News Article: Red Wings did make 31M profit with the worst season in their hockey history

[Henkka]

NHL Team Values 2020: Hockey’s First Decline In Two Decades

There it is.

Only 5 teams made a better result.

+31M no matter what happens on the ice.

Does Chris Ilitch need to be scared about losing money? Doesn't look like that.

Click to read more...

 

[jkutswings]

Reminds me of that gem from Patrick Ewing (as president of the NBA Players Association):

 

[FMichael]

It's been known for quite some time...Just because the lower bowl appears to be empty - 99% of those seats have been paid for long in advance.

 

[Ghost of Ethan Hunt]

I posted that same article & the one following it in the Business of Hockey forum this afternoon...

#8. Detroit Red Wings

• Value: $775 million
• One-Year Change: –3%
• Owner: Marian Ilitch
• Operating Income: $31.2 million


Was also surprised to see TBL ranked #21 & a $470M valuation.

 

[FMichael]

I posted that same article & the one following it in the Business of Hockey forum this afternoon...

#8. Detroit Red Wings

• Value: $775 million
• One-Year Change: –3%
• Owner: Marian Ilitch
• Operating Income: $31.2 million


Was also surprised to see TBL ranked #21 & a $470M valuation.

Just move them already to Quebec City...

 

[Ghost of Ethan Hunt]

Just move them already to Quebec City...

I vote for Florida.

 

[SirloinUB]

Good to see finances are in decent shape

 

[Retire91]

this is why I don't get the abby buyout, it wasn't going to even dent their overall finances. Aside form that quite minor gripe that is crazy amazing for the state of the franchise.

 

[Lil Sebastian Cossa]

this is why I don't get the abby buyout, it wasn't going to even dent their overall finances. Aside form that quite minor gripe that is crazy amazing for the state of the franchise.

Abdelkader was completely worthless as a hockey player. That's why they bought him out. It was floated that it was a completely financially driven move, but I think it's just that they didn't want to give 14M+ in real money to a completely dogshit player anymore. They'd rather pay $14M total, with 2/3rds of that money going to Abby and 1/3rd or less going to a player who will actually provide value. Too much was made of it being a penny-pinching move. I really think it was more of a reallocation of resources than anything else. And strictly speaking, it's going to end up being about a million in dead money for a couple more years so they can have an actually workable 4th line winger instead of the corpse of Justin Abdelkader.

 

[Stony Curtis]

this is why I don't get the abby buyout, it wasn't going to even dent their overall finances. Aside form that quite minor gripe that is crazy amazing for the state of the franchise.

I really think that was more of a message than anything else. We'll treat you good, we'll try to sign players to good contracts that make sense for both parties, but we'll also have certain expectations. If you don't meet those expectations, we reserve the right to do what we can to remedy that. I think that most players can appreciate that.

 

[Ghost of Ethan Hunt]

Can we please not turn this into another 18 page Abby thread, we already have one, thanks.

 

[Oddbob]

Justin Abdelkader is the heart and soul of the Red Wings. We probably made 15 of that 31 million just from him alone! We will miss him now that he is no longer a Red Wing.

 

[Shaman464]

I vote for Florida.

Alabama Crimson Wings or bust.

 

[The Zetterberg Era]

Just move them already to Quebec City...

QC isn't probably even in the top 5 discussion on expansion or relocation with the owners. Until they want that market it isn't going to happen no matter how much the Canadian media trumpets it. Especially if Montreal remains a no behind closed doors when they actually have a vote on these things.

 

[GMR]

Mantha's agent must not have been privy to these numbers.

 

[RedWingzz]

this is why I don't get the abby buyout, it wasn't going to even dent their overall finances. Aside form that quite minor gripe that is crazy amazing for the state of the franchise.

I think that was mainly for a roster spot to open up.

 

[19 for president]

I think that was mainly for a roster spot to open up.

I think it was a little bit of both. Abby was terrible like bottom 10 player in the NHL last year. Cutting him saved money and opened up a spot. I think this plays into culture and expectations too.

Wings just need to be better before all those corp lower bowl contracts are up, and their next FSD contract is up. I'd be curious to see how ratings have done year over year for the past few years.

 

[Kronwalled55]

Just more evidence for why the lotto goes in the Rangers' favor.

 

[FMichael]

QC isn't probably even in the top 5 discussion on expansion or relocation with the owners. Until they want that market it isn't going to happen no matter how much the Canadian media trumpets it. Especially if Montreal remains a no behind closed doors when they actually have a vote on these things.

Yeah - my comment was made 'tongue in cheek'.

 

[GettingYourMoms]

Draft some stud defenseman in 2021 and sign some good center and goalie. Suddenly we are playoff team again.

 

[GMR]

Draft some stud defenseman in 2021 and sign some good center and goalie. Suddenly we are playoff team again.

That's like saying that if I were taller and better looking, I'd have a much hotter girlfriend.

 

[BStinson]

That's like saying that if I were taller and better looking, I'd have a much hotter girlfriend.

It’s not what the outside looks like but the inside.

 

[RedWingzz]

That's like saying that if I were taller and better looking, I'd have a much hotter girlfriend.

Better hope your girlfriend doesn't roam around these boards....

 

[ArmChairGM89]

How far were we from the salary cap when this 31mil was calculated? Just curious if we were a competitive tram that capped out 31mil goes fast.

 

[13to40]

Better hope your girlfriend doesn't roam around these boards....

If she does, get your laptop out of the kitchen!!