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09-25-2004, 09:13 AM
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in '02-03 four teams combined for $142 million in losses. I read somewhere (I think it was Forbes) that St. Louis lost an estimated $25 million ('02-'03). I've also read that the Rangers lost $40 million ('03-04). I've also seen that Chicago is one of the top money-losers. Add it up and likely you have a situation where the wealthiest owners (and perhaps higher-revenue clubs, sans Chicago), are losing the most.And of course, this is what Cablevisoin has said publicly 'The Collective Bargaining Agreement (CBA) between the National Hockey League and the National Hockey League Players Association expires on September 14, 2004. Unless a successor CBA is reached by the expiration date, or the parties agree to extend the term of the CBA, it is possible that the 2004/05 season may not begin as scheduled and this in turn may result in a shortened or canceled season which could negatively impact operating results.' Source: page I-23

Again, how can results be negatively impacted if you've lost $40 million? Because of cross-selling and accounting tricks that you cannot see. So personally, I cannot trust one number in the Levitt report on what teams lost and how sorry a position financially these clubs are in. It's not good, I am sure, but it's likely not as bad a picture that's being painted.

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