OTTAWA will file for Bankruptcy...
- Thread starter TIME TO MAKE $$$
- Start date
The problem with the team is that their payroll has been too high for many years and they got themselves in debt.
Even though the team kicks ass and they generate a small profit now, their debts are catching up to them. Paying players in US$ but their revenue is in Cdn$ and fans won't pay the same money in Ottawa as fans would be willing to pay for Toronto.
There's also big bucks coming in when your team goes far in the playoffs and the Sens can't seem to get past the Leafs every year! That doesn't help.
So it's a combination of so many problems. It really doesn't help that our dollar is worth 60 cents US$. It seems like Canada is slowly becoming a third world country and everything great about it is going to hell.
Also, it won't be long before there will only be a couple of Canadian teams left in pro sports. Canadian teams have several issues they are battling. The climate is a big factor for players, even for hockey players who grew up in Canada. Many hockey players are into golf and if asked to choose between spending the season in Ottawa or Phoenix, most would choose Phoenix. Add in the tax disparity between Canadian and U.S. teams and it weighs even more heavily towards the U.S. Canadian teams can pay players in U.S. dollars, but they still take a Canadian bite out of their checks come tax time. How can they expect to compete for free agents when states like Texas and Florida offer a significant savings just based on taxes alone?
Customs is another issue few people pay attention to, but travelling over the border, especially since 9/11 is a major hassle. Everyone in pro sports does it (excluding football), but the Canadian teams do it for almost every game they play on the road. All it takes is one or two trips, where teams sit on a plane in the middle of the night, while someone tracks down a customs agent at 2AM.
I think Vancouver is one of the most beautiful cities in the world, but ask the average NBA player who is black, single and in his early 20s to choose between Vancouver, Atlanta, Miami, LA, New York and Chicago and you'll soon see why Vancouver could never attract quality free agents or keep good draft picks. Cities like Minneapolis, Green Bay and Salt Lake City are great for athletes who are married, but the single guys try to avoid those cities like the plague.
Then there's the weather. Where would you rather spend your winters, Dallas or Ottawa?
Even though the team kicks ass and they generate a small profit now, their debts are catching up to them. Paying players in US$ but their revenue is in Cdn$ and fans won't pay the same money in Ottawa as fans would be willing to pay for Toronto.
There's also big bucks coming in when your team goes far in the playoffs and the Sens can't seem to get past the Leafs every year! That doesn't help.
So it's a combination of so many problems. It really doesn't help that our dollar is worth 60 cents US$. It seems like Canada is slowly becoming a third world country and everything great about it is going to hell.
Also, it won't be long before there will only be a couple of Canadian teams left in pro sports. Canadian teams have several issues they are battling. The climate is a big factor for players, even for hockey players who grew up in Canada. Many hockey players are into golf and if asked to choose between spending the season in Ottawa or Phoenix, most would choose Phoenix. Add in the tax disparity between Canadian and U.S. teams and it weighs even more heavily towards the U.S. Canadian teams can pay players in U.S. dollars, but they still take a Canadian bite out of their checks come tax time. How can they expect to compete for free agents when states like Texas and Florida offer a significant savings just based on taxes alone?
Customs is another issue few people pay attention to, but travelling over the border, especially since 9/11 is a major hassle. Everyone in pro sports does it (excluding football), but the Canadian teams do it for almost every game they play on the road. All it takes is one or two trips, where teams sit on a plane in the middle of the night, while someone tracks down a customs agent at 2AM.
I think Vancouver is one of the most beautiful cities in the world, but ask the average NBA player who is black, single and in his early 20s to choose between Vancouver, Atlanta, Miami, LA, New York and Chicago and you'll soon see why Vancouver could never attract quality free agents or keep good draft picks. Cities like Minneapolis, Green Bay and Salt Lake City are great for athletes who are married, but the single guys try to avoid those cities like the plague.
Then there's the weather. Where would you rather spend your winters, Dallas or Ottawa?
IMO i have seen FAR worst places then Canada, it isn't even close to being 3 world. I know your just being sarcastic(sp?). But I agree with you on almost everything. The major problem the NHL has is players salaries. The NHL doesn't have the $$$ to pay for this, only a handfull of owners can pay from there own pocket, it isn't like the NBA/NFL they have a HUGE TV contract in the billions I believe while the NHL has $360 million contract. Plus they need a salary cap maybe around $45 million I say is far. I was always on the players side b4 & saying they were underpaid & owners didn't give there share to the players but if the NHL made the $$$ the NBA/NFL did then u can justify paying a player $10 million/year but u can't justify it now not with the way the state of the game is & SO MANY teams losing $$$. I think more then half the teams are losing $$$ or breaking even. I aslo like the idea of revenue sharing it may not be fare but if u want ALL the teams competitive that can help with the addition of a salary cap & salaries going down. If there is a strike it will hurt the game more in the US and that isn't a good thing.
If the Sens do leave I predit other teams moving has well including small US market teams or being contracted. If the sens start trading away there roster to save $$$ Bettmen will MOVE the team he won't degrade(sp?) the NHL or turn the Sens into the Expos of the NHL.
Has for the NBA in Vancouver I never cared for the nBA all the people I know never did has well & said they sucked, I guess Vanouver is a bandwagon city(just kidding no all/korn). If the grizzles were winning or EVEN IMPROVING they would be here for a little while longer plus they blow it with the asian population.The asians loved the NBA for some reason so the Grizzles should have marketed to them instead of ignoring them. Vancouver isn't a sports town but a HOCKEY TOWN.Maybe it could have been a basektball town ,maybe not who knows:shrug: Plus the population of Canada really hurts has well to get more PRO teams.
I do want a team in Oregon though badly, I may be biased, the city desverves it more then Columbus only reason Columbus got a team was I heard cuz Bettman and the owner were friends from way back:shrug: (in between Cleveland/Cincy will attract more fans if u say so Gary)
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The easiest way to keep the Sens alive...
drop the Buffalo Sabres and fully fund/support the Sens. Sabres, Sens, Sabres, Sens, hmmmmmmmmmmm! SENS SENS SENS!! The NHL will most likely consider dropping one of these clubs.
Peace
drop the Buffalo Sabres and fully fund/support the Sens. Sabres, Sens, Sabres, Sens, hmmmmmmmmmmm! SENS SENS SENS!! The NHL will most likely consider dropping one of these clubs.
Peace
Anthony,
I have to disagree with you on a few of your statements as they are false.
The Sens payroll this year is 31 million and in the bottom third of the league for payrolls. They have been in the bottom third of the league for all 10 years of their existance. The one thing the Sens have done right is keep their payroll in check and not spend ridiculous money on free agents. They have never signed a free agent in which they had to pay over 800,000 per year and that was just once. They signed Jody Hull to a 1 year deal this year for 450,000 as a free agent. They chose not to sign Benoit Brunet as a free agent as he was asking for close to a million a year, a player they aquired last year.
As for the bankruptcy issue their is a difference between that and Chapter 11 which is bankruptcy protection. The Sabres filed for bankruptcy due to the owners problems with Adelphia the parent company they own. So their is a huge difference with the two.
Think back 3 years ago when the Penguins filed for bankruptcy. Since Mario was one of the largest creditors owed money he had the opportunity to buy the team. Filing for bankruptcy will help the Sens because then they can lump the team and building together as an entity. The building makes large amounts of money each year. The Sens as a team made 5 million last year but because they are debt ridden dating as far back to the expansion fee they paid when you are paying anywhere from 15-20 million in interest a year the hole gets bigger and bigger.
If the Sens did not have to pay for their own off ramp at 38 million which the entire city uses for malls and high tech industries then these other problems would not have occurred.
This team will not move to Portland or anywhere else. If Paul Allen wanted a team he could have Nashville or Buffalo right now and it would cost less due to the financial responsibilities the Sens have with creditors. There are so many American markets suffering that Ottawa has no place to go in the U.S. for the above reasons and others that I could get into, but like I said yesterday I would be here for another hour or more. Anyhow, just the facts stated above and if anyone wants more info I can e-mail some stuff.
This is an insiders take as I have many sources within the organization.
Didn't mean to rain on your parade Anthony but I just wanted to set some of the facts straight, that's all. Hope all is well.
HORNS
I have to disagree with you on a few of your statements as they are false.
The Sens payroll this year is 31 million and in the bottom third of the league for payrolls. They have been in the bottom third of the league for all 10 years of their existance. The one thing the Sens have done right is keep their payroll in check and not spend ridiculous money on free agents. They have never signed a free agent in which they had to pay over 800,000 per year and that was just once. They signed Jody Hull to a 1 year deal this year for 450,000 as a free agent. They chose not to sign Benoit Brunet as a free agent as he was asking for close to a million a year, a player they aquired last year.
As for the bankruptcy issue their is a difference between that and Chapter 11 which is bankruptcy protection. The Sabres filed for bankruptcy due to the owners problems with Adelphia the parent company they own. So their is a huge difference with the two.
Think back 3 years ago when the Penguins filed for bankruptcy. Since Mario was one of the largest creditors owed money he had the opportunity to buy the team. Filing for bankruptcy will help the Sens because then they can lump the team and building together as an entity. The building makes large amounts of money each year. The Sens as a team made 5 million last year but because they are debt ridden dating as far back to the expansion fee they paid when you are paying anywhere from 15-20 million in interest a year the hole gets bigger and bigger.
If the Sens did not have to pay for their own off ramp at 38 million which the entire city uses for malls and high tech industries then these other problems would not have occurred.
This team will not move to Portland or anywhere else. If Paul Allen wanted a team he could have Nashville or Buffalo right now and it would cost less due to the financial responsibilities the Sens have with creditors. There are so many American markets suffering that Ottawa has no place to go in the U.S. for the above reasons and others that I could get into, but like I said yesterday I would be here for another hour or more. Anyhow, just the facts stated above and if anyone wants more info I can e-mail some stuff.
This is an insiders take as I have many sources within the organization.
Didn't mean to rain on your parade Anthony but I just wanted to set some of the facts straight, that's all. Hope all is well.
HORNS
Oh ya and another thing, all Canadian teams pay their players in US Dollars. Check the NHLPA site and you will see the salaries.
HORNS
HORNS
Chapter 11 allows them to reorganize which will work out extremely well for the Sens if they are making 5 million a year plus with this years team, I think they'll get by whoever and go pretty deep into the playoffs, if they can stay healthy. Speaking as a Buffalo Sabre fan, why didn't Rigas rip off a few extra Million and get me some goal scorers while I had Hasek?:shrug:
I know Buf is in trouble but I pray something works out. It's hard to get excited about them right now. I'm definately in favor of a salary cap as it has made the NFL much more exciting. Wish Baseball would do the same as I'm a Pittsburgh Pirate fan coming off our 10th losing season in a row.
Had to watch Bonilla, Drabek, Bonds, Gossage, and many others say good-bye because we couldn't afford them.:thefinger
No team loyalty anymore, it's all about the Money
Sens will be fine, Sabres may end up in Oregon, BUMMER:nono:
I know Buf is in trouble but I pray something works out. It's hard to get excited about them right now. I'm definately in favor of a salary cap as it has made the NFL much more exciting. Wish Baseball would do the same as I'm a Pittsburgh Pirate fan coming off our 10th losing season in a row.
Had to watch Bonilla, Drabek, Bonds, Gossage, and many others say good-bye because we couldn't afford them.:thefinger No team loyalty anymore, it's all about the Money
Sens will be fine, Sabres may end up in Oregon, BUMMER:nono:
Horns,
you do bring up a few good points and I should have posted BANKRUPTCY PROTECTION....
Thanks for the info bud!
I just hope for the team's sake that it doesn't affect the players or the fans...
P.S. if they face the Leafs the Sens will be in trouble!
you do bring up a few good points and I should have posted BANKRUPTCY PROTECTION....
Thanks for the info bud!
I just hope for the team's sake that it doesn't affect the players or the fans...
P.S. if they face the Leafs the Sens will be in trouble!
No doubt Anthony, the Leafs have the Sens number in the playoffs. Sens own them in the regular season when it doesn't count for much. Oddly though the mood around town is pretty good considering the crap that is going on. People believe it will help them alot in the long run with what is going on now. As they say, you have to hit rock bottom before you start to climb back up. Take care.
HORNS
HORNS
