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SBD/October 17, 2013/Franchises
Senators Owner Says Financial Losses Greater Than Reported, But Turnaround In Place
Published October 17, 2013
BUILDING A WINNER: He said of increasing payroll as the team is in the bottom third of the league, "We're not really 26th (in payroll and) … that doesn't really show the whole picture because the difference between being in the third quartile or first or second quartile is so miniscule." Melnyk noted the team has "spent the cap three straight years.” Melnyk: “We spent money for nothing … and that's not the way to win." He added, “I'm looking ten years out and saying, 'I know the cap's going up.' We just know the revenues are increasing throughout the whole league … and you do have to spend. But you don’t have to spend toe-to-toe with the guys that have money to throw around … and a lot of times they spend money for no reason. What they're doing is spending money to cover-up for mistakes." Melnyk said the team is in a "great, great spot where cap space is now a massive commodity. … It's like having three first-round draft picks."
IMPROVEMENTS COMING: He said upgrading the Canadian Tire Centre "is on the to-do list along with about 500 things before it." Melnyk: "We've got way too many boxes … and we're going to have to put some money into this building. But we spend millions of dollars a year in keeping it maintained so we’ve done a good job in maintaining it. It's just going to need some upgrades and I recognize that" (TSN Radio 1200, 10/16).