Success of "Air Force One" Allowed Colorado Avalanche To Match Offer Sheet

Published on August 4th, 2024 2:20 pm EST
Written By: Dave Manuel


On August 7th, 1997, Joe Sakic signed a 3-year, $21 million offer sheet with the New York Rangers.

Joe Sakic, who was still just 27 years of age, was a superstar. Sakic had posted 100+ points four times in his career up to that point, and had notched 51 goals the previous year.

The Rangers, who were flush with cash and looking to win another Stanley Cup, thought that they would structure the Sakic deal in such a way that the Colorado Avalanche couldn't possibly match it.

Comsat, who owned the Avalanche at the time, had divested the team to its entertainment arm, which was called Ascent.

The Avalanche were losing millions of dollars per year, and the team desperately needed a new rink. The Rangers correctly figured that the Avalanche would be reluctant to match a contract for Sakic that included a large chunk of money up front.

The Avalanche offered Sakic $21 million over 3 years, with $15 million included as a signing bonus.

This meant that if the Avs wanted to match Sakic's deal, they would have to shell out $17 million over the course of just 12 months.

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Ascent had financed a movie called "Air Force One" that starred Harrison Ford. Ascent was hoping for a hit, as they had a string of misses and were losing piles of money.

"Air Force One" was a major hit for Ascent, as the movie ended up making over $300 million at the box office.

After expenses, Ascent ended up making nearly $70 million from the movie.

The early success of "Air Force One" provided Ascent a bunch of money for its coffers, and they elected to match Sakic's contract.

In addition, Ascent now had the money to pursue a new arena in Colorado, which they eventually secured, turning around the finances of the team.

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If not for the success of "Air Force One", the Rangers likely would have signed Sakic.

Would the Rangers have won another Stanley Cup with Sakic on their team? Would the Avalanche have won another Stanley Cup in 2001?

These are some of the great "what ifs" that swirl around Joe Sakic and his infamous offer sheet from the New York Rangers.