Any Idiot Can Start A Budget Thread--Melnyk and Team Finances III

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PeterSidorkiewicz

HFWF Tourney Undisputed Champion
Apr 30, 2004
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Melnyk owns Bert's Bar in Barbados, correct? Hopefully he rights what seems to be a very big wrong. The place was shut down randomly (seems to be a thing with restaurants).

http://www.nationnews.com/nationnews/news/98856/bert-bar-employees-money-answers

According to six former workers – Joy-Anne Layne, Tonisha Layne-Crichlow, Nancy Callender, Roosevelt Glasgow, Shanika Alexander and Anson Skeete, the reason originally given to them for being sent home was not adding up.
To make matters worse, they claim they have not received much of the payments promised to them by management.
 

PeterSidorkiewicz

HFWF Tourney Undisputed Champion
Apr 30, 2004
32,442
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Why would you do research when you can just assume that Melnyk's a piece of ****?

Well if employees werent told it's a garbage move and pretty common in the restaurant industry. Did you read any of the article? It specifically says it closed and employees weren't told anything.
 

BonHoonLayneCornell

Registered User
Oct 16, 2006
15,228
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Yukon
You do! That's why I asked. It's Melnyks business if he wasn't involved he still needs to rectify that situation. That's what I originally said.

Finally took the time to read it. Ya that sucks, Melnyk should be accountable since he's the owner, i'm sure those employees already dont have it great on the best of days but pretty hard to keep truckin with no pay and no warning.
 

hockeywiz542

Registered User
May 26, 2008
15,909
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http://www.tsn.ca/senators-remove-about-1-500-seats-from-arena-1.849839

The Ottawa Senators have removed approximately 1,500 seats from the Canadian Tire Centre in order to drive demand in season ticket sales according to Brett Wallace. They have one of the lowest season ticket bases in the NHL.

The change will be seen at the top of both ends.

In 2016-17, the Sens sat at No. 21 overall in attendance, with an average of 16,744 per game. That was slightly down from their numbers a season before, ranking 17th at 18,084. The team also had close to 2,000 seats left empty for a second-round playoff game.
 

Tuna99

Registered User
Sep 26, 2009
14,713
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I just don't see the logic here. We had games where there were 12000 fans there, there will still be tickets to every game. They aren't creating scarcity, they are just creating less tickets, with an 8000 Season tciket base there are still 9000 tickets available per game, outside of the Habs and Leaves games every game will have available tickets on game day - the logic here doesn't add up for me.

And what about the impact of admitting the arena is crapola and the fan base is sick of going there, now they have to go there and look up to tarped seats, that is a brutal, there is nothing less appealing then going going to an arena and seeing seats tarped over - when has this ever worked for a franchise? Ever?

And how reducing tickets drives demand, isn't that done through branding, ethics, the value of the product?

I project forward to 2020 when the tarp melnyck is to cheap to replace is faded and has beer stains on it, some old popcorn that's been there for 2-3 months, a Tuesday game against Dallas that has 11 000 fans at it and I cringe.

The Senators brand is not resonating with the fans. The ambilical cord that went from Alfie to every fans in the city was cut, and the team never recovered.

Wait until Nashville is in town on a Wednesday and 12 500 fans watch Matt O'Connor beat us. That'll be a low moment.
 

Micklebot

Moderator
Apr 27, 2010
53,120
30,338
I just don't see the logic here. We had games where there were 12000 fans there, there will still be tickets to every game. They aren't creating scarcity, they are just creating less tickets, with an 8000 Season tciket base there are still 9000 tickets available per game, outside of the Habs and Leaves games every game will have available tickets on game day - the logic here doesn't add up for me.

And what about the impact of admitting the arena is crapola and the fan base is sick of going there, now they have to go there and look up to tarped seats, that is a brutal, there is nothing less appealing then going going to an arena and seeing seats tarped over - when has this ever worked for a franchise? Ever?

And how reducing tickets drives demand, isn't that done through branding, ethics, the value of the product?

I project forward to 2020 when the tarp melnyck is to cheap to replace is faded and has beer stains on it, some old popcorn that's been there for 2-3 months, a Tuesday game against Dallas that has 11 000 fans at it and I cringe.

The Senators brand is not resonating with the fans. The ambilical cord that went from Alfie to every fans in the city was cut, and the team never recovered.

Wait until Nashville is in town on a Wednesday and 12 500 fans watch Matt O'Connor beat us. That'll be a low moment.

I'm not sure what the intent is here. I guess by eliminated 'cheaper' seats, if forces fans to buy more expensive ones, so if attendance remains the same they still make more money. And if, we sell out, they can easily remove the tarp and open up more seats last minute.

All that said, I'd have less of an issue with this if they were re-purposing the area to give an added value to fans in attendance rather than just hiding them under a tarp.
 

Filatov2Kovalev2Bonk

Effortless sexy.
Jul 13, 2006
12,719
1,049
Cumberland
I think there will be a solid turnout this year because of the past season's team going deep.
Karlsson missing any time will affect ticket sales, as will the team's performance. Yes, the location sucks, but I got a bunch of tickets this year because the team was worth it in last season't playoff run.

If the hot dogs are MTL quality, as Anselmi notes, I will go more often.
 

Uchiha

Registered User
Jun 14, 2014
2,612
289
His comments to Garrioch was sad.

“Let’s concentrate on some of the good things I do decide on — like bringing an Outdoor Game to Ottawa.
“Yes, that was my call — and with a financial guarantee! I guess people quickly forget.”

Jokester.
 

pepty

Let's win it all
Feb 22, 2005
13,457
215
Exclusive: Senators owner Melnyk ‘not selling the team — period’
Hmmm....

Melnyk said part of the reason the Senators had to request Karlsson’s 10-team “no-trade” list was because of the refinancing.
“This is where the (Karlsson) contract request emanated from,” Melnyk added. “ALL material contracts are reviewed in a process called due diligence — from snow removal to food and beverage to players.”
Melnyk added, jokingly: “I assure you (Karlsson) is ‘material’. ”
 

aragorn

Do The Right Thing
Aug 8, 2004
28,465
8,993
After the attendance tonight they may want to hide some more of the seats, maybe even the entire upper bowl. :laugh:
 

Sens of Anarchy

Registered User
Jul 9, 2013
64,992
49,512
I can deal with the budget.. no problem... just
tenor.gif
 
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JungleBeat

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Sep 10, 2016
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Canada
Is Melnyk losing money running the Senators or is it just creative accounting? If so, how much money is he losing running the team?
 

RedWhiteBlackGold

Veteran User
Feb 22, 2007
11,620
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Charlottetown, PE
Is Melnyk losing money running the Senators or is it just creative accounting? If so, how much money is he losing running the team?

Courtesy of Wiki:

In March, 2008, the United States Securities and Exchange Commission (SEC) sued Melnyk and Biovail for accounting fraud. The SEC press release claims that Melnyk and other executives "repeatedly overstated earnings and hid losses in order to deceive investors and create the appearance of achieving earnings goals. When it ultimately became impossible to continue concealing the company's inability to meet its own earnings guidance, Biovail actively misled investors and analysts about the reasons for the company's poor performance." Biovail settled for $10 million US.[10]
In May 2011, Melnyk was banned from senior roles at public companies in Canada for five years and fined $565,000 by the Ontario Securities Commission. Melnyk also settled with the United States Securities and Exchange Commission (SEC), and agreed to pay a civil penalty of $150,000, in addition to $1 million previously paid to settle other claims with the SEC.

Who knows, he's a shady businessman.
 
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