Regarding the lockout, did the league just make a fatal error???
Hi all --
I just read a very interesting quote from the league:
Bettman acknowledged the step the players took in submitting a full proposal but lamented that the league is losing $18 million to $20 million per day during the lockout. He said the players, collectively, are losing $8 million to $10 million a day.
As I understand it, much of the argument during the lockout has been over how to split the revenue, and furthermore, exactly how "revenue" is counted...
As I understand it -- the players have been getting 57% and the league 43%, with more of a 50/50 split likely to occur. My question though is, if the league is, as Bettman stated, losing 18-20 million per day and the players 8-10 million, then by my calculation this suggests that the total revenue is 26-30 million, and the league is getting roughly 2/3 of it...
Is my understanding off, or did the league just reveal that they are actually getting 2/3 of revenue, not 43%????
Ragamuffin, perhaps you are correct, that he meant the total league revenue is roughly $20 mil per day, out of which comes the players's cut. But, even at that...57% of $18 million is $10.26 million; 57% of $20 million is $11.4 million. So, with revenues of $18 to $20 million per day, per Bettman's numbers, then the players should be losing between $10.26 and $11.4 million per day (the 57% number)...not $8 to $10 million as Bettman stated.
Perhaps there is nothing there, and I'm making a mountain of a molehill. But it sounds as though, in my mind, he -- perhaps without meaning to, or realizing what he was saying -- has just revealed that, in fact, the true revenue numbers and the percentages are in fact NOT what the owners have publicly claimed them to be, JUST AS THE NHLPA HAS BEEN ACCUSING...
Using his numbers, if the players are losing $8 mil per day, and if "league revenue" as he is defining in that statement is $18 mil per day, $8 mil (his number for the players' cut) out of $18 mil is only 44.4%...if the numbers are $10 mil out of $20 mil, then it's 50% players' cut...NEITHER of which is the 57% which was supposed to be the players' cut based on the last CBA...hmm.