When it Comes to NCAA Hockey, Assets are Far from Frozen

The women's hockey team will play for gold on Thursday, February 19th at 1:10pm EST. Photo credit: USA Hockey.

At AD Vantage, we know that ice hockey is having a moment. As Reuters reported in early February about the upcoming Winter Olympics, ice hockey is selling the most tickets to fans. 

Whether the increased interest reflects the moment in popular culture or the fact that NHL players will carve up the ice for the first time since Sochi in 2014, people are lining up to see what fate Santagiulia stadium holds for Olympic hopefuls.

What stands out about the last time professional hockey players competed in the Olympics may not be the gold medal game, but the infamous preliminary match between Russia and the United States, ending in a 2-2 draw. This brought the teams to a dramatic 8-inning shootout. Renewing an on-ice rivalry from the 1980 “Miracle on Ice”, TJ Oshie captured the hearts and minds of the US, delivering the victory over Russia. Neither team would go on to medal, but the rivalry reborn at the hands of professional hockey players was certainly must-watch tv. 

On Wednesday, February 18th at 3:10 p.m. EST, the men of Team USA will take the ice in the quarterfinals against Sweden. More information on how to tune in is on the NBC Olympics site.

While the men are still working their way toward the podium, the women of Team USA are absolutely dominating the ice. They’re winning decidedly, the likes of which we haven’t yet seen on the Olympic stage. According to NPR’s reporting, the women set an Olympic record, outscoring their opponents 31 to 1, and the last five games ended in shutouts for Team USA.

We should also note that women’s Olympic performance across sports is carrying the United States medal count. “Since tying in total medals in the 2004 Athens Olympics, the women have outpaced the men in every Summer Games since. On the winter side, Milan Cortina is continuing the trend, with the U.S. women edging the men in the medal count for the past two Olympics after tying in Sochi in 2014,” according to Sports Business Journal. If Olympic performance is a harbinger of things to come for investments in women’s sports, it’ll be interesting to see what LA28 has in store.

The women’s hockey gold-medal game will take place on Thursday, February 19th at 1:10 p.m. EST against Canada. The United States met Canada earlier in the games and beat them handily, 5-0. 

Carving a New Path

It’s not only the Olympics that are reinvigorating ice hockey. A November 2024 ruling delivered a huge victory for NCAA hockey, allowing major junior hockey players in the Canadian Hockey League (CHL)to be eligible to compete in collegiate hockey. The CHL had been the long-standing feeder into the NHL. Before this ruling, “They (CHL players) previously were barred and considered professionals because they were competing against players who had signed NHL entry-level contracts,” according to the NHL. With this rule change and the earning potentials that have opened up with NIL deals, NCAA hockey will have bigger recruits, better talent, and potentially become a stronger pipeline to the NHL.

From the Rink to Revenue

So with such a renewed interest in the sport, what data does AD Vantage have to offer that may surprise you?

In a world where collegiate sports change at the drop of a puck, and having access to real-time data makes a critical difference, Athletic Directors need access to data to navigate the priorities and pain points for their program. 

In the NCAA, there are 64 men’s teams and close to 44 women’s teams.  Member institutions may compete for a National Championship in the tournament known as the “Frozen Four” (yes, this marketing is elite). While it may not generate as much popular interest as March Madness’ “Final Four”, that doesn’t mean that it’s not well supported.

Here's a look behind the curtain:

Data courtesy of AD Vantage

Let’s take a look at current Team USA men’s hockey players’ alma maters and the financial investment into their programs:

University of Minnesota- Twin Cities

Brock Faber currently plays on Team USA as a defenseman and attended the University of Minnesota. He played for the Gophers from 2020 to 2023. 

In the 2025 season, University of Minnesota Athletics invested $ 7 million in the program and saw positive returns on its investment.  They were the second-highest revenue-positive sport after football, totaling 2.7 million dollars in returns. Head Coach Bob Motzk deserves a nod as well. He delivered a CoachEffect score of 75.46, ranking him 2nd among NCAA Men's Hockey coaches in our comprehensive analysis, beyond wins and losses. For more details on what the CoachEffect entails, you can explore here – CoachEffect Rating System. This rating puts him in the 97th percentile of coaching, a signal that the money invested in the program and the coaching staff is money well spent. 

University of Michigan

Zack Werenski, also a defenseman for Team USA, played for the Michigan Wolverines from 2014 to 2016. 

Similar to the University of Minnesota, ice hockey ranks as the third-highest revenue-generating sport in the athletics program, behind Football and Men’s Basketball. 

Head Coach Brandon Naurato delivers a CoachEffect score of 73.46 and is in the 90th percentile of coaching. He has the most wins of any first-year Michigan head coach, led the team to a Big Ten Championship title in his first season, and has led the Wolverines to back-to-back Frozen Four appearances. Another prime example of how the data backs this coaching investment is paying off. He signed a new contract in January that keeps him in Ann Arbor until 2030.

University of Connecticut

Tage Thompson, a forward representing the US in the 2026 Olympics, laced up for the Huskies from 2015-2017. 

Something that stands out differently about UConn over Michigan and Minnesota is that the women’s basketball program slides up the revenue ladder ahead of hockey, making men’s ice hockey the fourth most funded program. 

With Head Coach Mike Cavanaugh at the helm, player development has been somewhat of his specialty. He has developed 18 NHL draft picks, including UConn's first-ever first-round selection (you guessed it), Tage Thompson. Under his leadership, UConn achieved its highest-ever national ranking at No. 6 in 2022-23 and recorded back-to-back 20-win seasons.

Miracle Momentum?

Admittedly, ice hockey can be a blind-spot sport for those who didn’t grow up with access to it. It’s clear that it’s here to stay, and it occupies a place in Olympic lore both past (here’s looking at you, Miracle) and present with the absolutely record-shattering performance of Team USA women’s hockey. 

No matter what it means to you, the Athletic Directors who are responsible for these programs need to find a way to ensure their financial investments can sustain the test of time. 

With renewed interest in the sport, the Women’s Frozen Four is scheduled for late March, and the Men’s Frozen Four coming up this April, it will be worth wondering if programs can capitalize on the public support and interest on the heels of this historic Olympic series.