Yes, the team receives league money. Didn’t need any league money in year 1 and 2 when the dollar was strong.
Big Jump In Season Ticket Prices
- Thread starter sting13
- Start date
Yes, the team receives league money. Didn’t need any league money in year 1 and 2 when the dollar was strong.
Board Bard
Dane-O-Mite
- Jun 7, 2014
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Does anyone outside TNSE really know how TNSE is structured corporately? The team could be treated as an entirely separate entity, even if it is a part of TNSE. Throw in the Moose if you want, but the team doesn't necessarily include external things like the casino and the hotel across the street even if funds from those businesses might be used to defray team losses (if any). Pretty sure Chipman would like the team to manage entirely on its own, with maybe a little help occasionally from the rest, and I'm pretty sure he'd be pretty worried if the team became a constant drain on overall TNSE profits. Anyway, since the Jets are a private business they don't publish financials, so all we can do is speculate on the team's bottom line. That's all Forbes ever does, it's not like TNSE lets them peek at the books.
I do know that any monies received through the Shark club cannot be used for day to day operations of the hockey club. All casino money must be used for building improvements and maintenance at Bell arena.
The hockey club is it’s own entity. Just like the Leafs are under the umbrella of MLSE.
Board Bard
Dane-O-Mite
- Jun 7, 2014
- 7,888
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Yes, I would think so. There might even be a separate subsidiary company that owns the team proper, something like a Winnipeg Hockey Club Inc.
I will add that with casino money going to building improvement, that does remove from the team's budget significant capital improvement costs. That would obviously help the bottom line.
The VLT revenues actually go towards paying the mortgage. TNSE renegotiated the mortgage deal with the Province when they bought the Thrashers and I think the gaming revenue deal stems from that.
The arena gets special tax treatment by the city as well - it's classified as a public venue (or something like that) and pays a fraction of the property tax that they would if it were a normal business.
So basically a mortgage- and tax-free building. I think the idea is that in exchange for all this (plus the $6M or so Entertainment Tax rebate), TNSE puts money into arena improvements. But I don't know if there's a specific dollar amount that has to be spent.
The arena gets special tax treatment by the city as well - it's classified as a public venue (or something like that) and pays a fraction of the property tax that they would if it were a normal business.
So basically a mortgage- and tax-free building. I think the idea is that in exchange for all this (plus the $6M or so Entertainment Tax rebate), TNSE puts money into arena improvements. But I don't know if there's a specific dollar amount that has to be spent.
Aavco Cup
"I can make you cry in this room"
- Sep 5, 2013
- 37,630
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What is the % if you convert ticket revenue to US$$. It is pretty close to the same revenue as year one no?
That’s the beauty of the arrangement. All operations, repairs, upgrades, and maintenance are paid for by outside revenues. The benefits of those expenditures go to the club.
PS - the Jets are profitable on their own.
m.
Probably a bit less. But there's more revenue from TV and the teams get to keep more HRR. I'm guessing they're probably not far off where they were revenue-wise in season 1. Expansion money and consistent playoff appearances will help keep them in the black for the foreseeable future. Their current regional TV deal expires after 2020-21 - they should get a nice boost in that starting in the 2021-22 season.
brock0791
Registered User
- Jul 2, 2015
- 849
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Most companies separate their real estate from their business. Some tax benefits but mostly for liability. If for example a speaker stack collapsed at a concert and killed 100 people you wouldn't want the hockey team being named as a defendant
Hobby Bull
amazon sucks
- May 21, 2013
- 1,215
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Thanks alot. Looks like there is some shuffling in a STH group that I have a small share in.
Guilty Party
Healthy Scratch 4lyfe
Great $750 for P3 in 2011
Not that you need my response any longer but $750 it was. We get that back if we leave, right? (BTW, if you leave, I want your seats)
man i remember when had season tickets back in 1981 or so it was around 300 for row 14 or something
- Feb 24, 2015
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PS - the Jets are profitable on their own.
m.[/QUOTE]
Winnipeg pro sports clubs to collect $16.3M in public assistance in 2018 | CBC News
m.[/QUOTE]
Winnipeg pro sports clubs to collect $16.3M in public assistance in 2018 | CBC News
Winnipeg pro sports clubs to collect $16.3M in public assistance in 2018 | CBC News[/QUOTE]
Good old Bartley Kives, still angry at the world. Haven't been able to take him seriously since he was faking concert reviews back in the day.
- Feb 24, 2015
- 22,126
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Good old Bartley Kives, still angry at the world. Haven't been able to take him seriously since he was faking concert reviews back in the day.[/QUOTE]
I made no comment
Just posted an article
Is it false or fact
I can’t speak to that
I made no comment
Just posted an article
Is it false or fact
I can’t speak to that[/QUOTE]
I can't speak to whether it is fact or not either but I can't trust Mr. Kives. I hope he has grown up since those days but I can't vouch for him on that either.
potroaster
Registered User
- Jul 1, 2012
- 259
- 81
You just hit the nail on the head! Exactly. How do you expect to use an AHL capacity arena and sell 4 pepsis 4 popcorns and 4 tickets for $99?
You'll note that none of those tax credits are income-tested.
FWIW there's a philosophical difference between public assistance and tax relief or income generation. Casino revenues are income. Reduction of entertainment tax and property tax is tax relief.
m.
