National Hockey League can be saved. . Bain Capital Co.
- Thread starter Mess
- Start date
- Status
wow........just forwarded it to the league and the PA, not that theyll ever read it. Gary really needs to, though........
Mess
Global Moderator
It basically says turn back 10 years of Bettman mistakes and make the league strong again ..
That is something ... A Financial Investment Co.. wants to buy the league for 3.5 Bil and shut down the 10 worst franchises ..
and that is what it thinks is the best direction to make the League profitable ..
When it comes to controlling costs, NHL owners are pathetic. Over the nine-year period, revenues rose 173 percent, but labor costs rose 261 percent. Sure, the NHL doesn't have a salary cap. But neither does Goldman Sachs or the Gap, and they still manage to make money while competing for talent. As this Forbes article points out, NHL player salaries rose because general managers and owners made economically stupid hiring decisions.
According to the Levitt report, six teams lost more than $20 million a year, and 12 lost more than $10 million per year. Shutting some of them down would stop a lot of the bleeding instantly.
Next, install new managers at the teams and make their compensation contingent on turning profits. The problem with the NHL—and with many sports franchises—is that the teams aren't run to make money. Owners of many sports teams generally don't expect, or need, a dividend check from their team each year. Instead, they're happy to take their returns in capital gains, by selling the team to a bigger ego with a bigger checkbook.
That is something ... A Financial Investment Co.. wants to buy the league for 3.5 Bil and shut down the 10 worst franchises ..
and that is what it thinks is the best direction to make the League profitable ..
When it comes to controlling costs, NHL owners are pathetic. Over the nine-year period, revenues rose 173 percent, but labor costs rose 261 percent. Sure, the NHL doesn't have a salary cap. But neither does Goldman Sachs or the Gap, and they still manage to make money while competing for talent. As this Forbes article points out, NHL player salaries rose because general managers and owners made economically stupid hiring decisions.
According to the Levitt report, six teams lost more than $20 million a year, and 12 lost more than $10 million per year. Shutting some of them down would stop a lot of the bleeding instantly.
Next, install new managers at the teams and make their compensation contingent on turning profits. The problem with the NHL—and with many sports franchises—is that the teams aren't run to make money. Owners of many sports teams generally don't expect, or need, a dividend check from their team each year. Instead, they're happy to take their returns in capital gains, by selling the team to a bigger ego with a bigger checkbook.
Buffaloed
webmaster
- Status
Ad
Upcoming events
-
Pinguins Bremerhaven @ Eisbaren Berlin - Pinguins Bremerhaven leads series 1-0Wagers: 1Staked: $135.00Event closes- Updated:
-
-
2024 SoFi NBA Play-In Tournament Chicago Bulls @ Miami HeatWagers: 1Staked: $10.00Event closes- Updated:
-
-
