THE BUSINESS OF HOCKEY
BRIGADE HK
Team Value
$1.12 B
Team value, as calculated by
in December 2023
At a Glance
Owner:
Championships:
Price Paid:
Year Purchased:
Revenue:
Operating Income:
Banners:
Jersey Retirements:
Player Trophies:
GM of the Year Awards:
Attendance to Capacity:
0
$100 M
2008
$244.56 M
$95.51 M
1
3
1
0
98.0%
2021
Write up to come
2020
Orillia has not warmed to hockey in recent years, as Brigade HK has struggled to put fans in the seats. Last season, the HK once again ranked near the bottom of the NHFL in attendance, with an average of just around 17,500 fans per game. Without a single major sponsorship partner, and yet to host a major league event, the HK has struggled in gaining a foothold amongst the less rabid fans as their brand visibility wanes towards invisibility when the on-ice product fails to turn in a playoff-worthy performance - as they have the last two seasons since their Cinderella trip to the 2018 Fifty Mission Cup finals.
While the franchise was able to see a modest valuation gain in 2020 (1.5%), it could have been larger had the arena revenue picture for the team been less murky. Despite the Paragon Arena being one of the most stunning buildings in the NHFL, the lack of corporate exposure, dearth of in-house promotions and the poor on-ice performance has resulted in the team needing one of the lowest average ticket prices in the NHL with a limited corporate base to tap.
2019
Fantasy hockey fans in Orillia, Ontario had a rough 2019. After seeing their beloved Brigade HK fall just short of their first title in the 2018 Fifty Mission Cup playoffs, the franchises on-ice product has struggled to remain competitive. This struggle has been reflected in gate receipts at the Paragon Arena, with total attendance numbers in a steady decline, week over week, throughout 2019. Brigade HK experienced a franchise-low number of fans attending Brigade HK games over the past year.
The news isn't all bad, because despite the struggling attendance figures, Brigade HK actually saw the second biggest value increase by percentage in the NHFL (23.74%, behind only Johnny Beamsville), and the third biggest increase in total dollars ($120 million, trailing Johnny Beamsville and defending Fifty Mission Cup champion Beaver Squeezers). While the franchises operating income fell short of target and remained on par with 2018 levels, the franchie was able to boost total revenue by over 13.5%: among the league leaders in 2019.
Overall, Brigade HK's 11th place rank among NHFL franchises in total value is still driven by a number of hurdles that were identified in this space last year that the franchise has yet to be overcome: team success at the highest level, individual player success at the highest level, and an increased level of engagement and outreach within the NHFL community.
2018
Brigade HK reached their second Fifty Mission Cup final in 2018, losing to the Ancaster Villagers. The bump that NHFL teams experience as a result of a lengthy playoff run has been offset by a roster that has struggled to perform in the second half of 2018. Attendance has stagnated, sliding from a high of just north of 102% of capacity, back down to below the 100% sell-out threshold, to the 97% range that Brigade HK spent the majority of 2017-18 at. Still lacking any major sponsorships, Brigade HK has needed to focus on pushing merchandise and concessions in order to keep up their revenue stream with their NHFL counterparts.
The $160.3 million in revenue that the franchise pulled in represented a 6.43% increase over 2017. However, this total still ranked near the bottom of the league - ahead of only the expansion Johnny Beamsville. Brigade HK's operating income did fare better in relation to their NHFL counterparts - ranking 7th overall - but still finished in the bottom half of all franchises, and below the league average of just over $64 million.
While a ten-year Fifty Mission Cup drought increases the difficulty level in keeping fans engaged, the franchise hasn't helped its cause by being only one of two teams that can't claim to:
- have won a major player-award;
- have hosted a draft, or league special event;
- have contributed to the Managers' Tribune, or;
- have been crowed GM of the Year.
2017
Brigade HK became a hot ticket in 2009 as soon as they reached the Fifty Mission Cup Finals where they were beaten in a tight matchup by the defending Champion G.O.A.T. franchise. Brigade then sold out all of their regular-season home games for the first time in franchise history. Recent struggles have seen attendance dip at the Paragon Arena, as Brigade slipped to only 95.7 percent capacity in 2017. As the Paragon Arena gains a foothold with the local fan base, and as current superstars Steven Stamkos, Vladimir Tarasenko and John Tavares continue to blossom, expect the league-low revenue gained in 2017 to grow. Currently lacking any major sponsorships, Brigade HK has needed to focus on pushing merchandise and concessions in order to keep up their revenue stream with their NHFL counterparts.