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CBA Negotiations II: This is the song that never ends...
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11-16-2012, 09:35 AM
Join Date: Oct 2007
Originally Posted by
I see what you are saying, but Gary Bruce Bettman went on TV and said the NHL made record profits last year. How can you ask your employees to give money back when you claim your company made record profits?
Because the NHL is actually 30 different companies where the top few make a majority of the profits. According to Forbes, the Maple Leafs, Canucks, Oilers, Rangers and Canadiens actually had operating profits (EBIT) of $212M. The other 25 teams lost $86M. So when you combine them all together the league acutally made 126M in profits, which may be a record, but put into context isn't really a pretty picture.
I will admit that a team like the Flyers isn't really there to make a profit, but to simply break even or possibly (I say possibly because I don't have access to their books) be used as a tax shelter for profits. But not every team is like that.
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