But you have CSA rank 2 as both the 4th and 25th most valuable NHL franchises. That's both ends of the spectrum.
Well, I've made that argument for two decades: That having clubs 2, 15, 29 in revenue in the same New York market before UBS opens essentially proves that financial status is NOT MARKET, it's circumstance.
Had one person essentially say, paraphrasing: "In hockey, market size doesn't guarantee success."
Had another respond with, we'll politely call them alternate statistics, paraphrasing: "Here's market ranks that prove that in hockey, market size guarantees success."
One assumed you could see 9 out of 10 and understand an overall general trend, and the difference between "generally speaking" and "with occasional exceptions"...
I think the original statement is true but have to caveat this applies in US.
Canada is exception. Cities size of Calgary and Edmonton can't support NFL, MLB or NBA team, usually.
The key part to me though is understanding WHY there an exception. Why is Edmonton valued so highly while being small and why are bigger markets so low?
Because when you look at say baseball's list of top 10 most valuable, it's 9 for 9, and then one outlier as well: St. Louis. St. Louis went about 70 years being the furthest West and South team, has a long tradition of being really good (second all-time in Championships) and has a loyal fan base that runs generations deep. While big market Miami and Phoenix don't have generations of fans because they're the newest franchises. (Same with TB and DEN, who are also smaller markets than MIA/PHX).
In football, the outlier is Las Vegas, who's got support of deeeeeeeep pockets from the uber rich casino industry (sponsors), high roller fans, one of the best brands there is, support from basically three markets of fans who've loved the Raiders. How many LA fans feel like the Raiders are their team more than the Rams or Chargers?
And the NBA has literally no outliers. Toronto is the smallest market in the Top 10, while the next three are also the bigger markets: PHX, MIA, Brooklyn (who's in the biggest CSA but has always catered to a minority section of the market, whether that be Long Island, New Jersey or Brooklyn).
So why is it like that in hockey? Well for one, Edmonton has a new incredible arena, increasing their value, while Anaheim has a 31 year old arena and Phoenix has no arena. Edmonton has an extra generation of fans from being a franchise born 20 years earlier than the Ducks/Coyotes. And Edmonton has the best player in hockey -- for the second time in their history.
Hockey is different from the other sports simply because hockey was the smallest league that didn't start creating fans in half the bigger markets until the 1990s, and it just takes time to have generations of fans.
That's not a reason to never go to Quebec -- again, I'm very much in favor of Quebec -- but if all other things are equal, the bigger city is gonna be a richer team, simply because there's more people providing dollars instead of the same people providing dollars over and over again.