Now comes the financial byproduct of winning another Stanley Cup.
The business side of the Los Angeles Kings franchise has successfully capitalized on the team’s stirring run to its second Stanley Cup championship in the last three seasons. First off, the team will announce on Monday that its new flagship radio home will be KABC (790).
It is a five-year agreement and the Kings will be the only sports property on KABC, and longtime team broadcasters Nick Nickson and Daryl Evans will continue in their positions, play-by-play and analyst, respectively.
Additionally, the Kings already have sold out of season tickets for 2014-15. The team said its season-ticket base is 16,000 and that season-ticket renewal was in excess of 95%. The base number includes partial season-ticket plans; single-game tickets are scheduled to go on sale in September.
The Kings have sold out 120 consecutive games, and they’ve been able to raise their rates in terms of sponsorship dollars. Forbes magazine valued the worth of the Kings at $450 million, but that was in November, months before they beat the New York Rangers in the Stanley Cup Final.
In the midst of their run to the Stanley Cup in 2012, the Kings reached a TV agreement with Fox Sports for a reported $250 million, keeping the team on Fox Sports West through 2024.
For the Kings, the radio deal is novel in that it is a multiyear agreement. Kelly Cheeseman, the Kings’ chief operating officer, said in a interview that the team previously “basically paid” to be on radio and that agreements of the past were typically of a year-to-year nature.
The Kings hope the radio agreement will help along those lines, assisting them in reaching a broader audience. Beyond the game-day broadcasts, they plan on partnering on “exclusive events and original digital content.”
“We are thrilled to partner with Cumulus and TalkRadio 790 KABC as we announce this agreement,” Luc Robitaille, the Kings’ president of business operations, said in a statement. “They are a strong and visible media and broadcasting brand in our community, and they have a great overall reputation as a business and in the radio industry in particular.
“Our combined efforts will undoubtedly broaden the reach of the Kings with our current fans and in the broader community.”
Jason Barrett is the President and Founder of Barrett Media since the company was created in September 2015. Prior to its arrival, JB served as a sports radio programmer, launching brands such as 95.7 The Game in San Francisco, and 101 ESPN in St. Louis. He also spent time programming SportsTalk 950 in Philadelphia, 590 The Fan KFNS in St. Louis, and ESPN 1340/1390 in Poughkeepsie, NY. Jason also worked on-air and behind the scenes in local radio at 101.5 WPDH, WTBQ 1110AM, and WPYX 106.5. He also spent two years on the national stage, producing radio shows for ESPN Radio in Bristol, CT. Among them included the Dan Patrick Show, and GameNight.
You can find JB on Twitter @SportsRadioPD. He’s also reachable by email at Jason@BarrettMedia.com.
