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NEELY


Mod
Mod
Jesus people, why do you keep talking about Melnyk and him losing money on the Sens. The OTTAWA SENATORS and CTC do no lose money, they turn a profit almost every year. Now, how Melnyk and his creative accounts want to recognize revenue's and expenses is totally up to them.

How much money does Melnyk make off the capital tickets fees for Sens games? You can play with the numbers, record revenues in other places, expenses under the Sens and boom, you have a big loss each year. He could easily be making the 10 mil he claimed he lost last year if he reports it a certain way.

People still fail to acknowledge that Melnyk's other business' are hurting, he can't develop his land, and he's using the Sens as a whole for leverage against the city. Alfie leaving town was a shot across the bow, Melnyk flexing his muscle to put people in a panic and clearly it worked. The guy may refuse to spend money out of spite, we'll see but the Sens are in no trouble financially... again, THE OTTAWA SENATORS MAKE MONEY.

tim1_2


Franchise Player
Franchise Player
So, it's like you're trying to say that our owner is creating problems for our hockey club. You almost make it sound like he had something to do with Alfie leaving. Which might actually make people angry...but that can't be possible, can it?

Hoags


All-Star
All-Star
NEELY wrote:Jesus people, why do you keep talking about Melnyk and him losing money on the Sens.  The OTTAWA SENATORS and CTC do no lose money, they turn a profit almost every year.  Now, how Melnyk and his creative accounts want to recognize revenue's and expenses is totally up to them.  
He probably is but you have no way of knowing that for sure and how much. The franchise value has gone up, and if estimates are correct that it's worth $300M that's an indicator but again only an estimate.

More like he should be making money, because a hockey team losing money in Canada is unfathomable.

Crippling the team out of spite makes no sense either.  He can scare the fans and use them as leverage but intentionally running the team like Charles Wang won't help him or the franchse(value) either.

NEELY


Mod
Mod
Put it this way, I can basically guarantee (without seeing the statements) you that the Sens are a tenant of CTC and those expenses hit the Sens books. He can charge himself whatever he wants along with the expenses of running the CTC during hockey games which would also hit the Sens books. It's crap like that.

He's not crippling the team right now because it's in the best spot its been in since 2003 in terms of current and future success. Like I said, I'll worry when something major happens, until then I will enjoy the hockey.

NEELY


Mod
Mod
tim1_2 wrote:So, it's like you're trying to say that our owner is creating problems for our hockey club.  You almost make it sound like he had something to do with Alfie leaving.  Which might actually make people angry...but that can't be possible, can it?
Preaching to the wrong person here when it comes to Melnyk.

DefenceWinsChampionships


Veteran
Veteran
The team won't be relocated. Too much money to be made in the Canadian market. I think Eugene is just a poor investor and like Neely said, is financing his other companies through revenues and profits earned via the Senators. If this is the case, it's a problem the NHL needs to address as I am sure there are caveats pertaining to profit sharing, etc that Melnyk is probably trying to get his hands on for additional (free) money.

That doesn't help fix his tarnished reputation in Ottawa and around the NHL. I'd say his best bet is to sell the team but from what all Yost's blogs were saying, the Senators might be the only profitable business he owns right now.

Hoags

avatar
All-Star
All-Star
NEELY wrote:Put it this way, I can basically guarantee (without seeing the statements) you that the Sens are a tenant of CTC and those expenses hit the Sens books.  He can charge himself whatever he wants along with the expenses of running the CTC during hockey games which would also hit the Sens books.  It's crap like that.  

He's not crippling the team right now because it's in the best spot its been in since 2003 in terms of current and future success.  Like I said, I'll worry when something major happens, until then I will enjoy the hockey.
Yes you're right I know. Most teams operate like that and they can always claim they lose money(and it's beneficial for tax purposes as well I think).

I don't think any owner would intentionally cripple a team unless he had no choice (ie. no $$). Fans come more and spend more when a team is winning.

DefenceWinsChampionships


Veteran
Veteran
Let's also not forget about the money they make on parking. That in itself can probably accounts for a few salaries every year.

DefenceWinsChampionships


Veteran
Veteran
And the amount of money Melnyk would have lost because of the lock out.

NEELY


Mod
Mod
DefenceWinsChampionships wrote:The team won't be relocated. Too much money to be made in the Canadian market. I think Eugene is just a poor investor and like Neely said, is financing his other companies through revenues and profits earned via the Senators. If this is the case, it's a problem the NHL needs to address as I am sure there are caveats pertaining to profit sharing, etc that Melnyk is probably trying to get his hands on for additional (free) money.

That doesn't help fix his tarnished reputation in Ottawa and around the NHL. I'd say his best bet is to sell the team but from what all Yost's blogs were saying, the Senators might be the only profitable business he owns right now.
Not only that, he essentially bought the Sens on equity... he now (and always has) had to pay large amounts of interest which he can claim are loses... when in fact if he had outright bought the Sens with cash in hand he wouldn't be paying these rates... and as the cost of borrowing goes up like we are seeing now and the fact he isn't exactly liquid at this point of course he is going to cry poor. If he didn't owe the bank millions for the Sens, even if Melnyk wanted to cook the books a little to make the Sens look like a loser he couldn't and if he could it would be minimal to say the least.

Either way, the Sens will be better off with a new owner.  Canadian Tire will eventually buy the Sens IMO.

NEELY


Mod
Mod
DefenceWinsChampionships wrote:Let's also not forget about the money they make on parking. That in itself can probably accounts for a few salaries every year.
I would love to see what CTC makes each year.

Hoags

avatar
All-Star
All-Star
NEELY wrote:
Either way, the Sens will be better off with a new owner.  Canadian Tire will eventually buy the Sens IMO.
He'd have the sell the team first and if he can still make money from the team, which he needs to pay off his loans he has no reason to sell.

There were quite a few interested parties last time, so if the team were for sale I imagine there'd be a good amount of interest.

sandysensfan


Veteran
Veteran
NEELY wrote:
DefenceWinsChampionships wrote:The team won't be relocated. Too much money to be made in the Canadian market. I think Eugene is just a poor investor and like Neely said, is financing his other companies through revenues and profits earned via the Senators. If this is the case, it's a problem the NHL needs to address as I am sure there are caveats pertaining to profit sharing, etc that Melnyk is probably trying to get his hands on for additional (free) money.

That doesn't help fix his tarnished reputation in Ottawa and around the NHL. I'd say his best bet is to sell the team but from what all Yost's blogs were saying, the Senators might be the only profitable business he owns right now.
Not only that, he essentially bought the Sens on equity... he now (and always has) had to pay large amounts of interest which he can claim are loses... when in fact if he had outright bought the Sens with cash in hand he wouldn't be paying these rates... and as the cost of borrowing goes up like we are seeing now and the fact he isn't exactly liquid at this point of course he is going to cry poor.  If he didn't owe the bank millions for the Sens, even if Melnyk wanted to cook the books a little to make the Sens look like a loser he couldn't and if he could it would be minimal to say the least.

Either way, the Sens will be better off with a new owner.  Canadian Tire will eventually buy the Sens IMO.
It was stated in the Ottawa Citizen article that he bought the team half cash and half loans. He wanted to pay all cash but couldn't sell his Biovail shares during that time due to the 'blackout period'..

I'm sure spending to the cap like he did for several years and the team not playing more than 2 or 3 playoff rounds hurt the finances... but the last few years.. I can't believe with the low payroll and the playoff $$$ that he lost a lot of cash on the team..

sandysensfan


Veteran
Veteran
Hoags wrote:
NEELY wrote:
Either way, the Sens will be better off with a new owner.  Canadian Tire will eventually buy the Sens IMO.
He'd have the sell the team first and if he can still make money from the team, which he needs to pay off his loans he has no reason to sell.

There were quite a few interested parties last time, so if the team were for sale I imagine there'd be a good amount of interest.
Especially if they go on a deep playoff run this season... hopefully right to the very end.. wiping out Detroit on their way.. and beating the snot out of the Leafs.. Wouldn't that be a dream playoff run..

Hoags

avatar
All-Star
All-Star
sandysensfan wrote:
I'm sure spending to the cap like he did for several years and the team not playing more than 2 or 3 playoff rounds hurt the finances... but the last few years.. I can't believe with the low payroll and the playoff $$$ that he lost a lot of cash on the team..
He flat out said the team was making money without making the playoffs.

It's how this team will compete if the cap rises drastically, that's the big question.

NEELY


Mod
Mod
Either way, Melnyk is a sociopath and doesn't know whether he is telling the truth or lying as his reality changes day to day. His wife might be able to buy the team though!

spader

avatar
All-Star
All-Star
NEELY wrote:Jesus people, why do you keep talking about Melnyk and him losing money on the Sens.  The OTTAWA SENATORS and CTC do no lose money, they turn a profit almost every year.  Now, how Melnyk and his creative accounts want to recognize revenue's and expenses is totally up to them.  

How much money does Melnyk make off the capital tickets fees for Sens games?  You can play with the numbers, record revenues in other places, expenses under the Sens and boom, you have a big loss each year.  He could easily be making the 10 mil he claimed he lost last year if he reports it a certain way.  

People still fail to acknowledge that Melnyk's other business' are hurting, he can't develop his land, and he's using the Sens as a whole for leverage against the city.  Alfie leaving town was a shot across the bow, Melnyk flexing his muscle to put people in a panic and clearly it worked.  The guy may refuse to spend money out of spite, we'll see but the Sens are in no trouble financially... again, THE OTTAWA SENATORS MAKE MONEY.
May I ask what got you riled up enough to post this? I don't think there's a single mention of Melnyk on (at least on this page of) this thread. There are people talking about the cap above here, then your rant about how no one should be discussing Melnyk. You get very shouty, but I can't understand what you're responding to.

Odd.

tim1_2

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Franchise Player
Neely's clearly not over the whole Alfie thing. He hasn't moved on like the rest of us.

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