Canadian dollar is forecast to drop to 86 cents in 2013.....Goona be some air let out of NHL tires.
To be fair, those are just forcasts and adjusted regularly. Also, most forecasts are incorrect the vast majority of the time. 2 years ago, the interest rate in Canada was said to be to 3.75% by now. In actuallity it hasn't moved.
Also, goven the turmoil in the World and Canada being a "safe haven" foreign money continues to be invested in Canada.
On top of that, we have a resource dollar. So as long as Global economy expands and there's a need for natural resources i.e. oil, nat gas, gold, coal, nickel, copper etc than the Canadian dollar should be just fine.
The biggest hinderance to the dollar is the USD going up and with the pace that they're printing money and their sluggish economic outlook, it may not happen for some time. I do agree that it will happen eventually but there are several hedges already on place by the Canadian teams to take advanatge of a dollar movement in either way.
So while currency can be an issue, it likely won't be the ridiculous $0.62 it was in the past. Even if the CAD does drop it will likely be int he mid 80's as you pointed out. Even at that, most of the revenue driver's in the NHL are Canadian teams which means they can likely outspend most US teams if they had to with a reduced CAD.
Bottom line, don't worry too much about currency. It's far away and even if it does happen, it likely won't be as big deal as you're making it out ot be.
If this were only true. My american bills would buy me a condo in Brossard.Or wait till that arena is open in Laval. woo Hoo!!!!!!!
Yeah really, even though I don't live in Montreal anymore I travel to Canada regularly and my bank account hasn't liked it at all.
Don't see an early 90s situation happening at all though, the US dollar might be strengthening but the US economy still has a lot of issues and with Europe a complete mess, the Canadian dollar is still considered safe.
•Andy Strickland via twitter: The salary floor will be $54 million, and is one reason why half the league is losing lots of money. Owners will want the cap to come down and revenue sharing to go up.
I'm sure the owners want the cap to come down, but I'm not so sure about them wanting to share more revenue. If the cap comes down by $5 million, but Geoff Molson has to give away an additional $5 million to his fellow NHL-owner-billionaires, then I'm not so sure he's going to be keen on that idea.
SOME NHL teams will want more revenue sharing, of course, but the powerful ones, the ones that control Bettman, will not. The middle tier teams... well who knows? If you're an up and coming market like, say LA, then you'd want to avoid the revenue sharing plan as you could be paying into it in a couple of years. If you're a market that might be on the downswing, like, oh I don't know, Anaheim, you might be all for it. If you are an owner, where do you see your team in five years?
Teams need to be very careful with this cap increase. There will almost certainly be a drop in the cap after a new CBA is negotiated and teams that spend unwisely this week could potentially be in alot of trouble. There is a strong likelihood that there would be an amnesty clause that would accompany a drop in the cap but there aren't any guarantees.