Forbes magazine didn’t score with its investigation into the business of professional hockey, NHL Commish Gary Bettman says. The magazine charged that half of the leagues 30 teams are losing money, including the New Jersey Devils, Phoenix Coyotes and St. Louis Blues franchises. Bettman says the publication’s math was ice cold.

Forbes is always interesting because they don’t have access to any of our numbers. It may be a case of elaborate dart-throwing and perhaps more importantly, I think they undervalue our franchises. It may be a case of elaborate dart-throwing and perhaps more importantly, I think they undervalue our franchises.

And what about all those money losing teams?

That doesn’t make a lot of sense. Forbes has claimed that 11 more clubs are losing money than did, but our franchise values went up over 20 percent. There seems to be a disconnect even in their own reported metrics. I don’t believe Forbes is accurate.

What Bettman is hot about is the prospects for the new home of the New Jersey Devils — a franchise that according to Forbes is the worst of the money losers — despite criticisms that it was built is a rough neighborhood. (ESPN’s Hockey analyst Barry Melrose reportedly said infamously of the arena: “Don’t go outside, especially if you’ve got a wallet or anything else.” He later apologized.)

Bettman’s response? Just wait…

Fans are demanding a state of the art experience. That’s why new arenas have become so important. For those of you who haven’t seen the rock in Newark — it’s terrific. It’s as nice an arena as there is. It’s going to be great for Newark, because 2-3 million people a year are going to go to Newark at night.

If you go look at the Verizon center, which used to be the MCI center, in Washington D.C. which is on the edge of Chinatown, that was not a great area, and by putting their arena there, over a few year period, shopping restaurants, (and) housing (appeared). It is an absolutely terrific transitional example and you are going to see the same thing in Newark.

(Photo: Reuters)