What are you talking about? The blues are almost at 97% capacity and probably have a solid 14k season ticket base (during a rough stretch of playoff-less hockey i might add) which would be the envy of nearly all small-mid market US teams. Investors have probably seen their asset grow 5,000% for those who got in at the ground floor. This is probably the most financially healthy the Blues have ever been.
You could buy tickets to the home opener from the team (not re-sale tickets) on the week and the day of the game. I don't know whether that game eventually sold out, but if so it was barely.
There were tickets available from the team on the day of a Saturday night game against the Maple Leafs. Two or three years ago I sold tickets to a Blues/Leafs game for 4 times the price of my season ticket cost. This year there were below face-value tickets available all week before the game. I sat next to two empty seats that either went unsold or unused.
These are premium nights that the team is struggling to sell out. In the past, those games were selling out quick.
To boost sales, the team brought back mini plans and are offering free tickets when you buy one. They started their "hat trick" subscription selling tickets for below face value on games that aren't selling well. They are offering pro-rated season tickets.
They absolutely don't have 14k season ticket holders. That was the number they capped season tickets at when they had a wait list after the Cup win. The waitlist is long gone and as a former season ticket holder I'm getting a call or email almost weekly asking if I'm interested in a prorated package. There is no way they are at season ticket capacity.
There are noticeable pockets of empty seats every night. Not selling tickets and/or having season ticket holders not go (and be unable offload their tickets) means that there are less people in the building spending money.
As I said, I'm not concerned about the team relocating. And while I didn't explicitly say it, I'm not remotely concerned about the long term financial health of the franchise. This isn't a disaster and valuation has
absolutely increased. Being an owner of the team has been a fantastic investment and there were certainly several years of (likely large) profit that the owners were able to pocket.
But they aren't going to turn a profit this year and millionaires and billionaires don't like having to pump money into the business to cover payroll. Even if they had pocketed profits in previous years and are seeing their investment value grow. When on ice results aren't there and revenue decreases, basically every owner in sports prefers to cut payroll. We have a really good owner who is willing to pay real dollars to help the on-ice product, but he (and the rest of the group) would obviously like to limit expenses when there is little/no tangible benefit for paying those expenses.
We have the 3rd highest salary payroll in the league. Our attendance total per game is middle of the pack and our average cost of attendance is below the middle of the pack. Barring a sharp improvement in the team, it is going to become harder to sell tickets and get people in the building as the season wears on.
The balance sheet is going to be negative this year. Shaving payroll by not having to pay an AHL player another $800k is a good thing. I'm not sure it completely outweighs the potential benefit of having him available for injury relief down the line, but I guarantee you ownership isn't upset about their losses decreasing by $800k or so.