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Preds lose money in '05-'06?

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07-28-2006, 10:15 AM
  #1
O'shizzle
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Preds lose money in '05-'06?

Hey, Nashvillians, I have a couple quick questions for you guys. Forgive me if its already been discussed.

I was listening to a local sports-talk show here in Detroit recently, and Kevin Allen, hockey writer for USA Today, was a guest. They were discussing the general health of the league. He mentioned that he could guarantee that the Preds lost money last year, and were going to receive the maximum amount under the new CBA's revenue-sharing plan...something to the tune of 12-13 million. My questions:

1. Is this true? I was under the assumption that the Preds were relatively healthy with a pretty good fan base.

2.If it's true, then what the hell is going on?

3. Is Kevin Allen wrong? He's pretty well-respected, but his publication is the
USA Today.

Thanks in advance.

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07-28-2006, 10:27 AM
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PredsMan
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I have no idea

Leipold & Co. have NEVER let anyone know how much they make/lose.

The only thing they will say, prior to the lockout is that they were "losing money".

And they always dispute the forbes report.

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07-28-2006, 11:08 AM
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Quote:
Originally Posted by O'shizzle View Post
Hey, Nashvillians, I have a couple quick questions for you guys. Forgive me if its already been discussed.

I was listening to a local sports-talk show here in Detroit recently, and Kevin Allen, hockey writer for USA Today, was a guest. They were discussing the general health of the league. He mentioned that he could guarantee that the Preds lost money last year, and were going to receive the maximum amount under the new CBA's revenue-sharing plan...something to the tune of 12-13 million. My questions:

1. Is this true? I was under the assumption that the Preds were relatively healthy with a pretty good fan base.

2.If it's true, then what the hell is going on?

3. Is Kevin Allen wrong? He's pretty well-respected, but his publication is the
USA Today.

Thanks in advance.
Publicly, Craig Leipold is pretty steadfast that the revenue sharing makes the franchise very healthy.

As predsman said, Leipold tightly guards his finances, so no one really knows things like how much they make or lose, how much they make from practically owning the arena, the value of the franchise (they dispute all reports like the Forbes report), how many season ticketholders there are, etc.

My guess is that they pretty much break even or lose a little. If they were bleeding money, I doubt he would have signed Kariya, Arnott, Zidlicky, and Sullivan to relatively big money deals over the past year. As much as many people think the franchise was/is in trouble, they’ve pretty much stepped up to the plate monetarily, as promised, over the past few years.

I think either they have a cash stream from another source (like the arena management) that make them more profitable than anyone could imagine at best or break-even at worst, hence the secrecy.

It's also possible (but not likely) that they lose money, as Kevin Allen asserts, but Leipold is so competitive and wealthy that he doesn’t care and splurged on keeping the core despite the money loss.

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07-28-2006, 11:23 AM
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triggrman
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Since all the suite, signage, parking and arena revenue fall under Powers Management, I'd say there's truth to the "Predators" losing money. Powers made a killing though.

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07-28-2006, 11:35 AM
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And Powers is Leopold's?

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07-28-2006, 11:42 AM
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Joe T Choker
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And Powers is Leipold's?
Si Senor

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07-28-2006, 11:43 AM
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I think we do lose money, and I fully believe the only reason we have elevated the payroll for two seasons straight is because we are counting on two things:

1) Playoff money
2) A LOT of revenue sharing.

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07-28-2006, 11:43 AM
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Ahh, makes sense...what a freakin' businessman.

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07-28-2006, 11:55 AM
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triggrman
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Part of the agreement with the city Leopold got he got full control of the arena and associated revenues, without the responsibility of capital or expense projects. So basically he gets the arena's revenue and the city pays for the upkeep.

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07-28-2006, 03:20 PM
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Agreed. I think the team itself may lose money...most do...but Leipold himself is doing just fine.

I think he cried poor a lot of the time to drum up support for the CBA and such.

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07-29-2006, 08:22 AM
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O'shizzle
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Quote:
Originally Posted by Enoch View Post
I think we do lose money, and I fully believe the only reason we have elevated the payroll for two seasons straight is because we are counting on two things:

1) Playoff money
2) A LOT of revenue sharing.
But don't the teams with lower payrolls get more revenue?

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07-29-2006, 08:25 AM
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07-29-2006, 09:26 AM
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Enoch
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Quote:
Originally Posted by O'shizzle View Post
But don't the teams with lower payrolls get more revenue?
I'm not sure on that, but we still had one of the lower payrolls in the league last year. I would assume that Washington was lower, but most other teams had a higher payroll than us. The only other team that I think had an initial payroll lower than us may be Buffalo.

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07-29-2006, 11:32 AM
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At the start of last season teams were under the impression that you had to stay under the "mid-point" salary to be eligable for full revenue sharing. Leipold came out around the allstar break and said that was wrong, they had made a mistake in the interpetation of the rule.

I can't find a link to an article on it now.

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07-29-2006, 06:25 PM
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O'shizzle
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Thanks for all your responses.

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