All of this is true but sports leagues are somewhat different. They are closely-held oligarchies whose members rely on each other in a myriad of ways. Yes some of them can be impervious to peer pressure but it tends to not work out too well in the long run. Dan Snyder being the most recent example but there have been several instances in the NBA where owners have pressured other owners to make changes and even forced buyouts. The league suffers if a hockey market like Buffalo fails - and that is not an unlikely scenario at this point given brand value, fan apathy, a rising salary cap and a fragile local economy.