Edmonton Journal: Why do billionaires keep buying teams that lose money?
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11-19-2012, 03:02 PM
Join Date: Sep 2004
Location: North of the Tank
This was discussed today on HNIC with author (SXM). (So check the CBC website as there may be a podcast available.)
Summary I got: there are few NHL "teams" that make a profit, but if you include the ancillary business of arena management, the combined business can have a good chance of at least breaking even (if not turning a profit). Also mentioned that Edmonton currently paying $1.00/year in rent and help in paying some of the building costs (electricity?) for hockey games.
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