Gee, who knew that Canadian teams charged customers in local currency? Sorry for the sarcasm, but a lot of the regulars on the business board have figured that out by now.
No. A stronger CAD alone shouldn't mean more teams in Canada. Along with all the other factors that should get considered (population size, demographics, arena and associated terms, TV and ancillary revenues), one cannot assume that the CAD will never again fall below its current value or below the USD if it surpasses it. There is some risk involved when currencies float against each other.
Ignoring that risk is foolish IF the financial case for a Canadian team requires that the CAD remain within a certain range of the USD.
All Canadian teams face that risk though, the fact that it would have to hit sub-peso levels for the Maple Leafs to be in trouble is a factor, but, no one can predict these things.
In summer of '95 the Canadian dollar was .72n US(n is variable, it was fluxuating between 7 & 9) not strong by any stretch of the imagination, the traditional level is more in the 80's. So, logically, if a team can survive at .72, then surely it would florish, as most of the time the dollar would be much higher. But, by '01, the dollar was down to .65 US. That 7 cent drop adds up fast when your in a multimillion dollar industry. And as such, even with near average attendance, the Vancouver Grizzlies could not survive.
You are right that it is foolish to expect teams to plan for 95 cents to make money, but given the historical 50 cent fluxtuation, it's difficult for any team to make long term projections.