"Theoretically, we are one of the most profitable teams in the league," [Flyers Chairman Ed] Snider said. "But we are losing a bloody fortune this year. The Philadelphia Flyers will lose more money this year than ever before in our history, unless we go to the Stanley Cup Finals. The salary structure is way out of whack."
Is he losing money based off of last years profit numbers or is he not turning a profit this year at all??
there's a big difference.
Alot of businesses claim to "lose" money when their profit margins decline from year to year. It doesn't mean they actually lost money, just that they didn't make as much or more than the previous year.