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SBD/January 30, 2014/Media
New Local, National Media Deals Could Help Senators Invest More In On-Ice Product
Published January 30, 2014
ON-ICE INVESTMENT? In Ottawa, James Bagnall writes the deals will "almost certainly allow Melnyk to close a long-running gap between the operation’s revenues and costs." Melnyk, since acquiring the team and arena in '03, "has suffered a cumulative cash drain" of US$110M. Melnyk said of the broadcast deals, "This puts us on a solid footing. We are going to be competitive in spending on players." However, Melnyk also "made it clear" that, despite the extra broadcasting revenues, he "does not intend to shell out the maximum permitted under salary cap rules." He said, "We’re still going to spend wisely" (OTTAWA CITIZEN, 1/30).