BM67 said:
So arena revenue is hockey revenue, but arena expenses are not hockey expenses? So instead of under reporting profits, you want them to over report them? Were you involved with Enron?
It wasn't me that wanted it both ways. Bryden was declaring he was going broke with his hockey team and using arena taxes as a reason. What I said at the time - and still say - is that rink revenues and team revenues should be set against team and rink expenses. Count 'em both.
When the books were finally published, both made good money before interest and taxes.
A few years ago when they were looking for a government bailout for Canadian teams, it was reported that several of the Canadian teams were paying more in "property taxes" than all the US teams combined. Large enough taxes to wipe out the profit of Toronto, so ignoring them is not insignificant.
Shhh. Don't bring this one up. The bailout was required to save hockey in Canada, remember? If we did not pay up taxes, US arena subsidies and player payrolls in American dollars was going to kill NHL hockey in Canada. Bryden even announced he was going to sell and relocate.
The teams did not get their subsidy. It turned out hockey in Canada was not doomed even though there was no subsidy. "Wolf, wolf" shouted Bryden and the fans believed. "The sky is falling, the sky is falling," echoed every Chicken Little.
What happened? Oh yeah. Nothing.
Tom