The Business of HockeyDiscuss the financial and business aspects of the NHL. Franchise sales, valuations, TV contracts, ratings, expansion, relocation, the CBA and work stoppage discussion goes here.
According to Bob Mccown on PTS the Florida Panthers and NJ Devil will declare bankruptcy at the end of the seasons. Interesting! Around the 24 min mark at the 5PM section fo the show; http://www.fan590.com/onair/primetimesports/
According to Bob Mccown on PTS the Florida Panthers and NJ Devil will declare bankruptcy at the end of the seasons. Interesting! Around the 24 min mark at the 5PM section fo the show; http://www.fan590.com/onair/primetimesports/
Devils maybe, the Panthers seem like a real stretch at this point.
Though seeing that their TV ratings didn't improve at all this season and remain beyond putrid was pretty sad
I would not be surprised their losses compare very well with the ones in Phoenix. They give away tons of tickets plus they are not even capable of selling out the first game of the playoffs.
"Accordint to Bob McCown and PTS"... look, doesnt even deserve an inch of a thread. No idea what he's talking about. Just makes stuff up to boost ratings. Total BS.
Zero credibility, anybody with knowledge at all of situation knows that Florida is not in any trouble at very least. I really doubt NJD is close to this either. what a joke.
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Zero credibility, anybody with knowledge at all of situation knows that Florida is not in any trouble at very least. I really doubt NJD is close to this either. what a joke.
For the sake of argument, we were told the same thing about the Coyotes and Thrashers. Neither were supposed to be in any kind of financial straits until of course, it came out that both were in financial straits.
I'm not saying McGown should be believed, because your right, his credibility is so-so at best and based on what we know now the Panthers should be fine. Just that we should leave the door open a tiny little bit. The franchise does have some red flags raised.
As for New Jersey, there have been several reports out of New York that suggest the franchise is struggling with arena debt, which could lead to the team being put into receivership at years end.
According to Bob Mccown on PTS the Florida Panthers and NJ Devil will declare bankruptcy at the end of the seasons. Interesting! Around the 24 min mark at the 5PM section fo the show; http://www.fan590.com/onair/primetimesports/
The Devils' problem is too much debt. That can be addressed in a bankruptcy.
The Panthers' issue is more serious and concerning, like the Coyotes. Not enough revenues for a sustained on-going enterprise.
If the two (relatively) new majority owners do in fact throw in the keys this summer, it could be another drawn-out fiasco finding a new ownership group in south Florida.
The Devils' problem is too much debt. That can be addressed in a bankruptcy.
The Panthers' issue is more serious and concerning, like the Coyotes. Not enough revenues for a sustained on-going enterprise.
If the two (relatively) new majority owners do in fact throw in the keys this summer, it could be another drawn-out fiasco finding a new ownership group in south Florida.
guess I'm a little confused-thought that they were okay because the arena was making serious money even if the team wasn't-aren't they locked into a long term (and my understanding very appealing) lease agreement?
guess I'm a little confused-thought that they were okay because the arena was making serious money even if the team wasn't-aren't they locked into a long term (and my understanding very appealing) lease agreement?
They are. The hockey team has always bled money, and will for the next 30? years, or whatever the term of the lease was (as long as its managed the way it has been). But the building its in, for which they get all revenue, is a cash cow.
They are. The hockey team has always bled money, and will for the next 30? years, or whatever the term of the lease was (as long as its managed the way it has been). But the building its in, for which they get all revenue, is a cash cow.
So why do they need the team? Couldn't the owners make even more money without the team? You'd think if the team was so unprofitable but the building is, the lease wouldn't be so much of a problem.
I'm confused. I know we have discussed the situation with NJ for awhile now, but I thought I read on this board several times that the Florida franchise was in a stable economic situation and even making money, everytime someone brought up Florida as a relocation option; or was that just personal opinion?
I'm confused. I know we have discussed the situation with NJ for awhile now, but I thought I read on this board several times that the Florida franchise was in a stable economic situation and even making money, everytime someone brought up Florida as a relocation option; or was that just personal opinion?
Florida is hemorrhaging money and needs more than a band-aid. The non- hockey operations are fine but the team itself is a serious money loser. Sort of how ASG wanted to rid themseleves of the Thrashers.
I thought Florida's new owners were in for the long haul so it is a bit surprising they may want out but not that this aspect of the business is near bankruptcy.
Travel back in time to May 31, 2011. Gary Bettman stood in Winnipeg and let the world know that if Winnipeg did not sell 15 004 tickets to each and every game at very high ticket prices that this will not work out very well. If you use Winnipeg's gate revenues as a benchmark anything below this would be unsuccessful gate revenues according to GB himself.
I would love to see 3 more relocations in the next 5 years.
As for NJ I just thought it was assumed that they would declare BK after last game of the season.
Nope, it doesn't look like it. Official capacity of the BankAtlantic Center is 19,250, while attendance last night was 19,119.
Quote:
The tweets, texts and emails started flying in shortly after the start of the Florida Panthers/New Jersey Devils game Friday night with Winnipeggers lamenting the fact there were empty seats in Sunrise, Fla.
OK, I get it. Winnipeg is a better market. We've known that for years here in our Prairie town and it was galling to have our noses pressed up against the glass while other less deserving markets were in between the ropes.
Florida Panthers team is losing money hand over fist, the ownership group that controls the Panthers rakes in money like no tomorrow. They control the team, the arena, and(if I remember correctly) most of the land surrounding the arena. As long as, at the end of the year, when all of the money is added up you're not in the red then they're doing it right.
And, as people have already said, yes the arena was pretty empty last night but when the team has been utter crap for so many years can you really blame the current owners that they didn't sell out? After this season their attendance should be up a considerable margin next year.
Phoenix has been looking for an owner for three years, Atlanta had to pack up and move (for the 2nd time) and Florida is bleeding money and can't sell out playoff games.
Yeah, the sun belt experiment has been a huge success.
Florida Panthers team is losing money hand over fist, the ownership group that controls the Panthers rakes in money like no tomorrow. They control the team, the arena, and(if I remember correctly) most of the land surrounding the arena. As long as, at the end of the year, when all of the money is added up you're not in the red then they're doing it right.
Again, and I'm not trying to be a dick, but why would they settle for just not being in the red, when they could jettison the team and probably make a lot more money? Unless I'm missing part of the equation...
Again, and I'm not trying to be a dick, but why would they settle for just not being in the red, when they could jettison the team and probably make a lot more money? Unless I'm missing part of the equation...
And further to that point I thought there were a couple of interesting points brought up in that radio discussion:
Carrying the team's losses may have worked before, but not any more in the day of the $60m payroll
Location of arena and the fact that there are 2 competing arenas in the same city like in Phoenix
Further to the second point, it was discussed how 15 years ago, the Toronto Raptors were contemplating building their own arena when they, and the Leafs both recognized that having 2 arenas in Toronto would hurt them both, hence the merger, and one arena.
This line of reasoning goes against any Markham arena concept and what some of us Hamilton dreamers cling to in the hopes that any 2nd team for southern Ontario will come to Hamilton in the already existing and updateable Copps Coliseum.
There was also McCown's 'insider' account of reputable, optimistic, wannabe owners, who want to own an NHL team (at least 2 of them) who looked at Florida and declined.
I'm not sure how some can be so certain that the Florida situation is fine with the owners making so much money aside from hockey to be able and willing to carry the NHL team.
Last edited by Hamilton Tigers: 04-17-2012 at 09:53 AM.
