The Vegas Golden Knights story is incredible.
In 2015, there were no professional sports teams in Las Vegas — and ice hockey seemed like the least logical choice because there were only 1,400 registered hockey players in the entire state of Nevada.
But Bill Foley and his ownership group did something really smart.
They went out and pre-sold 15,000 season ticket packages without any guarantee they would get a team.
This meant their 17,500-seat arena would be more than 85% full years before a puck would even be dropped.
And the NHL took notice, awarding Las Vegas the NHL's 31st franchise via a 30-0 vote by owners.
The team has since made the playoffs in five of their first six seasons, including two Stanley Cup Finals appearances and one Stanley Cup Championship.
And this on-ice success has led to financial success.
The Golden Knights have averaged 103% capacity at home games over the last 6 years.
They are already doing $200 million in annual revenue.
And the team brought in $64 million in operating income last year, which was more than the Boston Bruins, Philadelphia Flyers, and Washington Capitals.
Vegas Golden Knights Breakdown (2022)
• Revenue: $198 million
• Operating income: $64 million
• Avg. attendance: 18,024 (17,500-seat arena)
And with NHL teams allowed to keep 65% of all playoff ticket revenue, the Golden Knights have seen their valuation increase from $500 million in 2017 to $1 billion today.
Vegas Golden Knights Valuation (Forbes)
• 2017: $500 million
• 2018: $575 million
• 2019: $580 million
• 2020: $570 million
• 2021: $710 million
• 2022: $965 million
• 2023: ~$1 billion-plus
But more importantly, the Golden Knights have helped turn Las Vegas into one of the world's preeminent sports destinations.
The city has since attracted NFL, MLB, and WNBA franchises. And they have secured several high-profile events, from the NFL Draft and Super Bowl to a Formula 1 Grand Prix and a men’s Final Four.
And the success of the Vegas Golden Knights certainly had a lot to do with that.
Ps. This is an excerpt from my recent podcast about the Vegas Golden Knights path from expansion team to Stanley Cup Champions.
You can access the full breakdown using the links below (and you should subscribe so you don't miss any going forward!).
Apple: https://t.co/priSwVcnnb
Spotify: https://t.co/bO6om6AZOM
Dear @FlaPanthers fans, I hope you enjoy your stay here. Let me know if you’d like any recommendations for places to eat and things to do. I appreciate your patronage.
After going to Game 1 in Vegas, I have to say Vegas has some of the nicest fans I’ve ever met. People went out of their way to ask if we were enjoying ourselves & were super hospitable. As a Panthers fan I can’t speak higher of a fan base than Vegas after the way we were treated
Early morning airport interaction
Guy in elevator: so where are you heading?
Me (totally serious): ticketing and gates
Guy in elevator : *puzzled look*
Rachel (trying to salvage the interaction): Kansas City
Also, Dean Spanos - I hope you’re watching this and regretting your stupid decision to move the @chargers. San Diego is such a vibe and you left it to be a tenant.