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"I think we agree. The past is over"
"I think we agree. The past is over"
Princess Leia: I happen to like nice men.
Han Solo: I'm a nice man.
Hockey Talk — Page 13
"I think we agree. The past is over"
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and
"I understand small business growth. I was one"
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NHL Owners Meet to Discuss Next Season
RALEIGH, N.C. (Reuters) - NHL owners will meet in New York Tuesday to discuss ways to restart their darkened game next season.
The meeting will be the first since NHL Commissioner Gary Bettman canceled the 2004-05 season on February 16 after failing to conclude a new collective bargaining agreement with the players union.
It was the first time a North American professional sport lost an entire season due to a labor dispute.
NHL players, their agents and union officials will hold meetings of their own in Toronto this week.
The sides have been unable to reach an agreement during months of negotiations, including one session after Bettman canceled the season.
The main sticking point in negotiations was the imposition of a salary cap. The union reluctantly agreed to one at the last minute, but the two sides were more than $6 million apart per team on what the figure should be.
Pittsburgh Penguins (news) player/owner Mario Lemieux (news) believes it is critical to have a new collective bargaining agreement in place this spring.
If that doesn't happen, there could be massive damage to the league's economic infrastructure, Lemieux told the Pittsburgh Post-Gazette.
"The players really have to understand that the ability to maximize revenues next year is dependent on reaching an agreement as soon as possible," Lemieux said.
"The longer we wait, the more challenging it's going to be for us to generate enough revenues.
"At the end of the day, you can only afford to pay the players so much. The longer we wait, the smaller the pie's going to be and the less there's going to be for the players."
Boston Bruins (news) owner Jeremy Jacobs acknowledged the labor problems began when owners agreed to meet the salary demands of the players, driving the average salary from $271,000 in 1990-91 to $1.8 million last season, though they were now determined to address the problem.
"We're taking control of our destiny," he told the Buffalo News. "We have to fix it."
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Disney Unloads Mighty Ducks
Despite questions about whether the National Hockey League will continue to exist after cancelling the entire 2004-05 season, Broadcom co-founder Henry Samueli and his wife Susan have agreed to buy the Mighty Ducks hockey team from the Walt Disney Co. presumably at a fire-sale price. Actual terms were not disclosed, but some reports said that the deal was worth about $75 million. Disney had paid an estimated $50 million expansion fee to launch the team in 1993 but is believed to have lost hundreds of millions of dollars since -- as much as $31 million last season alone, according to one report. It even reportedly lost $12 million in the 2002-03 season, the year it reached the Stanley Cup final.
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3/3/2005
TORONTO - An investment firm and a sports advisory company reportedly made a joint proposal to buy all 30 NHL teams for as much as $3.5 billion.
Bain Capital Partners LLC and Game Plan International, both based in Boston, made the offer in a 30-minute presentation to NHL owners on Tuesday in New York, sources told the Toronto Star. The companies were invited to make their pitch by NHL commissioner Gary Bettman.
Bain managing partner Steven Pagliuca, co-owner of the NBA's Boston Celtics, and Game Plan, which recently acted as an adviser on the sale of the Ottawa Senators, are betting that many NHL owners would welcome the chance to get out of the hockey business.
The NHL, which because of its ongoing player lockout recently became the first major North American pro sports league to cancel an entire season, has said its teams have lost a collective $500 million over the past two seasons.
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It's unclear if team owners, especially those in large markets such as Toronto, Boston and New York, would accept the offer. Maple Leafs officials declined comment, as did a Game Plan spokesman.
NHL executive vice president Bill Daly was cautious in describing the level of interest the proposal received from the governors.
"I'm not going to characterize it," Daly told the Globe and Mail. "I would imagine different clubs had different feelings. The board listened to a presentation and that's about it."
Daly said the league was compelled to listen based on the significance of the offer.
"When someone's offering over $3 billion, we felt we had an obligation to the board to have them, at least, hear it from the proposed purchaser," Daly added.
The purchase would not be dependent on the NHL reaching agreement with the players on a collective bargaining deal, and a sale would not affect the status of the NHL Players' Association as the bargaining agent for players under U.S. and Canadian labor laws.
According to Bain and Game Plan, the sale would bolster the league's revenue because all of the teams would work together to generate more local television, sponsorship and revenue instead of competing against one another. The consortium told the NHL owners it had arranged for a large Canadian-based financier to join its efforts.
just some interesting news in the business of sports.
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also they are pay 100 mill per team and then 500 mill for the league itself. its not that bad when you look at it like that.
also one company owning the entire league could be a good thing. one of the biggest probables with the NHL right now is that team owners are competing with eachother, and this is causing a huge demad for good player, thus the salaries are rising. however there are so man cases where a player may have 1 40 goal season then expect to get paid the same as a player that gets 40 goals every season. in that way the inflation has risen to a point were the league was losing too much money. a perfect example of this is bobby holek with the rangers he is at the most a 2.5 - 3 mill defenceman. but the rangers are paying him 7 mill, why because he had one or two season where he played really well and the rangers saw this so they jsut out bid everyone else and paid him 7 mill.
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now vancouver tampa detroit and colorado have been have all been able to do this but vancouver and tampa keep there salaries low, and teams like colorado and detroit buy up all the tallented players
on the side the players and the NHL are meeting again this week in hopes to gun out a deal. this comes after the two sides met with there respective members last week. the meeting was offered by the NHL, giving us reason to believe that they have some ideas to bridge the gap and save the last bit of the 04-05 season, the NHL draft.