How does the Canucks 50% sale affect Bettman's credibility??
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11-23-2004, 11:47 PM
Join Date: Jan 2003
Location: Coquitlam, BC
Originally Posted by
Call me suspicious about some of this profit the Nucks are supposedly making. They went from losing $20m per year to making $25m per year. I don't see where they are getting that $45m turnaround. Forbes has them pegged at making $1.3m before loans and depreciation. Which is it? Orcabay may have shifted profit from the nucks in dark years to make it look worse. Now that they are wanting to sell the team they shift the profit to the Nucks to make them look more valuable to buyers, but this lowers the Orcabay revenue. How much they are shifting around revenue is hard to say, they might not be shifting any around at all and they may in fact be $45m better off. The dollar going up, full houses, better TV revenue, playoffs certainly help, but $45m is a lot to account for. It'd take a closer inspection to find out exactly.
These are the reasons you end up with a system like the NBA which calculates based on formulas rather than exact figures.
Thats actually a $63m turnaround.
How much do teams get in revenue per game assuming the game is sold out? I think Burke said something close to a million? In the dark years, between 96 and 99, the Canucks averaged something like 12-14k per game? GM place holds almost 19k, so when you factor in home games for the Canucks have sold out for the past two years, plus playoffs (helloooo skyrocketing ticket prices), it can be possible. Let's not forget the payroll of the Canucks under Quinn was among the highest in the League at one time. Then there's the SportsAction type deal that Burke managed to get the Canucks, so there's a boost in revenue too.
However, it depends what you consider hockey revenues. There could have been some creative shifting by Orca Bay, since they have other ventures besides the Canucks. Sorta what has been rumoured to be going on with the Rangers and CableVision.
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