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Weakening Dollar A Sign Of Trouble
by Paul on 11/19/08 at 04:46 PM ET
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from the CP via TSN,
Montreal Canadiens president Pierre Boivin fears that the sagging loonie could send Canadian NHL teams spiralling back into the dark economic days that preceded the lockout.
Boivin says the league’s six Canadian clubs are thriving at the gate and bring in more than a third of the total revenue for the 30-team NHL.
But he identified the tumbling dollar as one of three threats to the continued viability of Canadian clubs.
added 6:01pm, from Frederic Tomesco at Bloomberg,
More declines in the Canadian currency would recreate the situation that existed before the lockout, when most Canadian clubs were unprofitable, Boivin said. The Canadiens paid out $18 million last season to other NHL clubs as part of the revenue- sharing system, he said.
more if you are interested in the business side of the NHL…
Filed in: NHL Teams, NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
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