Coronavirus and sports

[Patek23]

Originally Posted by ricardodw

Who only rational reason for investing in the team was to have a franchise to relocate to a more profitable city. Thompson doesn't owe Winnipeg anything.

According to Forbes (dec 2019) the Jets lost 7.7 M on the $420M asset . Murray Edwards made 3.6 M on his $500M asset. There are 10 players on the Flames that made more on hockey than the owner.


Edwards is avoiding paying Calgary and Alberta taxes by relocating to London England.

Your aware that being a sports team owner is like owning a blue chip stock. That 3.6 million “profit” is more like his dividends payment for the year. The true value to these owners comes from their yearly appreciation in the teams value.

[Phaneuf_Phan]

I finished the rest of the Flames season on xbox- it wasn't pretty

[Patek23]

Originally Posted by simmer2

You can't lay off athletes with contracts, but you can lay off part time employees.

It isn't fun for these companies to do, but their responsibility is to ensure the long term viability of the business.

Just because the guy is a multi-billionare, that means he should not do what is in the best interests of the corporation long term?

Are you mad that Westjet is having to lay off 50% of their staff to continue to be a viable business?

WestJet is a publicly traded corporation. It has an obligation to its share holders to do what’s best for their bottom line. It is not comparable to a privately owned sports team that receives handouts. Can you tell me how much funding WestJet receives on a municipal, provincial or federal level by the way?

Your comparison is brutal.

[White Out 403]

Originally Posted by ricardodw

Whose only rational reason for investing in the team was to have a franchise to relocate to a more profitable city. Thompson doesn't owe Winnipeg anything.

According to Forbes (dec 2019) the Jets lost 7.7 M on the $420M asset . Murray Edwards made 3.6 M on his $500M asset. There are 10 players on the Flames that made more on hockey than the owner.


Edwards is avoiding paying Calgary and Alberta taxes by relocating to London England.

Jets have made a profit 7 years in a row, and this is the 1st dip into the negative. I don't anticipate it will last very long. In that time frame the Jets value has gone up by 300ish million dollars. I don't forsee any of the owners cashing out anytime soon

[ricardodw]

Max EI benefits to what they make at their part time job at Rogers.

Since most of these folks will not be going on EI unless their other job shuts down that will not cost the Oilers a lot.

[Schraderbrau]

Originally Posted by nik-

Did every business in the world just get a fat taxpayer cheque from the community as well? Partially by leveraging and playing on the heart strings about how much they do for said community? This organization can go #### itself.

And now it's the players that are the problem? I mean come on.

I can see there are a lot of people on the internet right now typing with their hearts and not their heads. I get it, it’s hard to look at the situation from all angles, and it’s very easy to simply start throwing rocks at the Flames organization and those who try to look at the situation in its entirety. I for one feel sorry for both parties, the Flames organization and the hard workers of that organization. I feel zero sympathy for the players while they continue to get paid. Good day now.

[nik-]

Originally Posted by Schraderbrau

I can see there are a lot of people on the internet right now typing with their hearts and not their heads. I get it, it’s hard to look at the situation from all angles, and it’s very easy to simply start throwing rocks at the Flames organization and those who try to look at the situation in its entirety. I for one feel sorry for both parties, the Flames organization and the hard workers of that organization. I feel zero sympathy for the players while they continue to get paid. Good day now.

It's actually not that hard

[Lanny'sDaMan]

Originally Posted by flaminghomer

WestJet is a publicly traded corporation. It has an obligation to its share holders to do what’s best for their bottom line. It is not comparable to a privately owned sports team that receives handouts. Can you tell me how much funding WestJet receives on a municipal, provincial or federal level by the way?

This is not true anymore. They are privately owned by Onex and are no longer a publicly traded company.

[ricardodw]

Originally Posted by White Out 403

Jets have made a profit 7 years in a row, and this is the 1st dip into the negative. I don't anticipate it will last very long. In that time frame the Jets value has gone up by 300ish million dollars. I don't forsee any of the owners cashing out anytime soon

How long is the season ticket wait list? or even is there a season ticket wait list?

How do the Jets raise revenue to keep up with a 84-88 M salary cap?

First dip into the negative? : with a playoff team that was supposed to challenge for the SC at the start of 2018-19 season ... coming off a great playoff run.

Seattle paid a $650M expansion fee. Vegas $500M The next NHL expansion ( or Move) will be worth $800 M

[Torture]

Let's not go out of our way to congratulate the Oilers too much....the only reason they've changed their stance is because of public pressure. They had already said people wouldn't be paid.

They got to the right decision, but it wasn't their first choice. Hopefully the Flames follow suit.

[sketchyt]

Originally Posted by cam_wmh

So Katz is classier, than Murray Edwards, Alvin Libin, Allan Markin, & Jeff McCaig.

OUCH.

To be fair, this isn't exactly a high hurdle to jump.

[SportsJunky]

Originally Posted by ricardodw

Max EI benefits to what they make at their part time job at Rogers.

Since most of these folks will not be going on EI unless their other job shuts down that will not cost the Oilers a lot.

That’s what I think, too. Sounds like a Katz cop out.

[rain_e]

Originally Posted by Lanny'sDaMan

This is not true anymore. They are privately owned by Onex and are no longer a publicly traded company.

Onex is a publicly traded company

[White Out 403]

Originally Posted by ricardodw

How long is the season ticket wait list? or even is there a season ticket wait list?

How do the Jets raise revenue to keep up with a 84-88 M salary cap?

First dip into the negative? : with a playoff team that was supposed to challenge for the SC at the start of 2018-19 season ... coming off a great playoff run.

Seattle paid a $650M expansion fee. Vegas $500M The next NHL expansion ( or Move) will be worth $800 M

I'm not going to debate people about the Jets longevity or fiscal stability. I remember how many hot takes people made guaranteeing they'd never come back, and then it moved to they'd be gone in 5 years, then 10 years. The Jets are in the NHL, deal with it.

[Rando]

Originally Posted by White Out 403

I'm not going to debate people about the Jets longevity or fiscal stability. I remember how many hot takes people made guaranteeing they'd never come back, and then it moved to they'd be gone in 5 years, then 10 years. The Jets are in the NHL, deal with it.

Ricardo is a Jets fan, no?

Beyond that I haven't the foggiest what any of his points are.

[Locke]

Originally Posted by dirk diggler

several players have offered to pay for employees that work in the stadium. Zion Williamson offered to pay the salaries of the arean workers for a month. Other like Kevin Love offered 100 K

So hes only paying the workers who are Blond White Guys of Nordic descent?

[Strange Brew]

Originally Posted by Flash Walken

The owner of the Jets is worth 36 billion dollars.

And apparently paying the beer guy his minimum wage during a pandemic is a financial hardship.

[AustinL_NHL]

Even the Oilers are showing us up.

Just beyond embarrassing.

Fu*k our owners

[GreenLantern2814]

I hope this crash in oil kicks Murray out of the Très Commas club and he has to sell the team because he's a broke ass bitch.

[Manhattanboy]

Originally Posted by jaydorn

I'm not a STH but I'll just toss this out there, contact your account reps hold their feet to the fire on this one. I'm not sure where you all are in your ticket renewal, but make this a non-negotiable if you can.

I will do that, and make my payment for next years season tickets, which were just recently invoiced, conditional on a reversal of this terrible policy.