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Ducks Owners See Annual Losses Decrease, Anticipate Being Competitive Below Cap

Ducks Owners Henry and Susan Samueli said that they have "pared their annual losses to 'less double-digit millions' thanks to increased revenues and revenue-sharing provisions opened to them in the latest collective bargaining agreement, and they affirmed their commitment to maintaining family ownership of the franchise," according to Helene Elliott of the L.A. TIMES. The Samuelis are "optimistic the Ducks will be highly competitive while operating on a budget" set at about $7M below the NHL's $71.4M cap. Their budget "reflects the team's place in the lower half of revenue rankings among the NHL's 30 teams." Henry Samueli said profitability is "something to dream about." He added, "It's not impossible for that to occur. As long as we can continue this steady climb it's definitely possible and it's certainly a goal, at least to get to break-even. A grand goal. If we get to break-even we're all drinking champagne. ... We're still losing money, but it's getting better and we're on a good path and we feel good about it. Fortunately my other businesses are doing well. Broadcom has done incredibly well. So we can sustain the negative cash flow." Meanwhile, Samueli also said the prospect of bringing an NBA team to Honda Center as a tenant, in the past considered a possibility, "is pretty much dead." He added, "As far as I can tell there's nothing going to happen in the short- to mid-term. Who knows what happens in the long term?" (L.A. TIMES, 10/10).

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