Hurricanes GM Rutherford Says Team Lost $18-20M Last Season

Hurricanes GM Jim Rutherford said the team lost last season "somewhere around $18 million to $20 million, roughly the same as we lost the season before," according to Caulton Tudor of the Raleigh NEWS & OBSERVER. Rutherford also estimates that "maybe eight to 10 NHL teams ended the season with a profit. Another four to six, he thinks, broke even or came close." But the rest of the franchises "wound up in the same boat" as the Hurricanes. Rutherford: "That's why we're seeing such a constant turnover in team ownership in the league. People get into this business expecting one thing and then find out it's something entirely different financially. We're just lucky in that our owner is willing to absorb the losses" (Raleigh NEWS & OBSERVER, 7/12).