ForeverHabs97
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Les joueurs de la LNH sont sérieusement endettés | Coronavirus
Very interesting article by Martin Leclerc I read in french.
Quick translation for you;
''According to information across the league, the players still ''owe'' 600 million dollars to the owners. It will take lots, and lots of time to erase this debt.''
''It's the reason why, despite the publicly reserved expressions by members of the NHLPA in the last week or so, it's likely that both parties are willing to put all of their efforts to present playoffs.''
Explanation: Before the pandemic stopped the NHL season March 12th, the league was headed towards 5.09 billion dollars earned in 2018-2019. With the CBA set at 50/50, the players were assured 2.5 billion in salary.
Up until now, the players had earned 2.36 of that 2.5 billion. They decided to wait before cashing in their remaining 140 million dollars of the season.
THE PROBLEM: 1.2 billion dollars of revenue are currently missing, due to the revenue not earned from the playoffs I'm assuming. Therefore, the article states the players owe 600 million to the owners. Their debt may be even a little heavier because the television broadcasters and sponsors did not obtain all of their games that appeared in their contract for the duration of the season. Teams may need to negotiate reimbursements or compensations with their partners.
Solution: By giving up their last paycheck, the players would erase a quarter of their debt. By having playoffs with empty stands, they would be able to reimburse another 150 million. (Estimation of a 300 million revenue in this article)
This would leave 300 million to reimburse to the owners. They will have to negotiate on wiping this debt clean.
The article continues by saying with the uncertainty of the fans being present at the arenas due to Covid-19 and the actual start date (maybe January) of the season 2020-20201, the revenue needed to reimburse the owners may be harder to come by.
Conclusion: The owners and the players will do everything they can to present playoffs starting in august in order to help erase their estimated 300 million dollar debt to the owners.
Very interesting article by Martin Leclerc I read in french.
Quick translation for you;
''According to information across the league, the players still ''owe'' 600 million dollars to the owners. It will take lots, and lots of time to erase this debt.''
''It's the reason why, despite the publicly reserved expressions by members of the NHLPA in the last week or so, it's likely that both parties are willing to put all of their efforts to present playoffs.''
Explanation: Before the pandemic stopped the NHL season March 12th, the league was headed towards 5.09 billion dollars earned in 2018-2019. With the CBA set at 50/50, the players were assured 2.5 billion in salary.
Up until now, the players had earned 2.36 of that 2.5 billion. They decided to wait before cashing in their remaining 140 million dollars of the season.
THE PROBLEM: 1.2 billion dollars of revenue are currently missing, due to the revenue not earned from the playoffs I'm assuming. Therefore, the article states the players owe 600 million to the owners. Their debt may be even a little heavier because the television broadcasters and sponsors did not obtain all of their games that appeared in their contract for the duration of the season. Teams may need to negotiate reimbursements or compensations with their partners.
Solution: By giving up their last paycheck, the players would erase a quarter of their debt. By having playoffs with empty stands, they would be able to reimburse another 150 million. (Estimation of a 300 million revenue in this article)
This would leave 300 million to reimburse to the owners. They will have to negotiate on wiping this debt clean.
The article continues by saying with the uncertainty of the fans being present at the arenas due to Covid-19 and the actual start date (maybe January) of the season 2020-20201, the revenue needed to reimburse the owners may be harder to come by.
Conclusion: The owners and the players will do everything they can to present playoffs starting in august in order to help erase their estimated 300 million dollar debt to the owners.