News Article: Bullying and backstabbing: the Ottawa Senators are pro sport's biggest mess

[PeterSidorkiewicz]

Maybe I am misremembering...

Yup.

 

[Cosmix]

Its a great example for us to look at and very comparable. The Clippers are in the shadow of a titan (the lakers), and were run by a joke owner. League finally stepped in and forced him to sell. And now look at the Clippers - they got a rich new owner, and now their currently the toast of the NBA and have as bright a future as anyone over the next few years.

This is what I hope that most of us can still try not to lose focus on - the bad times will pass and Melnyk is going to eventually sell, probably sooner rather than later. And we are going to rise from the ashes and have our redemption.

So you are saying that all we need is a Cinderfella?

 

[Larionov]

How is the Organ Project doing? What about that new concussion machine he was flapping his lips about investing major money in?

Last news update on the Organ Project's website is from November 2017, so it has basically been dormant for over a year and a half. This isn't unusual - in fact it is pretty common. A celebrity/business person decides to start up a big charity, and after the initial rush discovers that it a) is a ton of work and b) replicates work that is already being done by others. The vanity project then slowly fades into oblivion...

 

[branch]

Big pharma is an interesting industry. It's how Melnyk became a billionaire. Those companies were not viable businesses per se, they were more investments in the pharma drug development industry that flopped

The only reason they are notable is because of Melnyk. Otherwise they'd be nothing names in the long list of nothing names in the business of trying to develop commercially viable drugs.

Bert's bar. Really?

Big pharma is a joke. It's a lottery. It's all based on speculation. Anyone that trades even the cheapest penny stocks knows that. Come on JD. And to call Biovail "big pharma" is equally funny. Unless they were bought by Pfizer and I didn't see. Eugene built the hype machine but delivered absolutely 0 viable products, that's why his stock went to 0 as well.

 

[branch]

Lebreton Flats.

Lo and behold, the extremely powerful billionaire that cannot develop a single parcel of land lmao...what is that like 20 acres?

 

[FolignoQuantumLeap]

How's the horsey business going for Eugene? That must be a wonderful investment like all his others. What could go wrong?

 

[AchtzehnBaby]

How's the horsey business going for Eugene? That must be a wonderful investment like all his others. What could go wrong?

... nothing new to talk about?

LOL

Horses are long gone. Like his wife.

 

[Acidrain66]

Melnyk is not be a likeable fellow but a terrible business man he is not. He is a self made billionaire. No one can make that claim and be labelled a terrible business man.

Hows the Sens buiness plan going??

 

[Ice-Tray]

I’d like a new rich owner to arrive

 

[Peptic Balcers]

How's the horsey business going for Eugene? That must be a wonderful investment like all his others. What could go wrong?

I’d like a new rich owner to arrive

The time is neigh

 

[Larionov]

He would've followed his idols footsteps and bankrupted the casino.

Seriously, though, the casino business is not a great one these days. Revenues are down for the simple reason that millennials simply don't like gambling as much as their parents did. As a result, the casino business is pretty much saturated. The four "destination" casinos run by OLG in Ontario lost money last year, and there is little reason to believe that a casino in the middle of nowhere in Kanata would have done any better. I suspect it would have quickly become a giant white elephant...

 

[The Lewler]

Seriously, though, the casino business is not a great one these days. Revenues are down for the simple reason that millennials simply don't like gambling as much as their parents did. As a result, the casino business is pretty much saturated. The four "destination" casinos run by OLG in Ontario lost money last year, and there is little reason to believe that a casino in the middle of nowhere in Kanata would have done any better. I suspect it would have quickly become a giant white elephant...

Fallsview Casino lost money?

At any rate, if proper e-gambling is allowed, prop betting on sports etc will pull in huge dollars.

[Mod]

 

[JD1]

Big pharma is a joke. It's a lottery. It's all based on speculation. Anyone that trades even the cheapest penny stocks knows that. Come on JD. And to call Biovail "big pharma" is equally funny. Unless they were bought by Pfizer and I didn't see. Eugene built the hype machine but delivered absolutely 0 viable products, that's why his stock went to 0 as well.

I think you missed my point.

Melnyk was called out as a poor business man due to his post biovail business "failures". My point was his post biovail ventures were more akin to angel investments than operationally running a business.

As for biovail being big pharma...um you might Google Biovail Valeant merger...

 

[PoutineSp00nZ]

Big pharma is a joke. It's a lottery. It's all based on speculation. Anyone that trades even the cheapest penny stocks knows that. Come on JD. And to call Biovail "big pharma" is equally funny. Unless they were bought by Pfizer and I didn't see. Eugene built the hype machine but delivered absolutely 0 viable products, that's why his stock went to 0 as well.

Are you telling me that female viagra didn't become the next big thing on the market lol

 

[FolignoQuantumLeap]

Fallsview Casino lost money?

At any rate, if proper e-gambling is allowed, prop betting on sports etc will pull in huge dollars.

Regularly going to the casino is very much the domain of money launderers, blue hairs of all stripes , and the Chinese.

The Lac Leamy Casino is genuinely one of the most depressing places I've been to in Canada outside of Winnipeg or some northern reserves. Not fun being around a bunch of older desperate white people throwing away their last few dollars. Very glad that didn't end up in Kanata. Casinos are shit holes.

 

[thinkwild]

Casinos and strip clubs for men both promise excitement and titillation but really are often more depressing than anything else. Fallsview in Niagara falls is more of a tourist destination, where casinos belong. and so may fare better like Vegas. But even Vegas casino owners have said recently that gambling no longer makes up the majority or their revenues. It is shows, restaurants, and the like now that are drawing people/tourists more. And they definitely feel like a retirement home sometimes, not filled with James Bond types.

But im still amazed at how Sens fans spent years complaining about how can a team be expected to survive out in the boonies. But then complained the city wouldnt give Melnyk a casino in the tourist mecca of the kanata suburbs so he could use those profits to subsidize the team. As if.

And i still remember Melnyks comments when he was negotiating in the press to pressure the city to grant him the casino, that maybe Ottawa is used to developing players for the rest of the league and that without a casino he may be forced into that position. That was his jump the shark moment for me. And now he is apparently fulfilling that.

 

[Tnuoc Alucard]

And i still remember Melnyks comments when he was negotiating in the press to pressure the city to grant him the casino, that maybe Ottawa is used to developing players for the rest of the league and that without a casino he may be forced into that position. That was his jump the shark moment for me. And now he is apparently fulfilling that.

Perhaps his predictions, back then were not that much of the mark. We all saw what happened to the Expos, and there was even someone in one of the local papers, I thing yesterday, suggesting that Ottawa should look into playing some regular season games in QC.

 

[Gil Gunderson]

His casino would have failed just like everything else has for him.

 

[DaveMatthew]

Perhaps his predictions, back then were not that much of the mark. We all saw what happened to the Expos, and there was even someone in one of the local papers, I thing yesterday, suggesting that Ottawa should look into playing some regular season games in QC.

I don't think Eugene would be very excited to split any gate revenue with Quebecor.

Melnyk is, quite honestly, in a serious pickle.

1. The salary cap (and floor) will continue to rise. Even at ~$50 million of salary expenditures (cash not AAV) this year, Melnyk is spending more than he did any year from 2003-2012. But back then, there were more fans going to games, and that payroll bought him 1-2 playoff rounds of extra revenue. Plus, he had significantly more personal wealth.

2. Whether you think it's fans making a point, or just a bad market, it doesn't matter. Less people are going to NHL games in Ottawa today than at any point over the last 20 years. That's probably not changing anytime soon.

3. Moving the team might be an option, but it would require financing his own new arena in a new city, or leasing someone else's arena. Two things Melnyk has said he won't do!

As someone who's already divested himself from the drama, it'll be fun to see how this shakes out for Euge over the next 5 or so years.

He's said that he wants to leave the team for his daughters, so I hope they're excited about running a pro hockey team in a small market with razor thin margins, extremely high expenses, next-to-no brand value, a soon-to-be obsolete building, and an astronomical debt burden!

 

[armani]

Still hearing that the team will be sold? Sorry guys I don't want you to give you false and high hopes - nor would I know if negotiations are on-going or in a stand-still. It's supposedly still in the process (for how many years? ever? never? who knows?!).

 

[GrantLemons]

His casino would have failed just like everything else has for him.

Imagine if he got the soccer team? That team would've been so folded by now.

 

[BatherSeason]

Perhaps his predictions, back then were not that much of the mark. We all saw what happened to the Expos, and there was even someone in one of the local papers, I thing yesterday, suggesting that Ottawa should look into playing some regular season games in QC.

Melnyk owns the building in Ottawa. No way he is moving this team even if temporarily to a place where he won't get the gate revenue. Not sure how many times this needs to be repeated to you.

 

[DaveMatthew]

Melnyk owns the building in Ottawa. No way he is moving this team even if temporarily to a place where he won't get the gate revenue. Not sure how many times this needs to be repeated to you.

Simple.

 

[aragorn]

How is being a self made billionaire considered a failure these days? We should all be so lucky.

 

[PoutineSp00nZ]

Seriously, though, the casino business is not a great one these days. Revenues are down for the simple reason that millennials simply don't like gambling as much as their parents did. As a result, the casino business is pretty much saturated. The four "destination" casinos run by OLG in Ontario lost money last year, and there is little reason to believe that a casino in the middle of nowhere in Kanata would have done any better. I suspect it would have quickly become a giant white elephant...

I dunno, the casino in hull is jam packed every weekend, and even during weeknights it's quite busy.

Not sure how they'd be losing money. People literally put their money into the walls