QCSV spent $1M on the franchise fee, $1.5M on renovations to the arena and was in the hole about $0.5M last season in operating expenses (my guess based on the assumption they needed 4000 fans to break even but averaged just 3500 fans at $25 per person, per game for tickets, concessions, parking etc)
So they've sunk ~$3M into this so far; given the current average attendance of 2700/game, they could lose another $1.3M this season
The Omaha Knights lost $4M before they moved, so things certainly don't look good.
Having said that, the Calgary Flames only pay player salaries and related expenses; QCSV is on the hook for all business operating expenses, so the survival of the Flames in QC really depends on QCSV pocket book. They are in the second year of a 5 year deal; given the previous failed attempts to bring AHL hockey to QC, I can't see QCSV cutting their losses just yet.
Ultimately, the on ice product will go a long way to keeping this team in QC; fans want to see winners; if they can get into the playoffs this year and have 3+ sold-out/big crowd playoff games and a simulataneous season ticket drive that drastically improves on their current season ticket base, QC Flames will survive
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