An NHL franchise that can't pay its proprionate share of salaries is grossly undercapitalized, and that would be a very big problem.
This is exactly what I was talking about that led us to this convo: What you wrote is 100% NOT the case, and it has nothing to do with who teams are and how healthy/unhealthy they are.
It's how the system is set up, being based on the average. You need the same amount of teams and dollars on both sides of the average, and grow their revenues at the same rates year after year, or someone falls behind.
Doesn't matter who they are, or how robust business is.
Say it's a 4-team league of TOR, MON, VAN, CAL. And demand is 100% of everyone's population. Because there's 6 million people in Toronto, and substantially less in Calgary, Toronto can charge more and more and more for tickets, grow their revenue more and more and more; which raises the revenues more and more; and Calgary falls further behind and can't keep up.
In this scenario, Calgary isn't the problem: The model is creating a problem in Calgary.