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Having lived in both Canada and the U.S., I've made this observation about the NHL and its business prospects:

One problem they face is that there are really only nine NHL teams with solid fan support ... these include the Original Six, plus Philadelphia, Buffalo and Edmonton. When I say "solid fan support," what I mean is that any of these teams could get 17,000+ fans into an arena to watch a home game late in the season even if the team is out of a playoff spot.

It's kind of startling, really ... especially when you consider how many Canadian teams aren't included (Ottawa, Vancouver and Calgary). These are among the vast majority of NHL teams who rely heavily on casual fan support that tends to diminish substantially if the team isn't successful on the ice.

This makes it incredibly difficult for the NHL to build a national fan base. So much of the game's appeal is regionally based and tied to long-standing rivalries that date back many decades (Toronto-Montreal, Detroit-Chicago, Montreal-Boston, etc.).

So much of the game's appeal is regionally based

The NHL should embrace its regional appeal. Expansion into Charlotte, Dallas, etc. weakens the sport's overall appeal. I know, I'm a Kings fan, but LA is so big they can qualify just on NY transplants.

The season must be shortened, and started earlier, so that the most important hockey is played when there is conceivably snow located in some populated area at sea level in the northern hemisphere.

I would also like to see fewer overall teams, and fewer playoff spots. In the 70s, there were at one point 21 teams (after the Cleveland Barons merged with the MN Northstars) with 16 making the playoffs, including division winners in the Smythe Conference where not a single team played anywhere near .500! This made the regular season next to pointless. I would be thinking more along the lines of 24 teams with 8 making the playoffs. I might go as high as 12 if you provide byes for four division winners.

Now, I never figured out why the Nordiques and the Canadiens never turned into a rivalry, or the Winnipeg Jets and the Edmonton Oilers.I fear that new rivalries are much harder because of free agency, and the large influx of non North American players. It makes for better play, of course, to be able to get top Russians and Swedes, but it further weakens the meaning of team locality. Nothing prevents there being more Canadians on the Los Angeles Kings or the Charlotte Hurricanes than on the Toronto Maple Leafs.