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The Salary Cap

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Old
06-27-2006, 02:30 PM
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HCH
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The Salary Cap

Teams will need to be careful if they are projecting the salary cap will continue to rise. Probably the biggest contributor to the increased revenues was the exchange rate between the Canadian and US dollars.

It is doubtful that the C$ will gain another 20% on the US dollar this year.

I think Gainey is smart to give himself some breathing room... because the cap could drop in the future.

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06-27-2006, 03:43 PM
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All the salary are in USD , the only difference is that Gillet makes more money when the Canadian $ is strong .

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06-27-2006, 04:51 PM
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Quote:
Originally Posted by Jozeph_Balej
All the salary are in USD , the only difference is that Gillet makes more money when the Canadian $ is strong .

Yes...but the exchange rate is really important when you make your money in canadian dollars and pay salaries in USD. And people should stop crying about Gillet making money.....that's what he's in buisness for.

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06-27-2006, 06:32 PM
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Quote:
Originally Posted by Jozeph_Balej
All the salary are in USD , the only difference is that Gillet makes more money when the Canadian $ is strong .
Sorry but you are wrong. The league revenues are calculated in terms of US dollars. When the Canadian dollar is strong, the revenues from the Canadian teams in US dollar terms are higher than when the dollar is weak.

All else being equal, the league would have had a 20% increase in revenue over the 2003-04 season from the six Canadian teams because of the improved exchange rate.

Since the salary cap is based on the US dollar revenue from all of the teams, the currency exchange rate is a significant factor. While revenues could likely still climb, it is doubtful that the exchange rate will have the same strong impact that it had this year.

Ahhh.... never mind. I'm just happy that Gainey is leaving himself some breathing room.

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