDavid or Auston Matthews) can earn $15M+ per year, boosting team valuations.
- Expansion fees – New teams (like Seattle or Las Vegas) pay $650M+ to join, creating windfalls for existing owners.
