Kukla's Korner Hockey
Canadian Dollar Helping The NHL
by Paul on 12/01/09 at 10:44 PM ET
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from Ken Belson and Jeff Z. Klein of the New York Times,
Over the past two decades, the Canadian teams in the N.H.L. were considered poor cousins of their wealthier colleagues in the United States. Some floundered financially, others packed up and moved south. The league even created the Canadian Assistance Program to subsidize the country’s struggling teams.
But the landscape in Canada has changed drastically, thanks to a rise of more than 50 percent in the Canadian dollar since 2002. A stronger currency has made it cheaper for the six Canadian teams to pay their players in United States dollars and to reduce debts.
It has also inflated the revenues of the six Canadian franchises and, in turn, the league’s revenues. That has hurt some of the weaker teams in the United States by pushing up the minimum amount teams must spend on payroll.
Filed in: NHL Teams, NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
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