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05-08-2012, 03:18 PM
  #49
Stickmata
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Quote:
Originally Posted by kdb209 View Post
Take what they, and the Sharks, say with a very big grain of salt. The Sharks are always quite specific - they claim that the Sharks are losing money. They are completely silent on whether SVSE is profitable (nor how revenues/expenses are split between the two). When I explicitly asked Greg Jaimison (at a STH breakfast) about the then recent claims of Sharks losses and whether SVSE was profitable on the arena he gave me a sheepish grin while dancing his way through a no comment.
Silicon Valley Sports and Entertainment is not just the Sharks. Forbes had access to the NHL financial statements when they did their study of all the NHL teams and it was quite accurate. SVSE might be making money, but the Sharks themselves are not, and that is including game concession revenue. They could be if they cut payroll a bit. They are a break even business at best, which is actually success in terms of pro hockey team ownership. But the idea that the Sharks are making a bunch of money is ridiculous.

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