Quote:
Originally Posted by Vulcan
Grump indeed, I know in your drunken fog it may be hard to follow along, but try. T he NHL lost $112.7M in operating the Coyotes plus they spent $140M for the franchise plus $10M in court costs. They sold it for $170M, so they are on the hook for $92.7M. The Coyotes have lost money every year they've been in operation. Not only that but the NHL had to loan the new owners $85M. Looking at the recent attendance, I'll be surprised if these new owners can last for 5 years.
Bettman's job should be to do what's best for hockey. I realize he isn't up to that though.
http://en.wikipedia.org/wiki/Phoenix...to_Renaissance
oh yeah, I forgot about the yearly maximum revenue sharing which the Coyotes have been promised.
http://www.forbes.com/sites/mikeozan...funded-by-nhl/ |
And Glendale City Council reimbursed them $25M per year to stay. Maybe what a lot of us don't know was the original lease situation when the NHL took over the team. Maybe, and I don't know, but the lease in existence at the time had huge penalties for moving as the city basically built the arena with guaranties from Elfman and his group years ago when they planned to develop the area. If that is the case then the only way the original lease could be changed was for the team to be sold to new owners who negotiated their own lease, which was done this year.
There are so many factors that we as fans know nothing about it really makes no sense to get upset about the Phoenix situation. And for all of the fans saying Bettman could have moved the team to a places that would sell out every game, where are these places? Richard Peddie was just on OTR and said a second NHL team in Southern Ontario probably wouldn't succeed and specifically mentioned Hamilton. He said they couldn't generate enough revenue to change the leagues financial picture.
One last point, Bettman didn't move the Jets to Phoenix. That was agreed upon before he was hired. If you want to blame someone for the team being there then blame the other owners.