KHL Expenditures, Sustainability, and the Looming Economic Crisis
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11-28-2008, 03:50 AM
Join Date: Dec 2005
props to Kedr
Sport-Express interviewed all KHL clubs asking about their problems because of financial crisis.
(the only team who refused to speak with Sport-Express. From other sources: players just received their money for September. Rumors that base sponsor Evraz Group rejected financing MNk and there even
possibility that the team will not play in KHL after the New Year
(CEO: "I can say frankly: the crisis greatly touched our team.
We have delays in paying our players
. Luckily our sponsor VTB bank accomplishes all their obligations and I hope it can help us");
(team has debts in paying players, CEO: "
we are struggling
, I hope we'll come out");
(CEO: "The crisis forced us to revise many questions. Situation is not easy. We have the main task now - to
save the team
and accomplish our obligations to players and staff.");
(Magnitogorsk Steel Factory, MMK, like all other steel companies in the world, suffers greatly from the crisis. Team CEO: "players receive their money fully and without delays but other
staff is cut in salaries for about 30%
short delays in receiving financing from sponsors
; begins saving money);
(president: "We have no delays in paying salaries but it's
for us. We wrote a letter to KHL asking to prepare anticrisis procedure for the league");
(GM: "We feel no problems yet but
our sponsors recommend us to save money
(president: "All sponsors in Russia have some difficulties. I cannot predict the situation in our club. Right now we accomplish our obligations to players completely." From other sources:
Roman Abramovich promises to support the team but only if Avangard will show positive results
(president: "We feel crisis as we are part of Latvian economics. Though no panics. Our partners fully acomplish their obligations.
We are not happy how things in KHL do with TV, advertising rights
etc, we have to discuss these problems with the league and develop strategy.")
this is the problem when you rely on corporate sponsorship to run a team. it needs to be viable in the first place, and now they are learning the hard way.
Last edited by Majik1987: 11-28-2008 at
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