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Loonie Talk
by Paul on 09/04/08 at 05:44 AM ET
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from Bruce Dowbiggin of the Calgary Herald,
In any event, the decline in the loonie is great news if Canadians have a product Americans want (wonder what that might be?) that they can now buy at it lower price. But it is not a good omen for industries that get a bounce from parity between the dollars.
Exhibit A for those businesses that crave a dollar at par would be the National Hockey League. With 31 per cent of league ticket revenues reportedly coming from Canada last season, even a five-cent drop in the dollar is a major issue. As well, NHL teams doing business in Canadian dollars and paying out salaries and benefits in American greenbacks don’t want any decrease in the dollar. Even a drop of five cents on Miikka Kiprusoff’s $8.5 million salary costs Calgary an extra $425,000.
Filed in: NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
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Inaccurate. The NHL’s revenues have also grown because every team has raised ticket prices, some repeatedly (and by significant margins), and while the Canadian teams constitute a third of the league’s revenue, the league’s American cash cows aren’t exactly struggling, either. If ticket price increases stop immediately, it might be time to worry if you’re a player, but that’s not going to happen, and the Loonie isn’t going to plummet, either.
Posted by George Malik from South Lyon, MI on 09/04/08 at 06:16 AM ET