NHL创估值纪录：全面进入十亿美元时代 | 2026.9.3
字幕摘录
| 时间 | 英文 | 中文 |
|---|---|---|
| 0:07 | Steve, thanks so much for being here. | 史蒂夫,非常感谢你来到这里。 |
| 0:08 | It's a pleasure to be here. | 幸会 |
| 0:09 | Thanks for having me. | 谢谢你邀请我 |
| 0:10 | It's exciting to be here because I think according to | 来这里很激动 因为我觉得 |
| 0:12 | the Forbes valuations of major sports leagues, | 主要体育联赛的福布斯估值, |
| 0:16 | the NHL has been one of the most exciting to track. | NHL一直是最令人兴奋的追踪之一。 |
| 0:19 | According to our reporting, | 根据我们的报告 |
| 0:21 | you have two clubs that are worth | 你有两个俱乐部值得 |
| 0:23 | $4 billion across the entire league. | 整个联赛共40亿美元. |
| 0:26 | Franchises are averaging a value of $2.2 billion. | 法郎平均价值22亿美元。 |
展开字幕全文（367 条）
| 序号 | 英文 | 中文 |
|---|---|---|
| 1 | Steve, thanks so much for being here. | 史蒂夫,非常感谢你来到这里。 |
| 2 | It's a pleasure to be here. | 幸会 |
| 3 | Thanks for having me. | 谢谢你邀请我 |
| 4 | It's exciting to be here because I think according to | 来这里很激动 因为我觉得 |
| 5 | the Forbes valuations of major sports leagues, | 主要体育联赛的福布斯估值, |
| 6 | the NHL has been one of the most exciting to track. | NHL一直是最令人兴奋的追踪之一。 |
| 7 | According to our reporting, | 根据我们的报告 |
| 8 | you have two clubs that are worth | 你有两个俱乐部值得 |
| 9 | $4 billion across the entire league. | 整个联赛共40亿美元. |
| 10 | Franchises are averaging a value of $2.2 billion. | 法郎平均价值22亿美元。 |
| 11 | That is more than double what they were three years ago. | 这比三年前多了一倍多。 |
| 12 | You've been at the league 17 years. | 你已经在联赛17年了。 |
| 13 | What have the past three years felt like from your position? | 从你的立场上看过去三年有什么感觉? |
| 14 | In terms of valuation, | 在估价方面, |
| 15 | we actually feel like we're starting to get | 我们真的觉得我们 开始得到 |
| 16 | the recognition that we deserve in terms of valuation. | 在估价方面我们应该得到的承认。 |
| 17 | I will say, I know you're not writing the valuation pieces. | и穦弧 и笵⊿糶计沮 |
| 18 | We're undervalued and I'll continue to say we're undervalued, | 我们被低估了 我会继续说我们被低估了 |
| 19 | even at $2.2 billion and a couple of clubs over $4 billion. | 甚至22亿美元 和几家俱乐部超过40亿美元。 |
| 20 | We think our economic system, | 我们认为我们的经济体系, |
| 21 | the collective bargaining agreement | 集体谈判协议 |
| 22 | that we have in place with our players, | 我们与我们的玩家, |
| 23 | which creates predictable economics, | 它创造了可预测的经济, |
| 24 | a hard salary cap for our teams | 我们的球队的硬工资上限 |
| 25 | and our leadership to plan against. | 和我们的领导层 计划反对。 |
| 26 | It really creates underlying value | 它真的创造了基础价值 |
| 27 | that I think the outside world | 我觉得外面的世界 |
| 28 | is just starting to recognize. | 才刚开始认识 |
| 29 | There's predictable or more predictable returns | 有可预测的或更可预测的回报 |
| 30 | in terms of what you're spending | 在你花费多少方面 |
| 31 | on various parts of your business. | 有关你不同业务的部分。 |
| 32 | And that matters, right? | 这很重要,对吧? |
| 33 | In today's world of unpredictable economics, | 在当今不可预测的经济世界中, |
| 34 | unpredictable costs in certain parts of the economy, | 某些经济部门无法预测的成本, |
| 35 | knowing that certain pieces of our economics are locked in | 明知我们经济的某些部分被锁定 |
| 36 | really is an important value. | 真正的价值。 |
| 37 | So combine the growth that we've achieved | 因此,结合我们已经实现的增长 |
| 38 | over the last decade in terms of national engagement, | 过去十年来,就国家参与而言, |
| 39 | the international pathway that we have in front of us, | 我们面前的国际道路, |
| 40 | a lot of the metrics that you're starting to see | 你开始看到很多衡量标准 |
| 41 | really pop in terms of our ratings and our fan engagement, | 从我们的收视率和粉丝参与度来看 |
| 42 | plus the economic system we have in place. | 再加上我们的经济体制 |
| 43 | It all kind of comes together | 都凑在一起了 |
| 44 | and has helped support that valuation growth. | 并帮助支持这一估值增长。 |
| 45 | Talk about the growth evaluations | 谈谈增长评估 |
| 46 | and the institutional capital. | 和机构的资本。 |
| 47 | We're in spring, 2026. | 2026年春运. |
| 48 | So if you're talking to a new source | 所以,如果你在跟一个新的来源说话 |
| 49 | of institutional capital, | 体制资本, |
| 50 | what would you tell them about why the NHL | 你会怎么告诉他们 为什么NHL |
| 51 | is a good investment right now? | 现在投资不错吧? |
| 52 | Yeah, look, I think you would focus on the upside | 是啊,你看,我认为你会 专注于颠倒 |
| 53 | that we have in front of us. | 是我们面前的 |
| 54 | You'd focus on what we think is a price point | 你会专注于我们认为是价点的东西 |
| 55 | that's when you look at the landscape of sports | 当你看到运动的风景 |
| 56 | and the ability to get into sports at certain price points, | 以及在某些价格点进入运动的能力, |
| 57 | we still think the price point, | 我们仍然认为价格点, |
| 58 | the entry to get into the NHL | 进入NHL的条目 |
| 59 | is still an affordable entry price, right? | 还是价钱低廉的,对吧? |
| 60 | At $2.2 billion, it's a lot of money | 22亿美金,是一大笔钱 |
| 61 | and it's a very high valuation, | 价值很高, |
| 62 | but relative to what you're seeing in some other leagues | 但相对于你在其他联赛中看到的 |
| 63 | and some other industries, | 和其他一些行业, |
| 64 | it's still an approachable price point, | 这还是个可行的价格点 |
| 65 | if you can call it that. | 如果你可以这么说的话 |
| 66 | So there's the ability to come in at a level | 所以,有 进入一个层次的能力 |
| 67 | where we think the upside is significant. | 在那里,我们认为 颠倒是重要的。 |
| 68 | So you've talked about the technology | 所以,你已经谈到技术 |
| 69 | and the growth that technology partnerships, | 以及技术伙伴关系的发展, |
| 70 | the growth that technology applications | 技术应用的增长 |
| 71 | have brought to our game and to our league | 带来了我们的游戏和我们的联盟 |
| 72 | and to our business. | 和我们的生意。 |
| 73 | That's going to accelerate over time. | 随着时间的推移,这将加快速度。 |
| 74 | Our international plans are accelerating | 我们的国际计划正在加速 |
| 75 | the growth potential that we see | 我们看到的增长潜力 |
| 76 | in historically strong hockey markets overseas. | 在历史上强大的冰球市场 海外。 |
| 77 | Europe is a traditionally strong hockey market | 欧洲是一个传统上很强的冰球市场 |
| 78 | that we've been participating in for a long time, | 我们已经参与很久了 |
| 79 | but we've really solidified plans | 但我们真的已经 巩固了计划 |
| 80 | to focus that growth on certain areas | 将增长集中于某些领域; |
| 81 | of the European continent, | 欧洲大陆, |
| 82 | where we think we've really just scratched the surface | 在那里,我们认为我们真的 刚刚刮到了表面 |
| 83 | in terms of partnerships, | 在伙伴关系方面, |
| 84 | in terms of fan engagement, in terms of growth. | 在粉丝参与方面,在增长方面。 |
| 85 | So we think combine the technology aspect | 因此,我们认为结合技术方面 |
| 86 | with the international growth aspect, | 在国际增长方面, |
| 87 | with the economics of our league, | 与经济学 我们联盟, |
| 88 | I think you have a pretty strong sales point | 我觉得你的销售点很强 |
| 89 | for anyone who wants to come into the league. | 给任何想加入联盟的人 |
| 90 | Recognizing that there are a lot of factors | 认识到有许多因素 |
| 91 | that go into the league being successful and growing | 进入联赛 成功和成长 |
| 92 | and each team being successful and growing, | 每个团队都成功成长, |
| 93 | I do want to ask, by our estimates, | 我想问,据我们估计, |
| 94 | every NHL team was profitable last season, | 每支NHL球队上赛季都有利可图 |
| 95 | 这可不是NBA、MLB或NFL能说的 | |
| 96 | What do you think is enabling these franchises specifically | 你认为什么是授权 这些特许经营 |
| 97 | that we haven't touched on? | 我们没有接触过吗? |
| 98 | Yeah, well, look, we've already touched on the main factor, | 是啊,听着,我们已经触及了主要因素, |
| 99 | which is our system, right? | 这是我们的系统,对不对? |
| 100 | The economic system that we have, | 我们的经济体系, |
| 101 | the collective bargaining and agreement | 集体谈判和协议 |
| 102 | that we have with our players. | 与我们的玩家。 |
| 103 | That's a big part of how that profitability occurs. | 这是盈利方式的一大部分。 |
| 104 | But look, we have strong demand for our game. | 但看,我们有强烈的需求 我们的游戏。 |
| 105 | We played in 96% capacity during the regular season. | 我们正常赛季96%的比赛能力 |
| 106 | That's 96% capacity over more than 1,000 games. | 96%的容量超过1000个游戏. |
| 107 | That's a lot of fans coming through, | 有很多粉丝来过 |
| 108 | but it shows the demand for live engagement with our sport. | 但是,它显示了对现场参与我们运动的需求。 |
| 109 | And at a 96% capacity rate, | 以96%的容量率 |
| 110 | that gives our clubs a little bit more ability | 这让我们的俱乐部更有能力 |
| 111 | to utilize dynamic pricing up and down | 利用动态定价上下 |
| 112 | to make sure that they're trying to maximize the ability | 以确保他们尽量提高能力 |
| 113 | to drive revenue as a result of live attendance. | 由于现场出勤而增加收入。 |
| 114 | We have 75 corporate partners, | 我们有75个公司合伙人 |
| 115 | more than 75 corporate partners at the national level, | 国家一级超过75个公司伙伴; |
| 116 | which speaks to the desire for brands to partner | 这说明人们渴望品牌合作 |
| 117 | with the sport, to partner with the NHL. | 与运动,与NHL合作. |
| 118 | That happens at the local level as well. | 在地方一级也是如此。 |
| 119 | So the strength of our national partnership business | 所以,我们国家合作事业的力量 |
| 120 | is amplified at the local level as well, | 在地方一级也扩大了, |
| 121 | which again, drives revenue, drives fan engagement, | 它再次驱动收入, 驱动粉丝订婚, |
| 122 | drives activation. | 驱动激活。 |
| 123 | It's all sort of a virtual cycle | 这都是虚拟循环 |
| 124 | that leads back to additional revenue | 导致增加收入 |
| 125 | and hopefully additional profitability. | 并且希望增加利润。 |
| 126 | We're dealing with the same local media landscape issues | 我们处理的是当地媒体的风景问题 |
| 127 | that other US sports leagues are dealing with. | 美国其他体育联盟正在对付的 |
| 128 | That's not an issue for us in Canada. | 这不是加拿大的问题 |
| 129 | The regional sports network landscape in Canada is stable. | 加拿大区域体育网络景观稳定. |
| 130 | It's a different environment here in the United States | 美国的环境不一样 |
| 131 | for a host of reasons, | 出于多种原因, |
| 132 | but we're helping our clubs navigate | 但我们帮助我们的俱乐部导航 |
| 133 | through that disruption. | 穿过那段混乱 |
| 134 | We're helping them navigate | 我们帮他们导航 |
| 135 | through alternative distribution methods, | 通过替代分配方法, |
| 136 | alternative distribution strategies | 替代性分配战略 |
| 137 | that are helping them retain as much revenue as possible | 帮助他们保住尽可能多的收入 |
| 138 | in that local distribution system. | 在那个地方分配系统。 |
| 139 | And again, all those things add up to, | 再说一遍,所有这些事情加起来, |
| 140 | by your accounts, profitability, which is great. | 由你的账户,盈利, 这是伟大的。 |
| 141 | You mentioned the Canada deals. | 你提到加拿大的交易。 |
| 142 | You've recently announced a new Canadian broadcast deal | 你最近宣布了一个新的加拿大广播协议 |
| 143 | that more than doubles the fee that you had been receiving | 超过你收到的费用两倍 |
| 144 | under the prior agreement. | 根据先前的协议。 |
| 145 | What does that signal to you? | 那对你意味着什么? |
| 146 | The NHL and the strength of the NHL in Canada | NHL与加拿大NHL的力量 |
| 147 | is unprecedented. | 这是前所未有的。 |
| 148 | We drive more eyeballs, more engagement | 我们开更多的眼球,更多的接触 |
| 149 | than any other sport by far in Canada. | 比其他运动在加拿大到目前为止。 |
| 150 | We are, I think that the deal that you just referenced, | 我们,我认为你刚才提到的交易, |
| 151 | the largest media deal in Canadian history, | 加拿大历史上最大的媒体交易, |
| 152 | which was displaced our previous Canadian media rights deal. | 它取代了我们之前的加拿大媒体权利交易。 |
| 153 | So we've always been a ratings powerhouse in Canada | 我们加拿大一直都是收视强国 |
| 154 | and we've been compensated appropriately for that. | 我们得到了适当的补偿 |
| 155 | Hockey night in Canada, | 加拿大冰球之夜 |
| 156 | which is the Saturday night prime time game | 这是周六的黄金时段游戏 |
| 157 | on national TV in Canada. | 加拿大国家电视台 |
| 158 | Week in, week out is the highest rated program, | 周进,周出是评分最高的节目, |
| 159 | highest viewed program in Canada, week in and week out. | 加拿大最受欢迎的节目 每周播出一次 |
| 160 | I think NHL content is something like 45 | 我觉得NHL的内容是45 |
| 161 | of the top 50 watch programs in Canada | 加拿大前50名的观察节目 |
| 162 | throughout the calendar year. | 整个日历年。 |
| 163 | So Canadian fans continue to engage with the sport | 因此,加拿大球迷继续参与运动 |
| 164 | in large, large numbers. | 数量巨大,数量巨大。 |
| 165 | We've been cognizant of the fact | 我们已经意识到这个事实 |
| 166 | that we need to continue to evolve the way | 我们必须继续发展 |
| 167 | in which we present the game to Canadian fans. | 在其中,我们将游戏介绍给加拿大球迷. |
| 168 | We need to keep up with technological changes. | 我们需要跟上技术的变化。 |
| 169 | We need to keep up with the distribution changes | 我们需要跟上分配的变化 |
| 170 | in the Canadian landscape, | 在加拿大风景区, |
| 171 | whether it's a shift to streaming for some fans | 不管是对粉丝来说还是对流的转变 |
| 172 | who prefer to watch the game on a streaming device, | 他们喜欢在流媒体上观看游戏, |
| 173 | whether it continues to be traditional linear television, | 无论它是否仍然是传统的线性电视, |
| 174 | we continue to respond to the needs | 我们继续应对需求 |
| 175 | and the changes in the Canadian marketplace. | 加拿大市场的变化。 |
| 176 | But we're very proud of the fact | 但我们非常自豪 |
| 177 | that we are the number one sports brand in Canada. | 我们是加拿大的头号体育品牌。 |
| 178 | And we have to never forget that we are that | 我们永远不能忘记,我们是 |
| 179 | and continue to change and evolve the game. | 并不断改变和演变游戏. |
| 180 | Let's talk about some of the markets. | 我们来谈谈一些市场 |
| 181 | You had Arizona relocate to Utah. | 你让亚利桑那州搬到犹他州 |
| 182 | You've had Vegas and Seattle come in as expansion teams. | 你让拉斯维加斯和西雅图 作为扩张队进来了 |
| 183 | What's been your experience with these new markets | 你对这些新市场有什么经验? |
| 184 | or what's it done for the NHL? | 或者NHL有什么反应? |
| 185 | I think at the time Vegas was a new member of the league. | 我想当时维加斯是联盟的新成员 |
| 186 | It was widely regarded as the most successful | 人们普遍认为它最成功 |
| 187 | professional sports expansion. | 专业体育扩展. |
| 188 | I mean, their performance on and off the ice | 我的意思是,他们的表现 冰上和下 |
| 189 | in that first year that they were part of the league | 在第一年,他们是联盟的一部分 |
| 190 | was unprecedented in terms of their game performance, | 在他们的游戏表现上是前所未有的, |
| 191 | their economic performance. | 他们的经济表现。 |
| 192 | Follow that up with Seattle, | 跟着西雅图 |
| 193 | which introduced a beautiful renovated building, | 它引入了一座美丽的建筑, |
| 194 | took a historic building and made it even better | 抢了一座历史建筑,造得更好 |
| 195 | and has debuted a fantastic fan base, | 并初次亮相, |
| 196 | a fantastic brand and have become really a part | 一个很棒的品牌 并成为了真正的一部分 |
| 197 | of that Seattle sports landscape very, very quickly. | 在西雅图的体育景观 非常非常非常迅速。 |
| 198 | And Utah has proven to be an enormously successful, | 犹他州已经证明是一个巨大的成功, |
| 199 | a winter sport in the winter sports capital, right? | 冬季运动 在冬季运动首都,对不对? |
| 200 | It's what better place to take in a hockey game | 在曲棍球比赛中最好去的地方 |
| 201 | than somewhere that you can also go | 你也可以去一个地方 |
| 202 | and jump on the ski slopes 10 or 15 minutes | 跳上滑雪坡 10或15分钟 |
| 203 | outside of downtown. | 在市中心外面 |
| 204 | It's like the perfect marriage. | 这就像完美的婚姻。 |
| 205 | All three of them have been enormously | 这三个人都是巨大的 |
| 206 | financially successful. | 财政上的成功。 |
| 207 | I think if you look at Vegas, | 我认为如果你看看拉斯维加斯 |
| 208 | when Vegas expanded for their expansion fee | 当拉斯维加斯扩张 他们的扩张费 |
| 209 | and the $600 millions of dollars for an expansion fee, | 和6亿美元的扩张费, |
| 210 | I think your publication had them listed | 我想你的刊物上写了 |
| 211 | at about $2 billion most recently. | 最近大约20亿美元。 |
| 212 | So by any financial measurement, | 因此,通过任何财务衡量, |
| 213 | that's a great return over a fairly short period of time. | 这是一个很大的回报 在相当短的时间内。 |
| 214 | So they've been able to benefit | 所以他们可以受益 |
| 215 | from that acceleration of growth. | 从增长的加速。 |
| 216 | So we're very happy with all three, | 所以我们对三个都很开心 |
| 217 | the fan bases and all three of those markets are fantastic. | 粉丝基地和这三个市场都很棒 |
| 218 | They're rabid hockey fans. | 他们是狂野曲棍球迷。 |
| 219 | Look, we were the first professional sports league | 看,我们是第一个职业体育联赛 |
| 220 | to approve an expansion into Las Vegas | 批准扩建拉斯维加斯 |
| 221 | and you've seen what's happened since. | 你从那时起就知道发生了什么了 |
| 222 | It's become almost like a sports Mecca in some ways | 从某些方面来说,这几乎就像麦加的运动 |
| 223 | with the rapid acceleration of new franchises | 迅速加速新的特许经营权 |
| 224 | in that market. | 在市场上。 |
| 225 | As you field interest | 随你 |
| 226 | from other potential expansion markets, | 从其他潜在的扩展市场, |
| 227 | what do you look for in these candidates to say yes, | 你在找什么在这些候选人 说是, |
| 228 | to make it the next expansion city? | 让它成为下一个扩张城市? |
| 229 | Yeah, look, I think the commissioner, | 是的,你看,我认为专员, |
| 230 | our deputy commissioner, | 我们的副专员, |
| 231 | when they run these processes, | 当他们运行这些进程时, |
| 232 | they always look for a strong ownership group. | 他们总是寻找一个强大的所有权集团。 |
| 233 | I mean, more than anything else, | 我的意思是,比其他任何东西, |
| 234 | it needs to be a strong ownership group | 它需要一个强大的所有权集团 |
| 235 | committed to the city, well-capitalized ownership group. | 致力于城市,资本充裕的所有权集团. |
| 236 | They have to have a facility that makes sense | 他们必须有一个有道理的设施 |
| 237 | for our game today, | 今天的比赛 |
| 238 | for the way in which our game today is monetized, | 因为今天我们的游戏是货币化的 |
| 239 | for the way in which our game today is played | 今天我们玩游戏的方式 |
| 240 | and for what our fans expect in a modern building, | 对于我们的粉丝们在现代建筑中的期望, |
| 241 | in a modern facility. | 在现代设施。 |
| 242 | And I think the three most recent examples that you cite, | 我认为你最近举的三个例子 |
| 243 | check those boxes, | 检查那些盒子, |
| 244 | and Utah is undergoing a very extensive renovation | 犹他州正在大修 |
| 245 | to the Delta Center | 致三角洲中心 |
| 246 | to make that a world-class hockey venue, | 使之成为世界级的曲棍球场地, |
| 247 | which is exciting for that market. | 这对市场来说是令人兴奋的。 |
| 248 | Obviously, the market itself, | 显然,市场本身, |
| 249 | does the market make sense in the context of the league | 在联赛中市场是否合理 |
| 250 | and the footprint of the league? | 联盟的足迹呢? |
| 251 | Will it help make the league a stronger league? | 它能帮助使联赛成为一个更强大的联赛吗? |
| 252 | Will it help to serve a fan base | 能为粉丝服务吗? |
| 253 | that we expect will be a strong hockey fan base? | 我们期待成为一个强大的冰球迷基地? |
| 254 | And does it make sense for the broadcasting | 广播有道理吗? |
| 255 | and other business footprints | 其他商业足迹 |
| 256 | that we need to grow over the course of the league? | 在联赛中我们需要成长? |
| 257 | So look at all three of those things in combination, | 看看这三样东西 |
| 258 | and I think you get a pretty good sense | 我觉得你很明白 |
| 259 | as to what we're looking for. | 至于我们要找的是什么 |
| 260 | You mentioned the Olympics being a driver of interest. | 你提到奥运会是引起兴趣的动力。 |
| 261 | I'd be remiss not to ask you | 我不该问你的 |
| 262 | about some of the fictional franchises | 关于一些虚构的特许权 |
| 263 | that might be opening up new fan bases. | 这可能是打开新的粉丝基地。 |
| 264 | There's one big one, | 有一个大的, |
| 265 | but there's also the Bear Town series by Frederick Bachman. | 但还有弗雷德里克·巴赫曼的"熊城"系列. |
| 266 | There are a few other, there's more than one. | 另有数人,有余人. |
| 267 | There's one that's bubbled to the top. | 有一气泡至顶. |
| 268 | But how have you experienced that from your seat, | 但你是怎么从座位上感受到的 |
| 269 | and are these fictional hockey stories | 这些是虚构的曲棍球故事 |
| 270 | actually bringing new fans | 真正带来新的粉丝 |
| 271 | and new revenue opportunities to the NHL? | 和新的收入机会 NHL? |
| 272 | No, I think in short answer, yes. | 不,我想简短的回答,是的。 |
| 273 | Heated rivalry or any other of the fictional serieses | 热竞或虚构系列中的任何其他 |
| 274 | that you're referring to, | 你说的 |
| 275 | they've certainly opened up interest in our game, | 他们肯定对我们的游戏产生了兴趣 |
| 276 | interest in our sport, | 对我们的运动感兴趣 |
| 277 | {\fn黑体\fs20\shad2\2aH82\3aH20\4aH33\fscx95\3cH592001\be1}其他的粉丝们 | |
| 278 | would not have found our game, | 不会找到我们的游戏, |
| 279 | perhaps not would have found our clubs. | 也许找不到我们的俱乐部 |
| 280 | And we welcome that. | 我们对此表示欢迎。 |
| 281 | It's been a fun phenomenon to watch | 看这个真是有趣 |
| 282 | sort of the fan engagement, the fan metrics, | 像是粉丝的订婚 粉丝的衡量标准 |
| 283 | the viewership numbers increase | 观众人数增加 |
| 284 | over the second half of our regular season. | 在下半个常规赛季。 |
| 285 | I think a lot of that was due to the Olympics, | 我想很多都是因为奥运会 |
| 286 | and I think a lot of that was due to some of the phenomenon | 我认为很多事情 是由于一些现象 |
| 287 | that we saw around these series, which is great, right? | 我们看到这些系列, 这是伟大的,对不对? |
| 288 | We welcome that. | 我们对此表示欢迎。 |
| 289 | Our clubs have engaged in certain theme nights | 我们的俱乐部在主题之夜 |
| 290 | around those fictional series, | 围绕那些虚构的系列, |
| 291 | playing off some of the various brands, | 玩出一些各种品牌, |
| 292 | some of the various storylines, et cetera, | 一些不同的故事情节等等, |
| 293 | that have come up from it. | 已经从它。 |
| 294 | So we think it's been great. | 所以,我们认为这是伟大的。 |
| 295 | We've certainly been welcoming of new fans | 我们当然欢迎新的粉丝 |
| 296 | who have come into the NHL family | 他们来到NHL家族 |
| 297 | who have become fans of certain clubs | 成为某些俱乐部的粉丝 |
| 298 | or fans of the sport or fans of players | 或体育爱好者或球迷 |
| 299 | because of the series. | 因为系列。 |
| 300 | And we look forward to more of it going forward. | 我们期待着有更多的进展。 |
| 301 | Speaking of going forward, what has you most excited? | 说到前进,你最兴奋的是什么? |
| 302 | What's next for the NHL? | NHL的下一个是什么? |
| 303 | Yeah, I mean, look, we're playing right now | 是啊,我的意思是,你看,我们正在玩 |
| 304 | to call it 70% growth year over year | 年增长率为70% |
| 305 | in our playoff ratings. | 在我们的季后赛收视率。 |
| 306 | Our first round of the playoffs was up sort of 65-ish, 70%, | 我们的第一轮季后赛是65分左右 70% |
| 307 | and we're seeing that same momentum | 我们看到了同样的动力 |
| 308 | continue into our second rounds. | 继续进入我们的第二轮。 |
| 309 | And we're achieving that without perhaps | 而我们正实现这一点 也许没有 |
| 310 | what some would call large markets. | 人们会称之为大市场。 |
| 311 | We had some large markets | 我们有一些大市场 |
| 312 | who were not part of the postseason tournament, | 他们不是赛季后赛的一部分, |
| 313 | not part of the playoffs, | 不是季后赛的一部分, |
| 314 | and we're still seeing 70% growth in our ratings. | 我们的收视率还提高了70% |
| 315 | So I think that speaks to the potential growth | 所以我认为这说明 潜在的增长 |
| 316 | that we still have in front of us. | 我们仍然在眼前。 |
| 317 | We're excited about our continued slate | 我们很兴奋,我们继续 |
| 318 | of tent pole outdoor games. | 在户外玩帐篷杆游戏 |
| 319 | We just came off a season | 我们刚从赛季出来 |
| 320 | where we just played two outdoor games in Florida. | 我们刚在佛罗里达打过两场户外比赛 |
| 321 | Look back 10, 20 years, would you ever have envisioned | 回首过去10,20年,你会想到 |
| 322 | we'd played two outdoor games to sold out audiences | 我们玩过两场户外游戏 卖掉观众 |
| 323 | in a football stadium and a baseball stadium in Florida | 在佛罗里达州的足球场和棒球场 |
| 324 | in the middle of our season? | 在我们的季中? |
| 325 | The Panthers, the Lightning | 黑豹,闪电 |
| 326 | have grown those fan bases enormously | 这些粉丝已经成长了 |
| 327 | since they've joined the league. | 因为他们已经加入了联盟。 |
| 328 | We've seen growth in youth hockey participation | 我们的青春曲棍球参与率有了提高 |
| 329 | skyrocket in Florida. | 佛罗里达的暴风雨 |
| 330 | Advances in technology, advances in our ice technology | 科技进步,冰科技进步. |
| 331 | to allow us to feel comfortable to play outdoor games | 来让我们在户外玩游戏时感到舒服 |
| 332 | in those environments have been significant over the years. | 多年来,在这些环境中,情况十分严重。 |
| 333 | We've played 45 outdoor games | 我们打了45场户外比赛 |
| 334 | and we learn something new every time we play an outdoor game. | 我们每次玩户外游戏 都会学到新东西 |
| 335 | So the cumulative learning of those 45 years | 所以45年的累积学习 |
| 336 | allows us to play games in locations where otherwise | 允许我们在其它地点玩游戏 |
| 337 | when we first started these outdoor games | 当我们开始这些户外游戏时 |
| 338 | in Buffalo all those years ago, | 这些年前在水牛城 |
| 339 | we never would have imagined that that would be possible. | 我们从没想过会这样 |
| 340 | So I think the advances in our fan base | 所以,我认为我们粉丝基地的进步 |
| 341 | or advances in our ambition | 或者我们的雄心进军 |
| 342 | to play those types of outdoor games, | 玩这些类型的户外游戏, |
| 343 | the response that we're seeing from our fans | 粉丝们的反应 |
| 344 | that we're seeing in the playoff ratings, | 我们在季后赛收视率上看到 |
| 345 | I think it all leads to great days ahead. | 我认为这一切会导致未来的美好日子。 |
| 346 | And I'm gonna end where we began | 我会结束我们开始的地方 |
| 347 | on Forbes' valuation of NHL teams. | 关于福布斯对NHL团队的估价. |
| 348 | We're undervalued. | 我们被低估了。 |
| 349 | You're undervalued. | 你被低估价值了。 |
| 350 | So if the average value of NHL teams by our accounting | 因此,如果NHL团队的平均价值 通过我们的会计 |
| 351 | is 2.2 billion for the 2025 list, | 2025年名单上的22亿, |
| 352 | what should that number be for the 2026 list? | 2026年名单的号码是多少? |
| 353 | Significantly more, significantly more. | 更显著,更显著。 |
| 354 | We will continue to tell our story | 我们会继续讲述我们的故事 |
| 355 | about our growth potential, about our economics, | 关于我们的增长潜力, 关于我们的经济, |
| 356 | about our system to your publication, | 关于我们的系统到你的出版, |
| 357 | to the world writ large. | 给世界写大字 |
| 358 | We've seen precedent transactions happen, | 我们已经看到先例交易发生, |
| 359 | whether it's control stakes or minority stakes | 无论是控制股份还是少数股份 |
| 360 | in our clubs that justify even higher numbers | 在我们的俱乐部里 证明数量更高 |
| 361 | than what we've seen recently. | 比我们最近看到的还要多 |
| 362 | So we think it should be significantly higher. | 因此,我们认为,应该提高很多。 |
| 363 | I won't say a number. | 我不会说一个号码。 |
| 364 | Fair enough, Steve. | 没错,史蒂夫。 |
| 365 | Thank you so much for sitting down with us. | 非常感谢你和我们坐在一起 |
| 366 | My pleasure, thanks. | 我很荣幸,谢谢。 |
| 367 | Tingo. | 丁果(原变种). |
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