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NHL Anti-Thread: Bad Business Decision Aggregator


The_Admiral

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How the hell is it that one year after the NHL had to beg for someone to buy the team for $170M, now someone willingly steps forward to buy half the team for $150M???

Edit: Also, who's doing the assessment when a team sells for $170M, writes a big red $24M on the ledger book and increases in value to $305M despite no real hope of ever earning a profit in their current location?

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Spoilers!

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If they lost $24 million over the last year, then they're the worst businessmen of all time and should never be allowed around legal tender again. The organization actually seemed to function relatively well. . .

ugh NEVER MIND

http://www.theglobeandmail.com/sports/hockey/shoalts-new-lifeline-could-keep-coyotes-from-changing-hands/article20906156/

The problem for the latest owners is the same as it was for all the previous owners – despite any claims to a successful first year, the Coyotes’ cash flow is not enough to service the franchise’s enormous debt. The team’s hockey-related revenue (HRR) for the 2013-14 season was said to be just $40-million, last among the NHL’s 30 clubs.

They spent $62 million on major-league payroll alone last year without taking any other expenses (coaches, office staff, travel, lodging, debt service) into account. The napkin math is looking bleak here.

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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If they lost $24 million over the last year, then they're the worst businessmen of all time and should never be allowed around legal tender again. The organization actually seemed to function relatively well. . .

ugh NEVER MIND

http://www.theglobeandmail.com/sports/hockey/shoalts-new-lifeline-could-keep-coyotes-from-changing-hands/article20906156/

The problem for the latest owners is the same as it was for all the previous owners – despite any claims to a successful first year, the Coyotes’ cash flow is not enough to service the franchise’s enormous debt. The team’s hockey-related revenue (HRR) for the 2013-14 season was said to be just $40-million, last among the NHL’s 30 clubs.

They spent $62 million on major-league payroll alone last year without taking any other expenses (coaches, office staff, travel, lodging, debt service) into account. The napkin math is looking bleak here.

They're a money sink. They always will be. Between the debt and crappy location they've been dead team walking since the day they broke ground in Glendale.

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How close were we to having the SEATTLE Coyotes: One vote close. http://seattletimes.com/html/hockey/2024716050_seattlenhl07xml.html?syndication=rss

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The CCSLC's resident Geelong Cats fan.

Viva La Vida or Death And All His Friends. Sounds like something from a Rocky & Bullwinkle story arc.

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No surprise that KeyArena is turning a profit now. It's the same deal as the Sprint Center in Kansas City: if you can rent out the facility for the nights there would have been an anchor tenant (and boy, it's certainly another meaning of "anchor" here, isn't it?), you'll come out ahead. Concerts are especially lucrative, as we learned with Atlanta Spirit evicting the Thrashers to book more concerts. Of course, you're kind of betting on yourself to fill those dates. The problem Glendale is having right now is that not only are the Coyotes not bringing in much with their games, they're not even doing much else with the arena above the bare minimum.

Just goes to show that this whole thing is an unsustainable industry made possible by subsidies from taxpayers and uninterested cable subscribers (who are also taxpayers). No wonder franchise values go up and up. The game is rigged.

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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Plus, you have to leave open a certain number of dates during playoff season for theoretical games the team might be playing. By the time you know for sure you won't need those dates, it's probably too late to book any decent replacement.

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How close were we to having the SEATTLE Coyotes: One vote close. http://seattletimes.com/html/hockey/2024716050_seattlenhl07xml.html?syndication=rss

Yeah, we noticed that in the thread last year.

  • Like 1
On 8/1/2010 at 4:01 PM, winters in buffalo said:
You manage to balance agitation with just enough salient points to keep things interesting. Kind of a low-rent DG_Now.
On 1/2/2011 at 9:07 PM, Sodboy13 said:
Today, we are all otaku.

"The city of Peoria was once the site of the largest distillery in the world and later became the site for mass production of penicillin. So it is safe to assume that present-day Peorians are descended from syphilitic boozehounds."-Stephen Colbert

POTD: February 15, 2010, June 20, 2010

The Glorious Bloom State Penguins (NCFAF) 2014: 2-9, 2015: 7-5 (L Pineapple Bowl), 2016: 1-0 (NCFAB) 2014-15: 10-8, 2015-16: 14-5 (SMC Champs, L 1st Round February Frenzy)

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How dare you get my hopes up with a title like that! But yea, things were close and yet the Coyotes manage to remain. I'm sure the day will come when they finally move, but I'm not sure if we'll be alive by then.

Edited by DustDevil61
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I'm not sure that's the best thread title.

Disclaimer: If this comment is about an NBA uniform from 2017-2018 or later, do not constitute a lack of acknowledgement of the corporate logo to mean anything other than "the corporate logo is terrible and makes the uniform significantly worse."

 

BADGERS TWINS VIKINGS TIMBERWOLVES WILD

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