In a bid to increase revenues from the NHL, the league has announced that it is introducing a series of new arenas that are expected to be more expensive to build than the NBA’s new Madison Square Garden.
The new arenas will include arenas for the NHL’s top six teams, the New York Rangers, Toronto Maple Leafs, Washington Capitals, Chicago Blackhawks and Edmonton Oilers.
The NHL is also adding five new outdoor arenas to the league’s outdoor schedule that will open for games in 2019.
While the NHL has a long track record of producing some of the most expensive arenas in the world, the average cost of a new arena has been steadily increasing over the past decade.
Last year, the NHL set a record for the most arenas the league had ever built at $4.9 billion.
That figure was $1.3 billion more than the average price of a newly built arena in the U.S. The league is also expected to have a record $3.6 billion for the 2019-20 season, a record that it broke last year.
The NFL is set to break its own record with $3 billion for its 2019-2020 season, according to Forbes.
The league has been in a long-term financial struggle, having to raise new revenue through ticket sales, corporate sponsorships and other revenue streams to make up for losses in the previous fiscal year.
Earlier this year, it announced it was raising the price of season tickets by $30 a ticket, the largest price hike in league history.
The NHL’s new arenas are expected be more than $50 million per year, compared to the $60 million per team that is expected to open in the 2020-21 season, the Los Angeles Kings and Calgary Flames have both announced.
The average price per team is expected be $5 million, a decrease of about $400,000 per team compared to last year, according a report by Forbes.
In addition, the price increases have forced the league to cut its ticket prices by an average of $30 per game.
The price of seats at a team’s new arena is expected, according the report, to be around $100 a seat.