What is the f***ing plan here?

[harrisb]

No. I used $100k because it's an easy number. I also left the arena out of my example on purpose. It is separate. They were two separate purchases. They are separate businesses.
There's no need to be petulant or make attempts at condescension. Please continue to lecture me more about accounting. Lol, I'm married to a CPA.

All of the value that folks think the teams has is really only potential value. It only has value if EM wishes to borrow against it or if he decides to sell the team. That Forbes article isn't saying that he has $420M in his pocket.

People are eventually going to have to accept that this is a small market and its ability to support a major sports franchise is tenuous. The team's year to year profitability is suspect. The team DOES appreciate in value every year but its operating costs are greatly dependent on US dollar conversions and playoff revenues.

I mean really, is that even a debate?

Remove or reduce the debt as the asset payed for it in the first 10 years or so, are we still in the same financial situation without the debt load that nobody knows where it went? It didn’t go back in to the team that I’m fairly certain we can agree on

Examples of things that have affected Euge’s wealth and may be suspects for where the financing money went include divorce, SEC, failed pharma startups, being removed from BoD for all public traded companies and all of these happened and are also not up for debate.

 

[slamigo]

Remove or reduce the debt as the asset payed for it in the first 10 years or so, are we still in the same financial situation without the debt load that nobody knows where it went? It didn’t go back in to the team that I’m fairly certain we can agree on

I think my point is that we don't really know what EM has done with the finances and we never will. The debt is constantly being restructured to meet the immediate cash needs of the team. Since nobody really knows how he's doing this, it's unfair to make assumptions that the team is making tons of money and somehow he's secreting the money away and not reinvesting it back into the team. We simply don't know.

BUT, the team would benefit greatly from ownership with a vested interest in not just making money, but developing the city, the brand and community. That is where EM is truly lacking.

 

[slamigo]

Also

 

[JD1]

Forbes had Melnyk running a $10 M profit. Of course you knew that but didn't want to post it.

yes I know that....and it took his increased tv revenue and an 11 game playoff run to realize it.

so what happens without the playoffs?
or prior to his new tsn local deal?

the point is he isn't printing money

if you take the forbes data at face value it seems his operating expenses are in line with his revenue as well. so sure there are calls that we run things cheap but in order to spend like the big boys he'd need another 20 or so in operating profit as would all the other bottom 1/3 Rd teams.

without an owner that subsidizes to the tune of 20 M a year we cannot play with the big boys. That is mathematically quite clear.

And the only solution to it is more tickers at higher prices

 

[Boud]

Do you honestly believe we can trade Condon? He’s owed 2.5 next year and 3 million the year after. After the season he’s had, who would want him? Are we retaining in this scenario?

No one would trade for Hammond at a little over a million last off season. Sure, he’s no good, but Condon will be even tougher to move with his salary and two more years. Not to mention his poor play. No one wants a goalie who has a 3.4 GAA. Even if you argue he could bounce back next year, it’s too big of a risk.

I think Condon will be easier to move than you think.

 

[aragorn]

Well last yr at this time they were gearing up for the playoffs & had a pretty decent team, it seemed like. This yr the wheels have fallen off & PD now needs to plan for next season & the future of the team. The first step is clearly to get as many bad contracts off the books as possible & trade away anyone with no future on the team. PD has a 1st rd pick which most of us thing he will keep in the upcoming draft. If he can add a few more picks from players he is dealing the better position he will be in to make a few deals at the draft. I'm hoping he gets another 1st rd pick in order to acquire a top 4D.

My guess is that GB will be back for next season but what exactly is the strategy going forward is not yet revealed. If for example, this team gets off to a good start next yr will they continue to go younger or will they try & make the playoffs & go as far as possible like last yr? LV had to change their strategy given how well they did this season. Hopefully, PD will move as many non-factors as possible between now & the start of next season & re-evaluate again 20 games into the season.

 

[JD1]

I did answer your question.



And how is that the responsibility of ANY Sens fans to worry about?

Eugene has seen this asset undergo a MASSIVE increase in value. If he still has a debt ratio of 30% on an asset he bought for under market value, why is that MY problem?

The team and CTC are a profit generator. If Eugene can't get his financial act together and has a ****ty credit rating thus increasing HIS cost for running this operation, then he should sell and get out from under the debt.


I took the liberty of bolding all the items that are Melnyk's fault.



Well the source you used (Forbes) indicates Melnyk is making a profit on the Sens, so you might want to check into that. It also doesn't take into account the expansion fees he just received and will get again in a couple of years with Seattle.

If Melnyk wants to find the reasons for the problems facing his business, he should consult the closest mirror.

Thankfully there is an easy solution to his (and Sens fans) problems with his on-going ownership.

Sell the team for a MASSIVE profit.
-wipe out his debt
-no need to get financing for Lebreton.
-no more worry about converting funds from Can to USD
-no more headaches from an unappreciative fanbase.

I don't really think Sensung that you have a very clear understanding if the points being made by the guy you are arguing with

 

[Langdon Alger]

I think Condon will be easier to move than you think.

Lol ok. Who would be interested? Are we retaining or taking a bad contract back?

 

[topshelf15]

Lol ok. Who would be interested? Are we retaining or taking a bad contract back?

Lots of teams could use a solid backup/spot starter...Just because he has had a bad season doesnt change he is done far more good than bad at this level

 

[Langdon Alger]

Lots of teams could use a solid backup/spot starter...Just because he has had a bad season doesnt change he is done far more good than bad at this level

Look at his contract. Who wants to pay that for a backup? Backups aren’t difficult to find. Why give up an asset for a guy like Condon? Look if he had one more year at 1.5 I think we could move him, but he has two more years and is owed 5.5 million over that time.

Yeah, I’m sure teams will be lining up to get him.

 

[topshelf15]

Look at his contract. Who wants to pay that for a backup? Backups aren’t difficult to find. Why give up an asset for a guy like Condon? Look if he had one more year at 1.5 I think we could move him, but he has two more years and is owed 5.5 million over that time.

Yeah, I’m sure teams will be lining up to get him.

They arent???Think you are reaching a bit here

 

[slamigo]

Look at his contract...
...he has two more years and is owed 5.5 million over that time.

OMG I had completely forgotten about that contract. What a waste of money if he doesn’t improve.

 

[Langdon Alger]

They arent???Think you are reaching a bit here

The Kings gave Kuemper 700k as they were in the market for a backup last off season. You don’t pay a backup 2.5 a year. It’s stipid. The guy has been awful this year.

Ryan, Burrows, Anderson, Condon are tough to move, impossible? No, but there won’t be much of a market for these guys.

I love how people around here act like these guys would generate interest around the league. Be realistic.

You want to move Condon? Ok, if we retain 50% maybe. If we throw in a pick or prospect, ok. Taking a bad contract back maybe.

 

[Langdon Alger]

OMG I had completely forgotten about that contract. What a waste of money if he doesn’t improve.

Even if he does, it’s still a waste of money. Another bad contract from Sens management. Big surprise. How anyone defends these moves is beyond me. That’s what they do. Overvalue their own players, and then give them contracts that are tough to move. Too much money, too much term.

 

[slamigo]

It’s weird that one of the few players that they’ve really played hardball with was Hoffman and he’s signed to a great contract and is coveted by other teams.
They should play hardball with player contracts more often.

 

[Benttheknee]

The plan here is to convert Hockey assets into cash to keep Melynk afloat.

 

[topshelf15]

The Kings gave Kuemper 700k as they were in the market for a backup last off season. You don’t pay a backup 2.5 a year. It’s stipid. The guy has been awful this year.

Ryan, Burrows, Anderson, Condon are tough to move, impossible? No, but there won’t be much of a market for these guys.

I love how people around here act like these guys would generate interest around the league. Be realistic.

You want to move Condon? Ok, if we retain 50% maybe. If we throw in a pick or prospect, ok. Taking a bad contract back maybe.

They gave out a deal like that because their starter makes 7 mil a season....

 

[topshelf15]

The Kings gave Kuemper 700k as they were in the market for a backup last off season. You don’t pay a backup 2.5 a year. It’s stipid. The guy has been awful this year.

Ryan, Burrows, Anderson, Condon are tough to move, impossible? No, but there won’t be much of a market for these guys.

I love how people around here act like these guys would generate interest around the league. Be realistic.

You want to move Condon? Ok, if we retain 50% maybe. If we throw in a pick or prospect, ok. Taking a bad contract back maybe.

Who says we want to move him??

 

[Langdon Alger]

They gave out a deal like that because their starter makes 7 mil a season....

So what? Yes, backups aren’t difficult to find. Look, I wasn’t against bringing Condon back, but not at that price. Now people act like moving him is a realistic option. It’s not.

Who would you rather have? A backup making 2.5 or a guy making around 1 million?

 

[Langdon Alger]

Who says we want to move him??

That’s what we’re talking about!

What are you talking about?

 

[topshelf15]

So what? Yes, backups aren’t difficult to find. Look, I wasn’t against bringing Condon back, but not at that price. Now people act like moving him is a realistic option. It’s not.

Who would you rather have? A backup making 2.5 or a guy making around 1 million?

I would like a starter ,that would warrant us not having to make sure we have one of the better backups in the league...Those do not grow on trees,so we split the money and use the tandem ...Not so hard to understand really

 

[topshelf15]

That’s what we’re talking about!

What are you talking about?

No its what you are talking about....Nobody else in Ottawa has mentoned it,you worry far too much about nothing players...

 

[Liver King]

Karlsson + Pyatt + Anderson for Draisaitl + Larsson + Talbot + 1st
Brassard for Jenner + 1st
Smith for 2nd + 3rd
Pageau + Claesson for Domi

Draft Dahlin (please hockey Gods)

Hoffman-Duchene-Gaborik
Domi-Draisaitl-Stone
Dzingel-Brown-Ryan
Jenner-Chlapik-White

Dahlin-Larsson
Chabot-Ceci
Boro-Harpur

Talbot
Condon

 

[Agent Zub]

It's frightening that Dorion is in charge of trading Karlsson. Let alone the fact that Dorion has created a situation where the best player in franchise history will walk at the age of 28.

I'm expecting Karlsson + 2nd (because why not?) for Weber.

 

[Ice-Tray]

I'm expecting EK to be signed long term, along with Stone and Duchene. There is always crazy speculation through the media because that's how they make money, but in the end the stars always re-sign. The organization has made it clear that they want EK to stay, and EK has made it clear that he'd like to stay. EM has never not allowed a core player needing an extension to be signed.

It will get done guys, relax and lets all enjoy the TD coming up!