Islanders Ownership Future
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02-14-2013, 01:25 PM
Join Date: Dec 2003
Originally Posted by
The truth is we do not now, nor will we ever know, how much Wang is losing if he is losing at all. The numbers thrown around about his losses come from Wang and his camp, so they are pitching the most dire situation they can, and based on how he cooked the books at CA I am positive those numbers are al made up. I believe they did this initially to gain public support for the Lighthouse Project, kind of taking a woe is me approach. I find it funny now that all that has failed and the move announced you don't hear about his losses anymore. Just one of those things that make you think.
It is completely in a fog and that's just how they want it to be. The spin doctors did their job well.
To your point, no owner would or could continue to own a franchise that loses $20M a year. There is no way.
I believe he may run at a loss but I would be surprised if it were more than a million or two annually.
You could consider Forbes is a leading industry publication for financial news and studies and said he was as loss as $4M in the hole one year, as high as $12M. And Coliseum revenue unrelated to hockey was not reported as income.
But....who gives a ****. Ilitch in Detroit loses tons on his building yet spends a fortune to bring in good to great talent and fills the building every night for YEARS (in a bad economy, in the worst area in the country, he stopped selling out}.
He made mega playoff bucks, he sold tons of merchandise, you name it. But HE WAS LOSING MONEY BEFORE HE DID THAT!!!! HOW????? HOW COULD HE SPEND MONEY ON A BUSINESS IF IT WASN'T MAKING MONEY YET?????
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