I'd like to see the balance sheets too. Just some simple post it note math tells me that if most teams are spending to the around the cap of approximately $60 million, then player salaries league wide would come to about $1.8 billion. If the NHL took in close to $3 billion in revenue last year, then they'd be sinking 60% of revenue into player salaries. Now, I'm not sure what the average percentage of revenue labor costs account for in most industries (wasn't easily found by a Google search), but 60% seems pretty high to me. Especially when you consider that that's only PLAYER labor costs, and doesn't factor in salaries of all other staff, like management, coaches, trainers, janitorial staff, retail employees, etc. Then of course, you have the cost of buying equipment, the maintaining of facilities (refrigeration and humidity control no doubt being a major expense in this sport). There's also advertising and plenty of other expenses that I'm sure I'm missing here.

It's just hard for me to see how running an NHL team could be profitable (or even could cover costs) for 30 different businesses operating in that financial atmosphere.