Sale of the Sens - the renewal WC let us all down...

[Gil Gunderson]

There was a tweet not long ago saying essentially "Only Eugene Melnyk will find a way to become a bigger ******* after a near death experience".

He’s probably the same piece of shit, just with less money.

His accounting fraud happened years ago.

 

[Tnuoc Alucard]

. Euge shows losses on the team while not reporting any profits from the team driven entities

This is exactly how all the other 30 NHL owners operate their Franchises ..... the team is a separate entity from the Arena that they may or may not own.

All "team driven entities" profits, AKA HRR ,are reported, as it's required by the CBA ....... so not sure what you're trying to say here?

 

[Engineer]

This is exactly how all the other 30 NHL owners operate their Franchises ..... the team is a separate entity from the Arena that they may or may not own.

All "team driven entities" profits, AKA HRR ,are reported, as it's required by the CBA ....... so not sure what you're trying to say here?

He's saying it's disingenuous, as has every person who has ever brought this point up.

 

[joestevens29]

Melnyk should be like Jackie Moon.

I would love that.

You just want him to fight that bear that actually attacked someone?

 

[Gil Gunderson]

Any guesses as to when Melnyk will come out of his bunker and make a public/media appearance?

 

[Tnuoc Alucard]

He's saying it's disingenuous, as has every person who has ever brought this point up.

The Owner is required (CBA) to show the profits/losses of the Franchise.

If the Owner also owns the Arena, and it's a privately run entity, as most are, there is no requirement to show profits/losses to anyone.

EM bashers just like to lump the two separate entities together, and make unsubstantiated accusations that EM is "milking the team" and "hiding profits" and other types of comments, as it makes their axe easier to grind .......... even though there is no way they can know the actually financial viability of the Arena.

 

[Micklebot]

The Owner is required (CBA) to show the profits/losses of the Franchise.

If the Owner also owns the Arena, and it's a privately run entity, as most are, there is no requirement to show profits/losses to anyone.

EM bashers just like to lump the two separate entities together, and make unsubstantiated accusations that EM is "milking the team" and "hiding profits" and other types of comments, as it makes their axe easier to grind .......... even though there is no way they can know the actually financial viability of the Arena.

Nobody is disputing that the owner has no obligations to show non-hockey related revenues associated with owning the CTC, what's being argued is it is entirely disingenuous to separate the two entities when discussing the profitability of owning a franchise. Whether or not he has made or lost money when all is taken into account is speculation, and it's fair to point out that we don't have access to that info and can't know for sure one way or the other.

But it's an odd hill to die on that the profits/revenues of two symbiotic entities such as a franchise and it's venue should not be considered together when owned by the same person. Put it this way, if you were deciding whether or not to buy a franchise/venue, you'd be a fool not to take the profitability of both and all ancillary
revenue streams that arise as a result of ownership into account.

 

[Cat Herder]

The Owner is required (CBA) to show the profits/losses of the Franchise.

If the Owner also owns the Arena, and it's a privately run entity, as most are, there is no requirement to show profits/losses to anyone.

EM bashers just like to lump the two separate entities together, and make unsubstantiated accusations that EM is "milking the team" and "hiding profits" and other types of comments, as it makes their axe easier to grind .......... even though there is no way they can know the actually financial viability of the Arena.

The thing is when you own both you can hide profits. Lets say the Sens were to finish the year with a modest $1 Million profit. The arena (owned by Melnyk) could then just charge them an additional $1 Million for "other services" to make it look like no profit was made. While I assume the lease fees are laid out, there are often loopholes in this type of contract that allow additional upkeep charges to be levied if needed (dressing room upgrade for example)

 

[joestevens29]

The thing is when you own both you can hide profits. Lets say the Sens were to finish the year with a modest $1 Million profit. The arena (owned by Melnyk) could then just charge them an additional $1 Million for "other services" to make it look like no profit was made. While I assume the lease fees are laid out, there are often loopholes in this type of contract that allow additional upkeep charges to be levied if needed (dressing room upgrade for example)

The issue I have is yes the team may not make money, but would you have the arena without the team?

He's not lying if he says the team is losing money, but if he's overall making money and to come out crying that the Sens are costing him money just isn't right.

 

[Gil Gunderson]

There are few teams that actually make money after debt expenses. There is nothing unique about this team's financial situation.

 

[Sensung]

A group just spent $500 M dollars to buy a franchise in an unproven market where hockey is well out of the top 10 list of things to do.

Another group is reported to be looking at $650 M dollars to buy a franchise in a market that couldn't support the NBA.

Are people really naive enough to believe that owning an NHL franchise in a mid sized hockey crazy market like Ottawa is not a good investment?

 

[Sensung]

The Owner is required (CBA) to show the profits/losses of the Franchise.

If the Owner also owns the Arena, and it's a privately run entity, as most are, there is no requirement to show profits/losses to anyone.

EM bashers just like to lump the two separate entities together, and make unsubstantiated accusations that EM is "milking the team" and "hiding profits" and other types of comments, as it makes their axe easier to grind .......... even though there is no way they can know the actually financial viability of the Arena.

I get why EM and his mouthpieces want to be disingenuous and mislead the public by separating the two entities.

My question to you is, why do you want to fight to maintain the facade?

 

[Zorf]

If Eugene sells, I'll put you up at my place for the weekend and we can pre-drink all afternoon before taking a limo to the game together.

If Eugene sells, I will go to the same game with Sensung and give him (or her?) a deep and passionate kiss when we get on the Kiss Cam.

 

[Sensung]

If Eugene sells, I will go to the same game with Sensung and give him (or her?) a deep and passionate kiss when we get on the Kiss Cam.

I'll take the beer and free ticket, but you can keep your kiss. (I save those for my wife)

 

[Burrowsaurus]

There are few teams that actually make money after debt expenses. There is nothing unique about this team's financial situation.

you dont buy an nhl franchise to get rich

 

[Burrowsaurus]

If Eugene sells, I will go to the same game with Sensung and give him (or her?) a deep and passionate kiss when we get on the Kiss Cam.

ill go to a game with formenton for the future..

wait wheres that other guy whos name is escaping me he used to always have formentonforthefuture's back. always said this org was run ultra smooth.. thought the burrows trade was an absolute masterstroke

 

[Zorf]

I'll take the beer and free ticket, but you can keep your kiss. (I save those for my wife)

I SAID PASSIONATE KISS!

But seriously, if Eugene sells, there will be some kissing. You've all been warned.

 

[YouGotAStuGoing]

you dont buy an nhl franchise to get rich

True. Most people who buy hockey teams have them as toys and write off the capital losses toward their more profitable business ventures – of which Melnyk has none of note.

 

[Engineer]

True. Most people who buy hockey teams have them as toys and write off the capital losses toward their more profitable business ventures – of which Melnyk has none of note.

Equity investment.

Break even for 15 years then sell it for 5x the original value.

 

[YouGotAStuGoing]

Equity investment.

Break even for 15 years then sell it for 5x the original value.

Bingo. Especially since he bought the team AND the arena for a song. No-brainer. The crying poor is a bad joke.

 

[Gil Gunderson]

The delusional part of me says maybe related to a sale. The realistic part of me says another scandal.

edit:



Nahhhhhh

 

[Engineer]

The delusional part of me says maybe related to a sale. The realistic part of me says another scandal.

oh god

 

[armani]

oh god

The sale? Please Alfie please!!

 

[BondraTime]

The delusional part of me says maybe related to a sale. The realistic part of me says another scandal.

Is this aside from Duthie saying the dressing room knew with 2 months left in the season?

 

[Engineer]

The sale? Please Alfie please!!

You know our luck.