The NHL’s pricey new puck drops in Seattle as it takes a page out of other leagues' playbooks

Sounds like a lake monster… the Seattle Kraken. The NHL’s newest hockey team hit the ice last night. This season, the NHL signed a $635M/year broadcast deal with ESPN and Turner — nearly twice the size of last year’s deal with Disney and NBC, but far from the NFL’s recent $10B/year deal. The NHL has high hopes for Seattle’s first team in 97 years. Here’s why:

• No expense spared: The Kraken raised $2B from billionaires like Amazon CEO Andy Jassy, who along with his ownership group paid $650M — more than 20 of 31 teams are valued — to join the NHL.
• The Climate Pledge Arena, sponsored by Amazon, cost $1B+ to upgrade and is 100% renewable-energy-powered. Think: more LED video screens than any other arena.
• Digital approach: The Kraken built a mobile app that gives fans personalized experiences, like finding their favorite wines waiting at their seats.
• Monster demand: An average Kraken ticket sells for $188 on SeatGeek, double the NHL average.

Streamable hat trick... The Kraken’s debut is part of a bigger e-vamp for the NHL, whose ratings hit a 10-year low last season. The NHL-ESPN partnership is the first major US sports broadcasting deal that’s streaming-focused: It gives the NHL access to 15M ESPN+ subscribers and 43M Hulu subscribers — and an opportunity to boost its fan base.