Kukla's Korner Hockey
Rising Loonie To The Rescue
by Paul on 10/29/09 at 06:57 AM ET
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from Robert Cribb of the Toronto Star,
The call of the soaring loonie could help chart a northward migration path for NHL clubs.
Once an economic albatross blamed in part for the failures of the Winnipeg Jets and Quebec Nordiques, the ascending Canadian dollar is suddenly enriching Canadian-based clubs, single-handedly increasing NHL revenues and crafting a new financial argument for more NHL hockey in Canada.
“A host of southern U.S. cities might now be more likely to lose their NHL teams,” said Andrew Zimbalist, an eminent sports economist based in Massachusetts who testified on behalf of Jim Balsillie in his recent failed bid to purchase and move the Phoenix Coyotes to Hamilton.
“Canada becomes that much more attractive.”
Every three-cent jump in the value of the Canadian dollar triggers a 1 per cent revenue increase for the NHL, say league insiders.
Filed in: NHL Teams, NHL Talk | KK Hockey | Permalink
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