Toews, Wirtz, and Bettman
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10-05-2012, 08:12 AM
Join Date: Aug 2005
Are the Hawks still paying back the huge amount of money that the Wirtz Corporation loaned them in the late 90's early 00's? That's the only way the Hawks are 'losing' money.
The cash is going from Wirtz's left pocket to his right.
Hawks make $10m operating profit.
Hawks pay back $15m to Wirtz Corporation.
Hawks 'lose' $5m.
Those aren't exact numbers but you get the point.
This creative accounting gives Wirtz and Bettman some more ammo for the CBA negotiations. The problem for them is only an idiot would believe it.
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