They can survive without cutting teams if they relocate some. You turn a 3 or 4 dogs into viable franchises (financially) and that's a HUGE lift for the league. I don't have actual numbers, so I'm probably talking out of my ass, but I would argue that NHL revenues and market share is increasing.
By the way- I live in Northern California and I can tell you they have a strong fan base. The Sharks may not have national appeal (you won't see many Sharks fans in the Northeast, like you might see a Red Sox fan in California)- but regionally they are doing just fine.
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Life is just blah, blah, blah
You hope for blah
And sometimes you find it, but mostly it's blah
And waiting for blah
And hoping you were right about the blahs you made
And then, just when you think you've got the whole blah'd damn thing figured out
And you're surrounded by the ones you blah
Death shows up... anddd blah, blah, blah.
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