Contraction a necessary evil for survival of NHL says economist
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12-16-2012, 10:33 PM
Join Date: Feb 2002
Originally Posted by
They were in the black and made a profit with hockey.
You are aware that the debt issue is the result of Lehman Bros and the financial crisis, while investing a ton of money into a new arena. They brought in more revenue last season then the Pens are Senators, and the season before that while being awful still pulled decant revenue without making the playoffs.
What sense would it make to contract a team that is profitable and growing (as opposed to losing money and shrinking), is normally in the top ten in revenue with a + operating income, when their financial problem is too much money tied to an new arena and ownership issues? That would just mean the NHL would have to put up the money anyway, and would never get anything in return.
If anything it would make far more sense to contract the Islanders, and even that does not seem necessary given that they arent a burden on revenue sharing anyway.
*I'm guessing you're still upset about the playoffs*
What a joke....debt is not an issue on a brand new state of the art arena unless people aren't showing up the way that is expected and devil fans still don't fill the arena the way they should.
For years all we heard was the location of the old arena was the reason for their pathetic attendance, even with all the success in the mid 90s until 2003, but now with a beautiful arena right smack in the middle of a huge transit hub and people are now whining about said arena debt as the cause of the devils problems....which is it???
And with the financial woes coupled with the face of the franchise and captain Parise bolting and Zajac likely to do the same it makes for dicey times to see how NJ is able to emerge from this as a viable business going forward.
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