Source?
Based on what I was told, money has been re-directed from the team to other ventures, both commercial and personal. So that's cash that could have been deployed against debt, for example. And no, I won't reveal source so you can dismiss it if you like.
Well, I can't say that I would trust Melnyk (who looks like a Russian mobster) so yes it's very possible that he's screwing us and his own asset (doesn't make sense though although it's possible) but I can't make this assumption.
The only thing I can assuredly say is that Melnyk is a PR disaster.
But all those years with huge losses came about because of debt, not operating.
Ottawa is usually in the 15-20 range in operating income and revenue (not counting 2018 because of #MelnykOut). Those are numbers that actually indicate the viability of the market and fanbase, while debt does not.
The debt, IMO, is due to Melnyk's ability (or inability) to own a sports franchise.
Well, it's very complicated file and I haven't or won't make a deep-analysis study on this but many problems to begin with. I believe getting the CTC in Kanata in the first place was a cost-saving move but really not ideal long-term. Like I said before, Ottawa is not a big market (low population, big % of Habs/Leafs fans among people who care about hockey) but there has been a dedicated fanbase who went out to see games over the years, keeping the team afloat.
However, you have to realize that until last year, the Sens haven't sucked for over 20 years, with their worst finish being 26th in 2010-11. If they had sucked for years like the Leafs, Oilers or Sabres, it could have been really hard. On the contrary, they made the playoffs 16 times in those 20 seasons and have been close or in the race 3 other times with 83, 85 and 88 pts. So I'd argue they never really had a down like they are having since last year. Sure, they had bumps on the road but not even close to the fallout of the 2018 year. That kind of situation can really hurt a fragile market like Ottawa. Fans might be dedicated and loyal all they want but the customer pool is just not big enough to cover downs like this (like it did/would in Toronto or Montreal)
Anyway, just a side point but it's true there has a been something done wrong financially as maybe the debt shouldn't have been as big, or cleared before. Maybe it's a result of Melnyk screwing up his own asset (weird but possible), or bad decisions or a mix of both. I don't know much, it's hard to say with certainty either way.
In the end, maybe Melnyk had the "ability" to own a NHL franchise before but with the operating costs going up every year (salary cap, etc) and the team revenues not following, it has been getting hard for him and maybe the timing to sell has come but can't make that decision for him.
I respect your posts bigtime but personally I will not be held hostage by this owner any longer, I'm fully prepared for pain here and already assume Duchene and Stone etc.. are out the door...I know I would be if I was an elite player and I'm a die hard fan of the team lol.
Im stubborn so id rather see the team fold up shop and never here from this guy again than have what's currently occurring with a greedy owner basically syphoning off cash for his personal fun times from many local residents of this fine city all the while laughing at them proclaiming "bare bones" everything! As was mentioned, it would suck for many years but I would still like and watch NHL hockey, just not in Ottawa. Im close to apathy mode because of Melnyk.
Also love that work Linguo did over on Chirp, really great stuff that the shameless media won't touch!
Thanks but don't get me wrong, as I have said multiple times before, there's nothing more I'd want in Sens land than new ownership (outside of the Cup of course). However, I don't think that boycott is very effective. I would rather see people collecting money to build up a "bonus" that Melnyk could get when he sells the team. Heck, I'd throw 1000$ in it right away*
I'm really not on Melnyk' side and I'm hoping everyday that he sells so that would convince Stone and Duchene to stay long term and potentially fix most problems (financial state going forward, new arena downtown file, spending closer to the cap, etc)
* before someone says Melnyk doesn't deserve a reward, I know but I don't care, I just want to find a way to convince him to sell so we can move on with our Sens life. Problem here is how big could that bonus get? lol maybe we could have all other NHL fans threw a few dollars to help? Like some kind of pity