Oilers not cost-effective: Forbes
EDMONTON – At a cost of $1.71 million a victory, the Edmonton Oilers top the list of least cost-effective NHL teams that didn’t make the post-season.
Additionally, Forbes.comcontributor Dr. Patrick Rishe lists the Oilers as the worst-managed NHL team over the last five years.
Rishe, an associate professor of economics at Webster University in St. Louis and director of Sportsimpacts, said on Tuesday that he started crunching numbers after listening to a discussion on ESPN’s Mike and Mike in the Morning.
The gist of that discussion revolved around which franchise was the worst in pro sports. Rishe subsequently came up with two Sports Money blog entries that were posted on Forbes’ website over the last two days. One was titled the Most and Least Efficient NBA and NHL teams for the 2009-10 Season; the other was dubbed the Worst Managed Pro Sports Franchises of the Last 5 Years.
In both instances, he employed a formula of payroll cost per win. He took the number of points each team finished with after 82 games, then divided it by two. Two is the number of points awarded for a win.
Arguably, his numbers are not exact because of the overtime points in the NHL, but the Oilers, for example, eked out just 27 wins, so in theory their cost per win is even higher than $1.71 million.
“I used a wins-equivalent measure because hockey has ties. I wanted to try and make the comparison as uniform as possible to other sports and do that, you just look at wins,” Rishe said when he was reached in St. Louis.
“I think less important are the numbers for this past year and more important are the numbers that looked at the five-year analysis.”
The Oilers, Los Angeles Kings and Toronto Maple Leafs were at the top of the NHL list for the worst-managed franchises over the last five years, although not one of the three teams made its way into the top 10 list for pro sport franchises.