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CDN $$$ vs US$$$ Does this change...

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12-05-2004, 11:02 AM
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BLONG7
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CDN $$$ vs US$$$ Does this change...

Anything for George Gillette as far as his thinking CAP vs Luxury Tax??? Obviously the new found strength of our $$$ has helped all of the CDN franchises, but will it change GG's or any of the CDN owner's minds about going with a TAX instead of a CAP?

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12-05-2004, 11:13 PM
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A cap gives them a fixed budget at a predetermined rate whereas a luxury tax gives them a more flexible budget which can quickly get out of control if not managed properly in an attempt to compete with larger market teams for players, so I'm pretty sure that they would rather have a cap than a luxury tax because then none of the larger market teams would be able to push payrolls higher by throwing money around like idiots (hello toronto/NYR)

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12-05-2004, 11:18 PM
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SuperUnknown
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Quote:
Originally Posted by BLONG7
Anything for George Gillette as far as his thinking CAP vs Luxury Tax??? Obviously the new found strength of our $$$ has helped all of the CDN franchises, but will it change GG's or any of the CDN owner's minds about going with a TAX instead of a CAP?
The problem for Gillette is that while he pays less for salaries, his loans cost him more than before.

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12-06-2004, 01:11 AM
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Quote:
Originally Posted by Smail
The problem for Gillette is that while he pays less for salaries, his loans cost him more than before.
That all depends on what currency the payroll is in, and what currency the loans are in. I don't know the answer to either of those questions. I would guess US for the payroll (good) and Canadian for the loan (bad) but I really don't know.

The big advantage here though is that revenues are up guaranteed for the club, because all of their revenues are in Canadian dollars.

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12-06-2004, 06:00 AM
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Quote:
Originally Posted by Squeaky
The big advantage here though is that revenues are up guaranteed for the club, because all of their revenues are in Canadian dollars.
The Big Problem is that their is no REVENUE right now. and God knows (to take an american expression) waht would be the exchange rate when we will see hockey next time. So to resume.. the dollar is hurting him big time right now because most of his revenue (other investments) are in US Dollars and it's not the Canadian dollar that is skyrocketing... but the Us dollar that is falling.. like anything else there...

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