What is Gary Bettman's Net Worth?
|Name: Gary Bettman|
Born: June 2nd, 1952
Company: National Hockey League (NHL)
Gary Bettman currently has a net worth of an estimated:
Gary Bettman was born in Queens, New York City on June 2nd, 1952.
Bettman went to school at Cornell University, where he received a degree in Industrial and Labor Relations. Bettman then went on to study law at the New York University School of Law.
After working for a few years at the Proskauer Rose Goetz * Mendelsohn law firm in New York City, Gary Bettman was hired by the National Basketball Association (NBA) in 1981. Bettman quickly rose up the ranks of the league, eventually serving as a senior vice-president and general counsel to the league.
In 1993, the NHL was looking to hire their first commissioner. Bettman interviewed for the job and was officially named commissioner of the league on February 1st, 1993.
Gary Bettman had a clear mandate from the league - settle the NHL's labor unrest, expand into new markets and enhance television revenues.
Bettman is an extremely unpopular commissioner amongst NHL players and fans. This can be attributed to Bettman's insistence on expanding the league into weaker markets in the southern United States and locking out the NHLPA multiple times. An entire season (2004-05) was wiped out thanks to a lockout, but Bettman and the owners ended up getting what they wanted - a hard salary cap. For this reason, Gary Bettman is popular with the league's owners and isn't going anywhere anytime soon.
Gary Bettman's compensation has soared since the 2004-05 lockout. League revenues have increased dramatically ($2.2 billion to $3.3 billion in seven years), while franchise values have increased nearly 47%. Bettman has reaped the rewards of the league's growth as well, as his compensation increased from $3.7 million in 2004-2005 to $7.98 million in the NHL's fiscal year ending June 30th, 2011.
Of this $7.98 million, $6,090,173 was base salary, $1,711,930 was "other compensation", $155,782 was deferred compensation and $25,868 came in the form of benefits. It's safe to assume that Bettman made as much or more money during the 2011-2012 fiscal year, as the NHL enjoyed record revenues. Source: Sportsnet.ca
Note: Bettman received $7.5 million during the 2010 fiscal year, meaning that he likely received a combined $23 million+ in compensation over the 2010, 2011 and 2012 fiscal years.
The NHL and NHLPA made fans suffer through another lockout that ended up costing the 2012-13 season almost half of its schedule.
In the end, the owners were able to extract some key concessions from players, including the lowering of salary cap to 50% of hockey-related revenues, from a previous level of 57%.
League revenues, however, continue to soar, which likely means that the NHL will have a salary cap of $80 million in just a few short years. Gary Bettman has inked a couple of key TV deals, including a 12 yr/$5.2 billion deal with Rogers for national broadcast rights in Canada, and this will help to fill league coffers even more.
Love him or hate him, there is no denying that league revenues have soared under Gary Bettman's leadership. With multiple outdoor games per year, a new TV deal in Canada and the possibility of a World Cup in 2015, the NHL should continue to see its fortunes increase in upcoming years.
Given Gary Bettman's soaring compensation over the past 4-5 years, it's a pretty good guess that his net worth is $30 million or more.
Gary Bettman is worth 388 times more than the median US household
If Gary Bettman sold everything that he owned, he could fund the United States' deficit spending for 0 days.
Note: Net Worth changes calculated at 4 pm EST daily
The net worth pages are strictly for entertainment purposes only. The information on these pages is based on speculation and shouldn't be construed as being accurate in any way.
By: Dave Manuel