Quote:
Originally Posted by GioforPM
Edwards is a CEO who views company fortunes personally. So yeah, he watches expenses carefully. So while he doesn't open his own wallet, he does tend to be careful about expenses.
As far as revenues v expenses, the Flames are borderline as far as profits and losses go every year. Long term, it's I suspect they still have not made up losses from COVID. With the arena they are guaranteed to be in the red again. I do know the Oilers make 3 times the revenue of the Flames and I doubt they have three times the expenses.
And even if they are profitable ow, they either are afraid they won't be or want to be more profitable. It's a business, not a charity. So while you can scoff about concern over ticket sales , IMO that's foremost in their mind.
I know for a fact people are cancelling seasons tickets even though they know why a rebuild is necessary. They just don't want to pay $16K a year to watch bad hockey
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Don't forget the Oilers also get to skim from their Foundation so they're making even more money than we think.
The Flames will soon be worth $2 billion. Didn't Murray pay under $20 million for the club in the 80's? While he doesn't want to lose a bunch of money operating the thing, owning a pro sports team is more like owning a rare collectible. You enjoy owning it while also getting incredible appreciation in value. This fact gets conveniently forgotten when owners ask taxpayers to subsidize their business.
I wonder what his succession plan is? More than one pro sports franchise has been ruined once the idiot kid takes over.