From The Archive: Money & Power: Winnipeg Jets

The newest edition of The Hockey News prominently features updates on the Winnipeg Jets and their financial and organizational landscape, following the publication of their 2025 Money and Power Issue. This special release delves deep into the workings of the NHL and individual franchises, highlighting ownership dynamics, the role of key executives, and the broader implications of financial strategies on team performance and community engagement.

Ownership and Leadership

At the helm of the Winnipeg Jets is Mark Chipman, a pivotal figure in the team’s resurgence and the broader Winnipeg hockey community. Chipman’s passion for hockey runs deep; he has been involved in Winnipeggers’ hockey pursuits well before the NHL team returned in 2011. As a member of the original group that aimed to keep the former Jets from relocating, he has dedicated decades to community-focused initiatives and the game itself.

Under Chipman’s guidance, the Jets have not only become competitive on the ice but have also invested significantly in the community. True North Sports and Entertainment, Chipman’s organization, has undertaken various projects aimed at revitalizing downtown Winnipeg, including True North Square and plans to convert the Portage Place shopping center into a multi-use facility. More importantly, initiatives like the True North Youth Foundation showcase Chipman’s commitment to the community, particularly through programs directed at mental health and wellness.

Essential Executives

Another key figure in the Jets’ leadership is John Olfert, the President and COO of True North Sports and Entertainment. His years of experience contributing to the organization since before it regained its NHL status have made him a vital asset. Engaged deeply with community initiatives, Olfert also empowers youth programs, ensuring continued investment in the next generation of hockey players and fans.

While ownership and executive leadership are crucial, the most visible component of any NHL team is its roster, and Kevin Cheveldayoff, the Jets’ General Manager, has been adept at navigating the unique challenges of Winnipeg. Retaining top talents like Mark Scheifele and Connor Hellebuyck despite Winnipeg’s less attractive free-agent market speaks volumes about Cheveldayoff’s negotiation skills and vision for the team. His emphasis on harnessing local talent through the AHL reflects a sound strategy, as evidenced by the number of players who have transitioned successfully from the Manitoba Moose to the Jets.

The Arena Experience

The Canada Life Centre, Winnipeg’s home venue since 2004, has undergone a significant transformation since the Jets returned. Located downtown, the arena has become a cultural hub for entertainment, evolving from an AHL facility to a premier NHL venue. Though it has the smallest capacity in the league at approximately 15,321 seats, the intimate setting fosters an electrifying atmosphere, especially during playoff games. The focus on local vendors and community engagement within the arena enhances the overall fan experience, making it a must-visit for hockey aficionados.

The Jets have also innovated their game-day experience with upgrades to the arena’s technology, enhancing everything from sound systems to the fan offerings available during games. A particularly noteworthy addition is the introduction of a house band, which serves to elevate the energy and atmosphere within the venue.

Financial Overview and Future Implications

From a financial standpoint, recent valuations put the Jets at approximately $1.05 billion according to Forbes and slightly higher at $1.3 billion from Sportico. These valuations reflect the club’s successful business model, which combines a rich on-ice history, community engagement, and a focus on local investment. The solid backing from ownership, paired with a forward-thinking executive team, establishes a sustainable framework that prioritizes both profitability and community impact.

As the NHL continues to evolve, pressures such as expanded revenue sharing, potential shifts in market dynamics, and increasing player salaries will challenge franchises. The Jets are positioned close to the heart of these challenges, but the leadership demonstrated by Chipman, Olfert, and Cheveldayoff lays groundwork for addressing future changes and opportunities.

Conclusion

In summary, the Winnipeg Jets have emerged as a case study in the intersection of sports, business, and community impact. Under the leadership of Mark Chipman and his executive team, they have crafted a unique identity, transforming both the team and its home city. The commitment to community, solid financial management, and a focus on building a competitive team positions them well in the league landscape. As they navigate future challenges, their ongoing story will be one to watch, not only for Jets fans but for anyone interested in the broader implications of sports management and community engagement within the unique context of the NHL.

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