We have a new Sens CEO!

[coladin]

I actually think Melnyk wants to win a cup and he is a fan, but he doesn't want to put forth what is needed to make the organization a top class one. I also am not a fan of the guy at all, btw, and would love to see him sell, but I do think he wants to see them win, but doesnt want to put the $ in to actually do it.

Tough to put forth what you are asking if the fans don't show up. I can imagine when the games was better attended there was a larger staff and so forth. I am not a fan either of Melnyk, but I run my own business and have expertise as JD1 in financials. So my perception is different than others here.

Montreal is full and they are $8M under the cap, and Ottawa doesn't have their revenues.

 

[Sensung]

So you claim he's cooking the Books.

Why has the accounting firm that audits the Senators Franchise's operation books, and reviews all their revenues and expenses not pick that up?

How much more of the NHL /NHLPA CBA do I have to post, to prove the Senators books are audited, every year?

No one is claiming he's cooking the books, although his companies have been convicted of doing so in the past.

He has set up the Sens to lose money...pretty common practice.

My point, which you seem he'll bent on avoiding, is that his Sens related operations make money.

When he says the "Sens" lose money, he's not lying, but he's also not painting an accurate picture of his Sens related operations in Ottawa.

 

[Sensung]

So you claim he's cooking the Books.

Why has the accounting firm that audits the Senators Franchise's operation books, and reviews all their revenues and expenses not pick that up?

How much more of the NHL /NHLPA CBA do I have to post, to prove the Senators books are audited, every year?

They only review the numbers that relate to HRR.

 

[Sensung]

Of course they do, how the heck do you think they determine what the revenues and expenses are?????

Did you not understand the sections of the CBA that I posted?

They see the numbers that relate to HRR, nothing more, nothing less.

 

[Sensung]

Of course they do, how the heck do you think they determine what the revenues and expenses are?????

Did you not understand the sections of the CBA that I posted?

Are parking fees at Sens games HRR?

 

[Sensung]

Tough to put forth what you are asking if the fans don't show up. I can imagine when the games was better attended there was a larger staff and so forth. I am not a fan either of Melnyk, but I run my own business and have expertise as JD1 in financials. So my perception is different than others here.

Montreal is full and they are $8M under the cap, and Ottawa doesn't have their revenues.

And Eugene said he'd spend to the cap when we were contenders.

The GM made the Duchene trade (with ownerships approval), which indicated he felt we were contenders.

Did the Sens spend to the cap to push them over the top?

 

[JD1]

Are parking fees at Sens games HRR?

I honestly cannot tell with you whether you know the answers to the questions you ask

If you don't know the answer to that question, it is easy to find. As other many other facts about HRR and what the unions see and don't see.

You should do some research.

 

[Sensung]

I honestly cannot tell with you whether you know the answers to the questions you ask

If you don't know the answer to that question, it is easy to find. As other many other facts about HRR and what the unions see and don't see.

You should do some research.

Pretty simple question.

Care to answer?

 

[Spartachat]

All hail our glorious leader Eugene Melnyk, who unselfishly devotes his heart and soul to the Ottawa Senators franchise. All of us fans are unworthy of his greatness. Thank you Dear Leader from bottom of all our hearts.

 

[JD1]

They only review the numbers that relate to HRR.

seek first to understand

 

[JD1]

Pretty simple question.

Care to answer?

no I don't

you figure it out and post what you find

 

[danielpalfredsson]

No joke, I just started an NHL 18 Senators franchise for the first time, and not only is Eugene Melnyk telling me he wants me within 1M of his budget of 61M meaning I have to shed 6M in salary, his willingness to relocate is described as "some".

Never knew EA games were so realistic.

 

[thinkwild]

Yes parking revenue is considered part of HRR in certain circumstances. If you are in New York and park 3 blocks away in a non team lot, then probably not. If you are parking off site in a joint owned lot with a private enterprise, it might depend on what percentage is owned. Its not always an easy answer.

But the HRR calculation is grievable by the players association. There's not a lot of room for fudging that.

Melnyk very well could be making money in his HRR statement and come out and tell fans he is losing money. No one will be able to challenge him on that. It really isnt that relevant a statement

 

[Qward]

cause his last stint as a CEO worked so well.
Maybe they needed his insurance fraud experience in order to clear out Gaboriks salary.

 

[Sens of Anarchy]

He is keeping a closer eye on Dorion. He wants to be more involved . This wont end well

 

[BonkTastic]

He is keeping a closer eye on Dorion. He wants to be more involved . This wont end well

Wasn't there a documentary a while back about a cheap professional sports team owner who didn't spend money on players, didn't invest in the team, threatened to move the team, and got more involved in player decisions?

 

[Qward]

Wasn't there a documentary a while back about a cheap professional sports team owner who didn't spend money on players, didn't invest in the team, threatened to move the team, and got more involved in player decisions?

I was gonna make a picture of a bikini card board cutout like they had in the movie when they started on their winning streak, but rather put Melnyks face on it. I quickly changed my mind.

 

[L'Aveuglette]

Wasn't there a documentary a while back about a cheap professional sports team owner who didn't spend money on players, didn't invest in the team, threatened to move the team, and got more involved in player decisions?

That movie was more realistic than the Melnyk extravaganza we're being put through!

 

[Tuna99]

Melnyck is toxic anyone who comes in contact with him - Alfie, Anselmi, the media. Melnycks a hater

 

[Tnuoc Alucard]

No one is claiming he's cooking the books

When he says the "Sens" lose money, he's not lying, but he's also not painting an accurate picture of his Sens related operations in Ottawa.

Yes, you are claiming he's cooking the books, and have been doing so for over a week, when you did not realize that under the terms of the CBA, the NHLPA receives audit reports from the Senators Franchise, that reviews all revenues and expenses, including the rent that you were claiming he purposely manipulated to lower net profit.

I had to post actual excerpts from the CBA to convince you of that.



The only thing related to the Senators operations, as it relates to the CBA is the NHL Franchise called the Ottawa Senators.


The Bell Sens Plex(s), the CTC, the Sens Foundation and other related ( by name) operations do not factor into the purview of NHL/NHLPA CBA

 

[Tnuoc Alucard]

They only review the numbers that relate to HRR.

Obviously you either did not read ARTICLE 50 50.12-50.12 (c)of the CBA, or more likley you don't understand it.

Rent is an expense that relates to the HRR calculation, as affects the Net Cost of operations.
You've been claiming the NHLPA does not have access to what the actual rent number is........and your entire argument hinged on Meknyk charging an obscene amount of rent to make it appear, in the books, that the Senators always lost money.

Here is is again. Please ask for help if you still can't understand it.



ARTICLE 50 50.12-50.12 (c)
"HRR Reporting Package" Defined; Preparation and Submission of HRR
Reporting Packages
.
For each League Year during the course of this Agreement, the
Independent Accountants shall generate a package of forms known as the HRR Reporting
Package. For purposes of reporting each Club's revenues and expenses, each Club shall fill out and return to the Independent Accountants the applicable revenue and expense reporting sections of such forms – which applicable sections also contain relevant sets of Schedules and
Instructions appended thereto (collectively, the pertinent forms, Schedules and Instructions shall be known as the "HRR Reporting Package"). There shall be a section of the HRR Reporting Package that pertains solely to League-level HRR and shall be completed by the NHL. "The HRR Reporting Package 20XX-XX" is hereby incorporated into this Agreement as Exhibit
50.12.A, and in future League Years shall be similar in format and definitions

 

[Tnuoc Alucard]

Are parking fees at Sens games HRR?

Yes

 

[Tnuoc Alucard]

.
No, I don't attend any event at the CTC. Thanks for acknowledging that Eugene makes money off the Sens and all CTC events. He sets the "rent" for the Sens and can turn a profit or a loss depending on how his accountants fix the books...

So please explain how the Accountants, that review the Senator's books, for the NHLPA, are so stupid that they can't figure out that the "books" are being "fixed"?

 

[Tnuoc Alucard]

Revenues generated by the Sens/CTC easily exceed costs.

Under the terms of the current CBA, only the Revenues and Expenses of the NHL Franchise are covered, and the books of the NHL Franchise alone, are reviewed by the Accounting firm that reports to the NHPLA each year.

This is quite simple to understand .......... so when a NHL owner says his franchise has lost money after the season, it's easily proven, or dis-proven, once the Accounting firm that reports to the NHPLA each year, after they carried out their audit of the NHL Franchise.

 

[thinkwild]

Its easily checked by the NHLPA auditors whether the statement adds up from an HRR perspective, but its unlikely we will know that as fans.

But as to whether that really means he lost money in a way that hockey fans would find meaningful, i dont think that is what those numbers really mean. Debt can make you lose money in one set of books but help you make money in another set too.