Truth & Rumors > NHL

Flyers owner pushing for labor solution?

Views
7844
Comments
25

11:09 AM ET 11.17 | Behind the scenes, there seems to be a seismic shift going on among the NHL's Board of Governors, also known as the group that Gary Bettman answers to collectively. And Flyers chairman Ed Snider may be the big mover-and-shaker behind it all. Multiple sources confirmed to the Daily News on Friday that Snider, once seen as a supporter of the Bettman's push to rein in the players' share of revenue, has soured on the process after it became apparent that a deal would not be brokered in time for a Dec. 1 puck drop. Put simply: Snider and the rest of the NHL's owners were promised a big win by Bettman, with player concessions on revenue division and contracting rights. The best they'll get now is a small win in revenue split - coupled with a demoralized fan base and all-important corporate sponsors that are ready to quit. A source familiar with Snider's thinking characterized it as: "If this is the deal we are going to get, what's the point of dragging this out?"

Philly.com

Ed Snider, Len Redkoles/Getty Images Ed Snider, Len Redkoles/Getty Images
November 17, 2012  11:30 AM ET

Fire the Butt-plug Eddy and the fans will forgive you.

November 17, 2012  11:34 AM ET
QUOTE(#1):

Fire the Butt-plug Eddy and the fans will forgive you.

And if you don't may this be the only song on your iPod.

November 17, 2012  12:44 PM ET

FIREBETTMANFIREBETTMANFIREBETTMANFIREBETTMANFIREBETTMANFIREBETTMANFIREBETT MAN!!!!!

November 17, 2012  12:45 PM ET
QUOTE(#3):

FIREBETTMANFIREBETTMANFIREBETTMANFIREBETTMANFIREBETTMANFIREBETTMANFIREBETT MAN!!!!!

I think I may have a typo in there somewhere!

November 17, 2012  01:10 PM ET
QUOTE(#3):

FIREBETTMANSCREWBETTMANFUCKBETTMANKILLBETTMANDROWNBETTMANARRESTBETTMANCONV ICTBETTMANPUTHIMINAJAILCELLWITHAGUYNAMEDTINYBETTMAN!!!!!

I don't see any typos

November 17, 2012  01:34 PM ET

Hey HANK, if you can get your butt on a plane I have an extra ticket for you to go see the fight tonight!

Comment #7 has been removed
Comment #8 has been removed
November 17, 2012  02:57 PM ET

Excerpt from Edmonton Jounal story

he Florida Panthers as an example. For many, the Panthers are a great case in point of what went wrong with the NHL???s expansion into the Sunbelt. Attendance has improved of late, but on a percentage basis still easily falls into the NHL???s bottom-third. The team has struggled for respectability on the ice, and off the ice the financial picture is generally seen as gloomy.

Last year, Forbes estimated that the Panthers lost $7 million. Over the last nine seasons, they calculate the Panthers total losses at $68 million, an average deficit of $7.5 million per season.

Interestingly, the picture that Forbes paints is at odds with that presented by Broward County. Broward County was primarily responsible for the construction of the Panthers??? arena, and as a result gets to look at the books of the organization. According to the county auditor, the organization made $117.4 million in profit between 1998 and 2012.

How does a team losing $7.5 million per season rack up profits in excess of $100 million? There are a few reasons, and to find them we need to dig a little.

The Panthers play in BB&T Center. The arena was built for $191 million and opened in 1998, it was financed through bonds issued by the County and repaid through a combination of tax and arena revenues. The County then inked a 30-year operating agreement with Panthers Hockey LLLP (now known as Sunrise Sports & Entertainment, or SSE).

As part of the agreement, SSE essentially controls the arena. They host 41 regular season home games (plus playoff games and any special/pre-season games), and between 70-100 other events in a calendar year. The county receives revenue sharing only if the Panthers organization hits a certain profit level, which was previously pegged at $12 million in a year.

The 2010 auditor???s report, which is available at the county website, shows a company that averaged $9.9 million per fiscal year between 1999 and 2008 (discounting the 2004-05 lockout year, for a moment). Those revenues dipped to just a hair over $1 million in 2005, the year of the NHL lockout. Interestingly, 2005 ??? due to the lockout ??? is the one year where Forbes doesn???t provide an estimate that shows the Panthers losing money, and it???s the lowest revenue-generating year the auditor records.

That???s either an incredibly interesting coincidence, or evidence that the Panthers themselves help make the arena as profitable as it is.

November 17, 2012  03:01 PM ET
QUOTE(#9):

Excerpt from Edmonton Jounal story
The Florida Panthers as an example. For many, the Panthers are a great case in point of what went wrong with the NHL's expansion into the Sunbelt. Attendance has improved of late, but on a percentage basis still easily falls into the NHL's bottom-third. The team has struggled for respectability on the ice, and off the ice the financial picture is generally seen as gloomy.Last year, Forbes estimated that the Panthers lost $7 million. Over the last nine seasons, they calculate the Panthers total losses at $68 million, an average deficit of $7.5 million per season.Interestingly, the picture that Forbes paints is at odds with that presented by Broward County. Broward County was primarily responsible for the construction of the Panthers' arena, and as a result gets to look at the books of the organization. According to the county auditor, the organization made $117.4 million in profit between 1998 and 2012.How does a team losing $7.5 million per season rack up profits in excess of $100 million? There are a few reasons, and to find them we need to dig a little.The Panthers play in BB&T Center. The arena was built for $191 million and opened in 1998, it was financed through bonds issued by the County and repaid through a combination of tax and arena revenues. The County then inked a 30-year operating agreement with Panthers Hockey LLLP (now known as Sunrise Sports & Entertainment, or SSE). As part of the agreement, SSE essentially controls the arena. They host 41 regular season home games (plus playoff games and any special/pre-season games), and between 70-100 other events in a calendar year. The county receives revenue sharing only if the Panthers organization hits a certain profit level, which was previously pegged at $12 million in a year.The 2010 auditor???s report, which is available at the county website, shows a company that averaged $9.9 million per fiscal year between 1999 and 2008 (discounting the 2004-05 lockout year, for a moment). Those revenues dipped to just a hair over $1 million in 2005, the year of the NHL lockout. Interestingly, 2005
'due to the lockout ' is the one year where Forbes doesn't provide an estimate that shows the Panthers losing money, and it's the lowest revenue-generating year the auditor records.That's either an incredibly interesting coincidence, or evidence that the Panthers themselves help make the arena as profitable as it is.

It's called cooking the books

November 17, 2012  03:09 PM ET

Comment #9
extremely interesting....thank you Swamp Dragon.

November 17, 2012  03:32 PM ET
QUOTE(#10):

It's called cooking the books

pretty much exactly what I have been yelling from the rooftops for a long, long time. The Heat also supposedly lost money last year. Give me a break, please.

If these clowns want to cry poverty then they should have to open up the books not only on their franchises but on all auxiliary company operating within the same sphere...

November 17, 2012  03:33 PM ET
QUOTE(#7):

GSP!!!!!!!!!!!!!

Not a big ufc fan, but reallllyyy excited to see it as an event. Ive been to a few boxing events at the Bell Centre and I have really enjoyed the experience, Im guessing that this will absolutely blow those out of the water.

Hope GSP rises to the occasion.

November 17, 2012  03:57 PM ET

I recently had the opportunity to meet Mr. Snider at my daughter's wedding reception. If anyone has the capacity to settle this grand impasse, the dynamic Mr. Snider is precisely that individual!

It is time for those of character, conviction, and courage to assume their destined role!

November 17, 2012  05:28 PM ET

A source familiar with Snider's thinking characterized it as: "If this is the deal we are going to get, what's the point of dragging this out?"


Exactly, Mr. Snider. The point of dragging this out can only be for Bettman's ego and to appease the vindictiveness of some of the other owners. When Snider gets this resolved, you can all thank us Flyer fans :))

November 17, 2012  05:29 PM ET

A quick resolution to this would come if sponsors spoke up and said they'd had enough. That would put the real fear of revenue loss in both sides.

November 17, 2012  05:31 PM ET
QUOTE(#2):

And if you don't may this be the only song on your iPod.

This is up there William Shatner's version of Mr. Tambourine Man :)

November 17, 2012  06:09 PM ET

only a matter of time before the heavy hitting owners put a stop to this nonsense. i think bettman just cut his own throat.

November 17, 2012  06:12 PM ET
QUOTE(#15):

A source familiar with Snider's thinking characterized it as: "If this is the deal we are going to get, what's the point of dragging this out?"Exactly, Mr. Snider. The point of dragging this out can only be for Bettman's ego and to appease the vindictiveness of some of the other owners. When Snider gets this resolved, you can all thank us Flyer fans :))

thanks anyway. this from a penguin fan. think snider will shake it up.

 
November 17, 2012  07:27 PM ET
QUOTE(#15):

A source familiar with Snider's thinking characterized it as: "If this is the deal we are going to get, what's the point of dragging this out?"Exactly, Mr. Snider. The point of dragging this out can only be for Bettman's ego and to appease the vindictiveness of some of the other owners. When Snider gets this resolved, you can all thank us Flyer fans :))

But who's going to play Jeff Saturday to Snider's Bob Kraft

Comment

Remember to keep your posts clean. Profanity will get filtered, and offensive comments will be removed.


Truth & Rumors

MOST POPULAR

  1. 1
    Clippers, Warriors exchange barbs
    Views
    706
    Comments
    431
  2. 2
    Time to penalize NHL's perennial losers?
    Views
    818
    Comments
    267
  3. 3
    Report: Raiders to release Terrelle Pryor on Monday
    Views
    1210
    Comments
    59
  4. 4
    Will NFL owners blackball Donald Trump?
    Views
    1007
    Comments
    54
  5. 5
    Packers lovers have own dating site
    Views
    934
    Comments
    43

SI.com

SI Photos