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NHL claims 300 million in losses

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Old
09-19-2003, 12:40 PM
  #1
NJDevils#4
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NHL claims 300 million in losses

This obviously impacts the CBA

http://sports.espn.go.com/nhl/news/story?id=1619309

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09-19-2003, 04:33 PM
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JasonMacIsaac
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NJ lost 10% of that 300 million.

 
Old
09-20-2003, 11:47 AM
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Originally Posted by JasonMacIsaac
NJ lost 10% of that 300 million.
I'll believe the owners when they open the books.

If millionaires were losing millions in sports, they'd have sold/folded their franchises ages ago. The rich don't get rich by watching $30,000,000 go out the window and trying again the next year. They get rich by doing business responsibly and they stay rich by cutting their losses as quick as possible.

If you were a majority owner and your franchise lost $30,000,000 in ONE year, would you be back the next year under the same circumstances to lose another $30,000,000? No. Pro sports franchises are not toys and very few owners like to see their money go out the window.

This isn't a targeted interrogation here. I'm questioning the media that actually prints this. Owners are not losing this much money. If they are, they can open their books to the media and prove it. Then I'll eat my hat.

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09-20-2003, 01:42 PM
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Quote:
Originally Posted by PEli
I'll believe the owners when they open the books.

If millionaires were losing millions in sports, they'd have sold/folded their franchises ages ago. The rich don't get rich by watching $30,000,000 go out the window and trying again the next year. They get rich by doing business responsibly and they stay rich by cutting their losses as quick as possible.

If you were a majority owner and your franchise lost $30,000,000 in ONE year, would you be back the next year under the same circumstances to lose another $30,000,000? No. Pro sports franchises are not toys and very few owners like to see their money go out the window.

This isn't a targeted interrogation here. I'm questioning the media that actually prints this. Owners are not losing this much money. If they are, they can open their books to the media and prove it. Then I'll eat my hat.
All valid points PEli. I agree, but still think there are some problems, I mean just take a look at Buffalo, Pittsburgh and Ottawa. I think the CBA will either ruin the NHL or boost it to a new level. I don't see anything inbetween happening. Lets hope for the latter.

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Old
09-20-2003, 01:43 PM
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The last sentence written in the AP article is worth noting:

"The NHL locked out players for 103 days in 1994 and reportedly has assembled a $300 million war chest as it prepares for contract talks."

If the NHL can afford a hefty $300 million war chest as it prepares for concessions from owners and players alike, is it really in as financial dire straights as its been reported to be?

 
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