Interesting how Pens all of a sudden have $25 million for Gonchar, however many million for Recchi... weren't they on the brink of bankrupcy in the 03-04 season? And I doubt that the lockout was of much help financially.
It's as I have said for a long time. People looked at Levitt's report like gospel, not realizing that all he was doing was reporting on the numbers that were provided to him by the owners themselves. All of these franchises on the verge of bancruptcy, and yet not one recieved a "Going concern" paragraph on their audited financial statements. The owners created the books the way that suited for them to appear.
A salary cap is not going to create extra revenue streams. Pitt spent, what around $20-21M last year? And this year they are heading towards a payroll around $30m? Amazing. During a year that they took in no revenue, they suddenly come up with an extra $10m.