I agree with the salary cap concession but big TV revenue ? The ratings exist in Canada but are invisable in the U.S. Since I was a kid in the 1960's, NBC,CBS and ABC have all given the NHL a good shot and have been burned by low ratings, no matter what time they tried broadcasting games . ESPN was recently receiving ratings less than 1 % ( each point = 800k homes, supposedly ). In short, the United States doesn't care about watching hockey. Hell, fake wrestling on Monday receives a 4 in the ratings.
So how can the NHL justify a salary above 2 Mil a year ? They can't. Any wonder why the lower bowl Sabres tickets are $75 a game ? Who the hell would pay that for a Tuesday night game, with the players not even hustling most nights ? The season is too long and many players pace themselves, saving energy for the playoffs. I've gone during mid-week and witness only 40-50% of the seats being used. Terrible.
I hope the NHL starts from scratch. Shorter seasons. Lower salaries. More affordable ( realistic ) ticket prices. They have waaaay too high an opinion of themselves and live with a fantasy notion that they are a major sport. They're not and the TV ratings in the States prove it .