Senators placed on NHL watch list - the story continues

Ev wrote:Well look at the Devils. They made the Final even with their issues. They lost Parise but that wasn't abut money. They were able to sign Kovalchuk to huge dollars, and they signed like 4-5 free agents.

Devils lose money every year, Sens are basically a break even venture that a lot of people would love to have as a toy and if a big corp comes in like CT and buys them, it's free advertising. Either way, you're right, you don't need to spend stupid dollars to be competitive each year and right now the Sens don't need to.

New Jersey currently has a payroll $6M higher than us.

NEELY wrote:
Anyways, you seem to enjoy being upset so I will let you enjoy your day.

Thank you, that's all I ask.

tim1_2 wrote:New Jersey currently has a payroll $6M higher than us.  

And they lose like a billion every year, lol.

SpezDispenser wrote:

wprager wrote:

SpezDispenser wrote:I want ownership to change.  We'd have Alfie and Ryan right now if he'd Diddle off and sell.

I don't want Alfie if he doesn't want to be here.  Screw him and his "probably not" and his ridiculous long hair and 'roid-induced acne.  

Plus I hear Hugo is a little $4it, too.

I agree to an extent.  But he wanted to be here, he wanted to be paid handsomely too though.

If he wanted to be here he would be.

Devils lose money every year because of debt. They probably make similar money to the Sens, if you look at sellout info and ticket prices. They now have a new owner and most of the debt is resolved.

The Sens problem is debt as well. But our team is still in debt from the original purchase and more and our owner is broke.

I wish we were the Devils.

Hoags wrote:Devils lose money every year because of debt.  They probably make similar money to the Sens, if you look at sellout info and ticket prices.  They now have a new owner and most of the debt is resolved.

The Sens problem is debt as well.  But our team is still in debt from the original purchase and more and our owner is broke.

I wish we were the Devils.

There is a lot wrong with this post.

Hoags wrote:Devils lose money every year because of debt.  They probably make similar money to the Sens, if you look at sellout info and ticket prices.  They now have a new owner and most of the debt is resolved.

The Sens problem is debt as well.  But our team is still in debt from the original purchase and more and our owner is broke.

I wish we were the Devils.

 

They have a new owner.

Melnyk isn't far off from "Boots" Del Baggio and John Spano.

tim1_2 wrote:New Jersey currently has a payroll $6M higher than us.  

You say that like it's a good thing. Who have they got? What great moves did they do in the off-season? They got Ryan Clowe who's gone from 24 goals to 17 to 3 (and still with 5 years at close to $5M left); they got Jagr who is clearly just whoring himself out for cash. The only decent move was Schneider and that could still backfire on them pretty badly.

Unless Schneider stands on his head (and there is no guarantee he'll even get 40 starts) I don't think they'll make the playoffs.

Sens are the youngest team in the league -- I really don't understand why anyone would expect them to be anywhere but near the bottom of the league in payroll.

James Bagnall's article on how the Sens have lost $94M since The Euge took over:

http://www.ottawacitizen.com/Under+Eugene+Melnyk+Senators+have+lost+million/8799118/story.html

wprager wrote:James Bagnall's article on how the Sens have lost $94M since The Euge took over:

http://www.ottawacitizen.com/Under+Eugene+Melnyk+Senators+have+lost+million/8799118/story.html

OK, just finished reading it.

Although Bagnall wrote it, it reads like a PR piece paid for by Melnyk. Puts him in a very favorable light. Poor, poor Eugene, spending millions of his own money ($9-10M per year) to keep the wheels turning.

Thing is, he had initially financed half of the cost of the team as debt -- the team cost him $175M, so half of that is $87.5M. Now the team is worth $300M and nearly half of that is debt. That means that in teh 10 years he's owned the team, he has not repaid a penny of that debt and, in fact, has nearly doubled the debt!

Back when he bought the team he was sitting on $1.5B in Biovali stock. 10% of his holdings would have nearly paid for it outright. Instead, he took out a loan, the stock tanked, he sold it for $600M (and it would be over $1.5B by now if he had held on).

Anyhow, the "nuke" article is coming tomorrow; looks like this one was put out to soften whatever blow is coming.

So buckle up.

wprager wrote:

wprager wrote:James Bagnall's article on how the Sens have lost $94M since The Euge took over:

http://www.ottawacitizen.com/Under+Eugene+Melnyk+Senators+have+lost+million/8799118/story.html

OK, just finished reading it.

Although Bagnall wrote it, it reads like a PR piece paid for by Melnyk.  Puts him in a very favorable light.  Poor, poor Eugene, spending millions of his own money ($9-10M per year) to keep the wheels turning.

Thing is, he had initially financed half of the cost of the team as debt -- the team cost him $175M, so half of that is $87.5M.  Now the team is worth $300M and nearly half of that is debt.  That means that in teh 10 years he's owned the team, he has not repaid a penny of that debt and, in fact, has nearly doubled the debt!

Back when he bought the team he was sitting on $1.5B in Biovali stock.  10% of his holdings would have nearly paid for it outright.  Instead, he took out a loan, the stock tanked, he sold it for $600M (and it would be over $1.5B by now if he had held on).

Anyhow, the "nuke" article is coming tomorrow; looks like this one was put out to soften  whatever blow is coming.

So buckle up.

Naw dude that's the nuke. It is online now but will be in the paper tomorrow

In that case I'm highly disappointed.  This article throws a couple of lob balls at Melnyk (if he had bought it outright instead of financing half ...) but overall it paints Uncle Euge as the poor guy who is struggling to keep ticket prices down while keeping the team afloat, selling off assets to cover the team's losses (nevermind that the team has losses only because of the financial shenanigans -- or finanegans -- used to purchase it in the first place).

Sounds like a PR piece and probably has to do with the second casino.

Man it is really boring in Ottawa in August 

LeKing wrote:Man it is really boring in Ottawa in August 

You sound like my kids. "I'm bored." 400+ cable channels, Netflix, PS3, Wii/Gamecube, tablets, iPods, friends, parks, bikes, Facebook. I had nothing.

http://www.ottawasun.com/2013/08/16/ottawa-senators-owner-eugene-melnyk-criticizes-jp-barry-for-agents-role-in-daniel-alfredsson-contract-negotiations

The story was vehemently refuted by Melnyk.

"No chance," he said in an e-mail to the Sun. "It's all B.S. coming from a random useless blogger. All this stuff is nonsense. Kinda annoying as well ... doing just fine thank you very much!"

Daly chimes in as well:

NHL deputy commissioner Bill Daly also said the story didn't hold water Friday night.

"Yes, it's all B.S.," Daly said in an e-mail to the Sun. "There is no 'watch list.' And there is no concern (about the Senators). And you can quote me."

Of course this could just be circling the wagons.

Love it. Diddle Travis.