Free Agency & General Offseason Thread Part IV: Will there be NHL hockey this year?
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08-13-2012, 02:29 PM
Join Date: Aug 2009
Location: Ottawa, ON
Originally Posted by
This statement is just not correct.
In 2011 the Sens had a operating profit of $2.8M, the 2012 numbers aren't available however it is safe to say the operating profit was even higher than 2011, given lower salary expense and playoff revenue.
From 2002-2011 the Ottawa Senators have shown an aggregate profit of $9.5M. Definitely not a lot of money, but still in the black.
However before you feel too sorry for Melynk, he also owns the wholly private Senators Sports and Entertainment, and financial reporting is unavailable. This company books all revenue from non-related hockey events at SBP, as well as shared revenue from the partnership with Capital Tickets. Probably safe to assume this company is making an annual profit.
As well Melnyk invested $92M to buy the franchise, the latest evaluations ~$201M.
Ottawa Senators hockey has/is doing just fine for Eugene financially.
BOOM! There you have it.
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