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Originally Posted by Daradon
Yeah, Valo already mentioned that. I asked for clarification cause I'm not exactly sure what that means. Does that means the team owners are still on the hook for losses? Or does the NHL help offset that? (Or perhaps each deal is a little different and the public is never really privy to it?) As well, they are still in 'control' of Dallas aren't they?
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No, the Dallas sale resolved to Tom Gagliardi (former Canucks co-owner)
What I believe it means, and I won't claim expertise, is that if necessary, the league will forward revenue sharing and TV revenue payments ahead of schedule to the Devils if the team ends up with cashflow problems and is at risk of not paying the bills. (rumoured to be what happened with Dallas). The accumulating debt would remain the owner's problem, but his entire reason for selling most or all of the team is to get that under control. I would be willing to bet the incoming owner, when Bettman finds him, will be assuming some of the outstanding debt as well.
Basically, the NHL's role would be to keep the team operational while the financial issues get worked out. The Devils' owner has nearly exhausted his ability to fund and operate the team due to his debt load on the arena, and the league simply can't allow a team to collapse, especially if it were to happen midseason.