Anyone who's ever played in the most amatuer hockey scrimmage can tell you that hockey is indeed work. "Playing" is really a misleading term-- "performing" is more accurate.
Is being a professional athlete more fun than being a menial office worker? Sure. But it's not any easier. Is it essential work? No. But it is *hard* work. If it was easy, any loser on skates could make the pros.
Owners, on the other hand, do none of the work. They are making money off a product they "produce." But they do none of the work. Without the players, they've got nothing. No merchandising. No ticket sales. No revenue. Yeah, they pay the salaries. But they reap the majority of the benefits. Yes, a player might make 10 million dollars a year, plus bonuses. But how much does Stan Kronke make in a season? What has he done for the money? Has he been out there, getting hammered, suffering injuries, spending weeks away from home and family? No, he puts on a suit and signs the checks. I don't think Wal-Mart Stan has ever lost a spleen doing that.
Yes, financially, the team relies on the owner. Without his willingness to bring in players, they won't go far in the playoffs. But the owner relies just as heavily on the team. If they're not playing and playing well, he's got nothing. He provides the funding, they provide the work and create the product. That's how it works.
I just cannot buy they're not turning a profit and that life is really hard for the owners. Let me shed a tear for the billionares. If it sucks so much being a team owner, I'll gladly take the job, and they can come type memos and answer my phones.