From THN's Archive: Columbus Blue Jackets - Team Valuation

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From THN's Archive: Columbus Blue Jackets - Team Valuation  - Jan. 3, 2026, Vol. 78, Issue 06 - Brian Hedger

JOHN P. MCCONNELL remains the majority owner and governor of the Columbus Blue Jackets, which are roles he inherited in 2008 following the death of his father, John H. McConnell, the team’s founder.

McConnell, however, is following his late father’s lead while heading toward full retirement. His oldest son, John H. McConnell II, has begun taking on a leadership role with the team while becoming an alternate governor and assisting in all ownership matters.

John H. McConnell II is also the board chair of JMAC, Inc. – the family’s holding and investment company – which manages a variety of business and philanthropic activities. The highest-profile of those endeavors is being the parent company of the Blue Jackets.

In 2023, John P. McConnell stepped down from the board of directors for Worthington Industries, the global diversified metals manufacturing enterprise founded by his father and based in Columbus. He had worked for Worthington Industries his entire adult life, starting as a general laborer in a steel plant in Louisville, Ky., in 1975. He is now working through a succession plan, which included his son joining Worthington Industries’ board of directors in 2023.

John P. McConnell has traditionally kept a low profile as majority owner and rarely speaks publicly about the team’s direction or personnel decisions. Blue Jackets president Mike Priest has handled those duties the past few years, though things could change as the younger McConnell takes over.

Two big ownership moves impacted the Blue Jackets heavily in 2024, as the McConnells signed off on decisions to change their hockey-operations leadership.

GM Jarmo Kekalainen was fired after 11 seasons overseeing the Blue Jackets’ roster and developmental system, while John Davidson moved from president of hockey operations to a senior-advisor role. Davidson also helped in the hiring of Don Waddell to handle the Jackets’ top two hockey positions, something Waddell had also been doing for the Carolina Hurricanes.

Another major development for the McConnell family in 2024 was seeing the Jackets land one of the NHL’s premier outdoor Stadium Series games. They’ll host the Detroit Red Wings for a March 1 matchup at Ohio State University’s famed Ohio Stadium, a.k.a. ‘The ‘Horseshoe,’ home of the Buckeyes’ football team.

The Blue Jackets are one of the last NHL teams to host an outdoor game – or to even compete in one at all – so fans are understandably excited to see their squad in action on a nationally televised stage.

MIKE PRIEST IS IN his 18th year as the Blue Jackets’ president and alternate governor, also serving as president of JMAC, Inc., the team’s parent company. Priest acts as a liaison between the business side of the company and hockey operations. He also played a key role in hiring GM-president of hockey ops Don Waddell.

The Jackets’ business side is thriving under Priest. Despite Columbus fielding one of the NHL’s youngest teams and dealing with a slew of injuries the past two seasons, those campaigns’ attendance figures were the best in two decades. Average attendance in 2023-24 (17,016) was the highest since 2003-04 (17,369), and their 15 sellouts were tied for the second-most in Columbus since 2003-04. The Blue Jackets also generated record numbers in corporate-partner revenue, which helped the Columbus Blue Jackets Foundation top $1 million in donations each of the past two years and $15 million in giving since its inception in 2000.

ALTERNATE GOVERNORS: John Davidson, John H. McConnell II, Mike Priest, Don Waddell

DON WADDELL ACCEPTED HIS dual role as Columbus’ GM and president of hockey operations in May, so, with the draft and free agency a month away, he didn’t have a lot of time to become familiar with how the team operates. Waddell decided to replace coach Pascal Vincent with former Minnesota Wild bench boss Dean Evason after expressing initial interest in former Los Angeles Kings coach Todd McLellan.

Since accepting the job, which includes his third GM role in the NHL, Waddell has worked closely with former Blue Jackets star Rick Nash in building the team’s roster. Nash received a promotion in September from director of player development to director of hockey operations. It wouldn’t be a far leap to the GM role if Waddell shifts his focus more toward his president of hockey ops title.

Waddell, Nash and the rest of the Blue Jackets organization were dealt a devastating blow in late August with the tragic deaths of Johnny Gaudreau and his brother, Matthew, who were struck by a vehicle while biking in New Jersey. The loss brought players, coaches and the front office closer together, which showed in the Jackets surprising many with a 9-9-2 start.

DESPITE ITS AGE, Nationwide Arena remains one of the NHL’s top facilities. It’s become known for the Civil War-era cannon that overlooks the ice from the building’s main concourse level, blasting once at the start of every game, after every Jackets goal and after wins. Small charges inside the cannon give the optics of fire and smoke emitting from it, but the loudest boom comes from a team of pyrotechnics experts in the rafters high above the ice.

Nationwide Arena opened in 2000 on the site of the former Ohio State Penitentiary, and it anchors the Arena District in downtown Columbus. It’s been revitalizing one of the city’s most popular areas for almost a quarter-century. It was the first NHL arena to include an attached practice rink, and the building’s upkeep over the years has included multiple renovations.

The arena is owned by the Franklin County Convention Facilities Authority, and the original cost to build it was $175 million. Recent renovations include revamped team facilities, including makeovers of the dressing room, training and equipment areas, plus the team’s meal room. A CO2-based ice-rink system was also installed for the 2023-24 season, reducing the environmental impact of the ice-making process.

The fan experience has also undergone changes in recent years, including the introduction of the Diamond Cellar Club this season. That’s an all-inclusive premium seating area with plentiful food and beverage options, plus parking in the Arena Garage. The arena’s Lexus Lounge premium area was also renovated in 2024, and 2023 saw the additions of a state-of-the-art Fan Zone plus the Wild Turkey Hat Trick Bar.

Other amenities include RFID technology to expedite checkout at The Blue Line Store inside the arena, plus a checkout-free beverage kiosk that uses Zippin Lane technology to streamline service.

$1.0B FORBES

$1.06B SPORTICO

$1.4B ROUSTAN

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