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Owner: Senators' losses higher than reported

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07:27 AM ET 10.17 | Off the ice, Ottawa owner Eugene Melnyk claims to be losing big on the Senators. [Melnyk] says the Ottawa Senators have lost $110 million since he took over the team 10 years ago. ... After subtracting further items such as interest on the team's debt and capital expenditures, they revealed Melnyk has had to absorb cumulative cash losses of $94 million, or an average of $9 million to $10 million a year. That, the Citizen reported, excluded the additional interest and fees related to the debt extensions. In an appearance on TSN 1200 radio in Ottawa the day before his team was set to hit the ice for its home opener, Melnyk insisted the total was actually much higher. He again insisted fans don't need to worry about the team moving, however.

Ottawa Citizen

Bobby Ryan, Icon Sports Bobby Ryan, Icon Sports
October 17, 2013  08:35 AM ET

Must've taken the interns all night digging through boxes to find this headline from three months ago!

Comment #2 has been removed
October 17, 2013  08:47 AM ET
QUOTE(#2):

Ha, the article is saying the arena is going to get rid of some boxes because they can't sell them. What a pathetic excuse of an organization in a pathetic excuse of a town.

Danny, is that any way to speak of your Capital? We Americans would never do that to Washington ( He,He)

October 17, 2013  09:22 AM ET
QUOTE(#2):

Ha, the article is saying the arena is going to get rid of some boxes because they can't sell them. What a pathetic excuse of an organization in a pathetic excuse of a town.

Move them to Markham.

October 17, 2013  09:28 AM ET

hey, I have an idea...put a decent team out there that people may want to come and see?

October 17, 2013  09:32 AM ET

Sounds like his way of saying he will be raising ticket prices, in a back door kinda way.

Comment #7 has been removed
Comment #8 has been removed
October 17, 2013  09:50 AM ET
QUOTE(#7):

Are you folks open for business again, or are ya still barring toddlers from the zoo?

I love watching the Congressmen that think they just accomplished something.

October 17, 2013  09:53 AM ET
QUOTE(#7):

Are you folks open for business again, or are ya still barring toddlers from the zoo?

we are open, despite the government

October 17, 2013  10:46 AM ET
QUOTE(#7):

Are you folks open for business again, or are ya still barring toddlers from the zoo?

Open. But there are budget cuts for animal food. So, we're feeding toddlers to the big cats.

October 17, 2013  11:03 AM ET
QUOTE(#9):

I love watching the Congressmen that think they just accomplished something.

yup on the last day, after canoodling for the previous 15.

October 17, 2013  11:17 AM ET
QUOTE(#5):

hey, I have an idea...put a decent team out there that people may want to come and see?

They have one already. That's a talented bunch there. I cannot imagine the losses if they sucked.

October 17, 2013  11:30 AM ET
QUOTE(#7):

Are you folks open for business again, or are ya still barring toddlers from the zoo?

It was better when we were shut down. At least we didn't borrow any money from the Chinese during that time.

October 17, 2013  11:33 AM ET
QUOTE(#5):

hey, I have an idea...put a decent team out there that people may want to come and see?

Nah. That's not it. They keep showing up in droves in Toronto, Winnipeg, Edmonton and Calgary. That's just an Ottawa thing.

October 17, 2013  11:36 AM ET
QUOTE(#14):

It was better when we were shut down. At least we didn't borrow any money from the Chinese during that time.

what were they going to do if we defaulted?

It would hurt them more than us. :)

October 17, 2013  11:51 AM ET
QUOTE(#16):

what were they going to do if we defaulted? It would hurt them more than us. :)

What would happen if we told the Chinese, "Ske-rew you! We ain't payin'!"? What would they do? Will they tell us, "Ok! We take our cheap crap and go home. We no sell more to you"?

October 17, 2013  12:12 PM ET
QUOTE(#17):

What would happen if we told the Chinese, "Ske-rew you! We ain't payin'!"? What would they do? Will they tell us, "Ok! We take our cheap crap and go home. We no sell more to you"?

We had a yen to do that

October 17, 2013  12:18 PM ET
QUOTE(#18):

We had a yen to do that

that just makes no cents

 
October 17, 2013  12:30 PM ET
QUOTE(#19):

that just makes no cents

Maybe they tell us, "OK, no more Yuan for you! From now on you can go to Juan!"

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