Inside a hockey empire that turned youth sports into big business

This episode of USA Today's The Excerpt investigates the rise of Murray Gunty and his company Black Bear, which has transformed youth hockey into a tightly controlled, profit-driven enterprise. Gunty, a former private equity executive, leveraged his business acumen to consolidate ice rinks and youth hockey teams across the U.S., often acquiring nonprofit clubs and replacing them with for-profit entities. A nine-month investigation by USA Today reveals serious concerns about monopolistic practices, conflicts of interest, and the misuse of nonprofit structures for private gain. Parents and players report skyrocketing costs, poor facility maintenance, and limited choices, especially in markets where Black Bear dominates. The episode highlights a particularly troubling case involving the collapse of several junior hockey franchises sold to inexperienced owners, leaving players stranded and out thousands in fees. Despite Gunty’s claims of growth and parental approval, critics argue that the model prioritizes profit over player welfare and community trust.