Collapsing Russian Ruble reducing the threat of the KHL?

[SeeGeeWhy]

Bettman will address this and expand revenue sharing in the next CBA to include the KHL. Because let's be honest, threat of flight to the KHL might be the last thing keeping the oilers honest right now.

[GirlySports]

I originally thought that with the first salary cap at 39 million that the KHL might be a threat because they could pay anything while the NHL was handcuffed.

However since the cap has more than doubled in 8 years that is no longer a possibility.

As long as the owners continue extend existing contracts and then chase FAs on July 1 like dogs on raw meet, the KHL will never be a threat.

[Street Pharmacist]

Originally Posted by girlysports

i originally thought that with the first salary cap at 39 million that the khl might be a threat because they could pay anything while the nhl was handcuffed.

However since the cap has more than doubled in 8 years that is no longer a possibility.

As long as the owners continue extend existing contracts and then chase fas on july 1 like dogs on raw meet, the khl will never be a threat.

39*2>69

[GirlySports]

Originally Posted by Street Pharmacist

39*2>69

Next year!!

[Jay Random]

Originally Posted by GirlySports

Next year!!

Next year will be 10 years since the cap was $39 million. 10 > 8.

No matter what numbers you choose, the cap has not doubled in 8 years.

[Street Pharmacist]

Originally Posted by GirlySports

Next year!!

Next year will be $72-74M

$74M<$79

YOUR MATH IS FLAWED!

[jemjey]

i'm pretty sure the phrase is "bags the question" meaning you put the question in a bag and hit it with phone books

[Jay Random]

Originally Posted by jemjey

i'm pretty sure the phrase is "bags the question" meaning you put the question in a bag and hit it with phone books

Well, in hockey you bag the question by making it skate a lot after practice. In other sports you cannot do this, as the question may not know how to skate.

[sureLoss]

James Mirtle now saying players and coaches on some teams have not gotten paid:

James Mirtle @mirtle
Three KHL teams may fold due to monetary issues related to crashing ruble and Russian economy. Some coaches haven't been paid anything.

James Mirtle @mirtle
Don't know exactly which teams are distressed enough to bow out of KHL but best guesses are Atlant, Bratislava and Riga. Major pain there.

James Mirtle @mirtle
Multiple sources confirming players on those three KHL teams haven't been paid this season: "Roughly one-third of KHL has serious problems."

[Resolute 14]

Gee, who didn't see that coming?

Wonder how long before Jokerit returns to the Liiga?

[savardandjokinen]

Boyd! Dawes!

[Poe969]

still a better gig then Edmonton....

[sureLoss]

some insight of the situation from Jeff Glass:
http://www.thehockeynews.com/blog/kh...sed-right-now/

The decline of the ruble, triggered by the downward spiral of oil prices and the economic sanctions arising from Russia’s occupation of Ukraine, has caused most of the financial turmoil. For example, Glass signed a contract this season with Lada Tolyatti that called for him to be paid the equivalent of $1.1 million (U.S.), but with all contracts in the KHL paid in rubles, he figures he’s making the equivalent of $650,000 to $700,000. When he signed his contract, the ruble was trading at between 33 and 34 rubles to an American dollar. It now costs about 60 rubles to buy an American dollar today.

And he’s still one of the lucky ones. At least his team has paid its players on time. According to Glass, Atlant is on the verge of collapse and three other teams of which he’s aware – Sibir, Medvescak and Dinamo Riga – have not paid their players or coaches in three months. Glass said he has been hearing around the league that all three teams have been selling off their top players and he expects players in Sibir, at least, will start seeing paychecks soon.

He said there have been some wildcat strikes around the league, comprising of players who are holding out to have their contracts renegotiated to reflect the declining ruble. He said the situation has had an effect on players of all nationalities, but also said players from outside Russia are getting very wary of their futures.

“Guys are starting to get very nervous,” Glass said. “Nobody plans on living in Russia post-hockey. Everybody wants to take these rubles and move them into Euros or dollars and nobody is able to do that now.”

[mikephoen]

With the way the Canadian dollar is also collapsing, I would be shocked if the Cap goes up at all next year.

[Pointman]

I am not following KHL at all last few years, but Russian oligarchs have no problem stopping paying on the contract, just Google Fabio Capello, who was handed the most lucrative soccer coach contact to manage Russian national soccer team and after the abysmal World Cup the oligarchs, who sponsored the deal, just stopped paying.

The last quote from Glass about how nobody is able to convert rubles to dollars is misleading. It is easy to convert rubles to dollars at any bank or exchange point. Millions of Russians, including me, are doing it after every payday. Glass was possibly referring to the skyrocketing exchange rates.

[calgaryred]

Originally Posted by Pointman

I am not following KHL at all last few years, but Russian oligarchs have no problem stopping paying on the contract, just Google Fabio Capello, who was handed the most lucrative soccer coach contact to manage Russian national soccer team and after the abysmal World Cup the oligarchs, who sponsored the deal, just stopped paying.

The last quote from Glass about how nobody is able to convert rubles to dollars is misleading. It is easy to convert rubles to dollars at any bank or exchange point. Millions of Russians, including me, are doing it after every payday. Glass was possibly referring to the skyrocketing exchange rates.

On the news yesterday a reporter was saying in Russia at the moment with the Ruble sinking, Russians can only exchange a certain amount of Rubles into Dollars or Euros. So if a paycheque is running around 1.1 million Rubles, it would be hard to get any bank to exchange that amount at this time.

[Itse]

Originally Posted by Pointman

I am not following KHL at all last few years, but Russian oligarchs have no problem stopping paying on the contract, just Google Fabio Capello, who was handed the most lucrative soccer coach contact to manage Russian national soccer team and after the abysmal World Cup the oligarchs, who sponsored the deal, just stopped paying.

The last quote from Glass about how nobody is able to convert rubles to dollars is misleading. It is easy to convert rubles to dollars at any bank or exchange point. Millions of Russians, including me, are doing it after every payday. Glass was possibly referring to the skyrocketing exchange rates.

There's a lot of talk of Russia setting in currency controls in the near future. That would probably happen if there's another big drop, because at this rate they're just going to run out of money to prop up the ruble. It might already be an inevitable development. Although I've understood it would be politically quite a toxic move.

Putins regime has really turned out to be a failure.

[Weitz]

Originally Posted by Resolute 14

Assuming they didn't hedge.

I'm curious as what you are referring to? Hedging their CAD to USD trade?

Is that even possible?

(Amateur investor with legit question)

[sureLoss]

According to Gord Miller, there is even talk that MHL (Russia's version of major junior i.e WHL/OHL/QMJHL) will fold and a lot more Russian kids will be coming to the CHL.

[Locke]

Ah, Bread lines and cheap Vodka! Reminds me of the good old days.

Guess whos coming back??

http://www.boreme.com/posting.php?id=11391#.VJMWOV4CDVu