Kukla's Korner Hockey
Caps Improve Bottom Line
by Paul on 04/18/06 at 12:13 PM ET
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from the Washington Times,
The Washington Capitals are expected to reduce their financial losses by nearly 75 percent this season because of a lower payroll and a new financial structure for the NHL that will provide the team with millions of dollars in revenue-sharing payments.
Caps owner Ted Leonsis said he expects to lose about $5 million this year, a sharp change from past seasons when high payrolls contributed to tens of millions of dollars in losses. He also said the team should be profitable by next season as long as fan interest increases.
“We’re a young, growing team, and there are better days ahead,” Leonsis said.
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