The Edmonton Oilers play in one of the smallest markets for pro sports in North America, and the Canadian dollar is currently worth $0.73, a tick above the 20-year lows of $0.68 briefly hit in February. The combo would normally be a recipe for disaster when it comes to revenue.
Not in Edmonton.
The city’s Stanley Cup Final games against the Florida Panthers are projected to generate more ticket revenue than any other games in NHL history, according to someone familiar with the league’s ticket reporting. Final accounting will be completed after the playoffs, but each Edmonton home game during the Finals should generate in the neighborhood of $15 million in gross ticket revenue.
The Oilers’ playoff run last year included 12 home games and produced more than $120 million in gross revenue, including concessions and merchandise. The NHL collects 35% of playoff ticket revenue, which funds the playoff pool for players and other initiatives.
NHL teams typically raise ticket prices significantly during the playoffs, as demand soars the further a team goes. The Oilers raised prices for the first round, with tickets in the lower bowl ranging from $237 to $355 based on current exchange rates (CA$325 to CA$486). Club seats topped out at $511. Second-round prices increased another 25% across the board, with the conference finals up roughly 75% from the first round. Pricing then skyrockets for Stanley Cup games, which are up 200% from the opening round.
The percentage increases are even bigger for the cheapest seats in the upper bowl, which ranged from $85 to $196 for the first round. Those seats are $277 and $594 for the Stanley Cup Final games.
Despite the small market, the Oilers have typically been a top-five NHL team for gate receipts in recent years. It is a function of the passion of Oilers fans, plus the opening of Rogers Place in 2016 and significantly more premium seating options than what existed at the 42-year-old Rexall Place.
The Oilers have become one of the NHL’s most valuable teams thanks to Rogers Place, the on-ice success led by Connor McDavid and Leon Draisaitl, and the mixed-use development outside Rogers, the Ice District. In October, the club ranked seventh in Sportico’s NHL team valuations at $2.4 billion.
Game 1 of Oilers-Panthers, a rematch of last year’s Stanley Cup Final won by Florida, went to overtime Wednesday night, with Edmonton winning 4-3.