NHL to Expand 2 teams in Canada - THN
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10-12-2012, 07:10 PM
Join Date: May 2009
Location: New Orleans
Originally Posted by
I thought they lost over $25 millions the year before the bankruptcy? (unless they went bankrupt the year before?)
Also while they lost $24.1 million in 2011, if they didn't receive the $25 million subsidy from Glendale they would have lost $49.1 millions. Even more if there was no revenue sharing.
See: Accounting Practice discussion. Moyes gave $13 million of the Coyotes money to another company he owned to lease office space (from himself) when there was more than enough room in the brand new arena for everyone.
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