Bettman Remains Bullish On NHL Despite Cloudy Economic Future
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Bettman Says NHL Is Expecting "Real
Economic Growth This Year" |
NHL Commissioner Gary Bettman yesterday at the league's BOG meetings in Palm Beach, Florida, insisted that "despite terrible global economic forecasts and indications that some NHL clubs are bleeding red ink, his 30-team league is doing better than many suggest," according to Damien Cox of the TORONTO STAR. Bettman: "We are expecting real economic growth this year. I know some have accused me of being either Pollyanna-ish or optimistic. This is based on a very real assessment from our clubs in terms of how they're seeing their businesses. It doesn't mean every club is in perfect shape. Some clubs that aren't performing well weren't performing well a year ago. It's not a function of the economy" (TORONTO STAR, 12/10). More Bettman: "The NHL will be fine. We may have to focus on the way we are operating into the future, in terms of the value proposition for fans and cost controls and the like, but none of our clubs are in jeopardy. The games will be played and we are doing OK this season. Revenues will be up and there will be real growth" (NHL.com, 12/9). The AP's Sarah Larimer reported a banker and an economist spoke at yesterday's BOG meeting, "helping owners and executives assess the financial landscape." Maple Leaf Sports & Entertainment President & CEO Richard Peddie said the speakers were "nicknamed Dr. Doom and Gloom, I think, after hearing that" (AP, 12/9).
PUT A CAP ON IT: The GLOBE & MAIL's Sean Gordon reports for the first time since the '04-05 lockout season, the NHL salary cap next year is expected to "remain virtually unchanged, within hailing distance" of this season's $56.7M cap. Bettman yesterday said of the salary limit for the 2009-10 season, "Up a little, a million or two, or down a little, a million or two." But Gordon notes there could be a "precipitous drop in the cap for the 2010-11 season if revenue falls." That drop could "foreshadow the owners dipping into the escrow fund -- where a healthy percentage of player salaries are withheld -- to offset lost revenue, a development that isn't likely to please" the NHLPA. Red Wings GM Ken Holland said, "We're going into territory that nobody's really been in. So to say I've got a game plan, I don't know how anybody could have a game plan." Also, Gordon reports "preliminary discussions are under way among the six Canadian clubs to pool their resources for things such as currency hedges and bulk jet-fuel purchases and to lobby for schedule tweaks to favour matchups between them and simplify cross-continental travel" (GLOBE & MAIL, 12/10). Senators Owner Eugene Melnyk said of the economy's effect on spending, "You have to have caution, and that's exactly the marching orders that [Senators GM Bryan Murray] has. ... We're working on various scenarios and one of them is based on a significant downturn in the economy, if it happens" (CP, 12/9).
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Coyotes Deny Rumors That Team Could Face
Trouble Meeting Player Payroll This Season |
TREADING CAREFULLY: ESPN.com's Pierre LeBrun wrote NHL teams in the upcoming offseason will "need to show some measure of restraint," or else "risk Armageddon in the 2010-11 season, when the salary cap possibly goes down." For teams such as the Coyotes, Predators, Panthers, Thrashers and Islanders, the "picture isn't pretty -- empty seats, a worsening economy and no light at the end of the tunnel." But Bettman said, "Some of it relates to performance. Those issues haven't changed. In other words, if you blur them with the economy, that's not the accurate portrayal." Meanwhile, Coyotes President & COO Douglas Moss "denied rampant rumors that the club may have trouble making player payroll at some point this season." Moss: "We haven't missed payroll. We don't anticipate missing payroll at all. We're just losing money. Our ticket sales are up; the team is playing better on the ice. ... If we stay on course and compete on the ice like we have, we're going to be in great shape" (ESPN.com, 12/9).
EUROPEAN VACATION: Bettman yesterday also indicated that the NHL is "considering an investment" in the Champions Hockey League (CHL), a 12-team tournament of Europe club teams. The TORONTO STAR's Cox notes the NHL reportedly is "looking at an investment of as much" as 50% in the CHL, an "aggressive move in the European market" (TORONTO STAR, 12/10).
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