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Everywhere I turn right now I am hearing rumours that the current ownership is in trouble. The current ownership has been very aggressive and has made some moves many have questioned. When I started hearing last week some very disturbing rumours involving the team's financials I decided to make some calls to the team and to the league.
Here's what I am hearing, and here is the truth:
Rumour #1: The Lightning owners owe a lump sum payment to former Lightning owner Bill Davidson by January 2009 or Davidson will take over the team. I have heard anywhere from 5-10 million dollars and even heard from normally reliable sources that "It is a given that Oren and Len will lose the team."
The Truth: THIS IS 100% FALSE. According to the Lightning sources and team there is no lump sum. None whatsoever. There is no way the NHL in what is being referred to as the "post Boots" NHL would allow such a possibility to exist. The new ownership group is not in danger of losing the team to the old owners.
Rumour #2: The Lightning trade of Matt Carle was a desperate trade to clear cap space in order to make payroll.
The Truth: THIS IS 100% FALSE. The Lightning are doing fine financially and the NHL is very much on top of their every move. Again, following the Boots and Balsillie team ownership swaps the NHL has been incredibly watchful of the financials. All teams submit budgets to the NHL and the NHL checks them over. The Lightning bought the team for $206M and the NHL requires that only half of that can be financed. The Lighnting's monthly nut is well under 1 million as they have a standard 3 year interest-only loan for right around 100 Million.
Carle was moved because, for his salary, the Lightning felt he needed to show he could be a top 2 or even top 4 D. In their opinion he fell short. The Lightning also are really high on Steve Downie who they even tried to acquire at the deadline last year from the Flyers.
RUMOUR #3: The Lightning are bleeding money.
The Truth: THIS IS 100% FALSE. When teams travel to Europe to play in the early season they actually make out pretty well. For the Prague games the teams are guaranteed 110% of the revenues from their previous home opener. To date the Lightning have only played 6 games and revenues are standing steady from last year, while sponsorships are up 2 million already. Last night the Lightning had their largest single gate in team history versus the Detroit Red Wings. Tampa has seen a slight decrease in attendance but due to the team holding pricing (which means not negotiating ticket pricing) the gate revenues are steady. Also the Lightning have a legit 14,000 paid. Many teams, even big teams, often struggle to get over 10k paid.
It is pretty amazing how much false information is out there. There is a general want in the NHL media for teams from the southern states to fail. It always amazes me. I saw it in Nashville and I am seeing it in Tampa. If I can shed some light I will.
be back shortly with rumours.....
Here's what I am hearing, and here is the truth:
Rumour #1: The Lightning owners owe a lump sum payment to former Lightning owner Bill Davidson by January 2009 or Davidson will take over the team. I have heard anywhere from 5-10 million dollars and even heard from normally reliable sources that "It is a given that Oren and Len will lose the team."
The Truth: THIS IS 100% FALSE. According to the Lightning sources and team there is no lump sum. None whatsoever. There is no way the NHL in what is being referred to as the "post Boots" NHL would allow such a possibility to exist. The new ownership group is not in danger of losing the team to the old owners.
Rumour #2: The Lightning trade of Matt Carle was a desperate trade to clear cap space in order to make payroll.
The Truth: THIS IS 100% FALSE. The Lightning are doing fine financially and the NHL is very much on top of their every move. Again, following the Boots and Balsillie team ownership swaps the NHL has been incredibly watchful of the financials. All teams submit budgets to the NHL and the NHL checks them over. The Lightning bought the team for $206M and the NHL requires that only half of that can be financed. The Lighnting's monthly nut is well under 1 million as they have a standard 3 year interest-only loan for right around 100 Million.
Carle was moved because, for his salary, the Lightning felt he needed to show he could be a top 2 or even top 4 D. In their opinion he fell short. The Lightning also are really high on Steve Downie who they even tried to acquire at the deadline last year from the Flyers.
RUMOUR #3: The Lightning are bleeding money.
The Truth: THIS IS 100% FALSE. When teams travel to Europe to play in the early season they actually make out pretty well. For the Prague games the teams are guaranteed 110% of the revenues from their previous home opener. To date the Lightning have only played 6 games and revenues are standing steady from last year, while sponsorships are up 2 million already. Last night the Lightning had their largest single gate in team history versus the Detroit Red Wings. Tampa has seen a slight decrease in attendance but due to the team holding pricing (which means not negotiating ticket pricing) the gate revenues are steady. Also the Lightning have a legit 14,000 paid. Many teams, even big teams, often struggle to get over 10k paid.
It is pretty amazing how much false information is out there. There is a general want in the NHL media for teams from the southern states to fail. It always amazes me. I saw it in Nashville and I am seeing it in Tampa. If I can shed some light I will.
be back shortly with rumours.....
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