Still pretty lame that they're taking it down though. Why cant the Blackhawks make money, despite winning two cups in four years?
- BlazinMike

Huet, Monty, Olesz for starters. That has to be $15-20MM in the furnace right there. Lots of front office bureaucrats to pay as well.

But a fair portion of the Hawks "losing money", finds its way into the "making money" sides of the Wirtz empire.

All accounting games. As long as the family spends on the team, I don't really care what they claim the balance sheets say.

Still pretty lame that they're taking it down though. Why cant the Blackhawks make money, despite winning two cups in four years?
- BlazinMike

Really good accountants, I would imagine. They find ways to hide profit. I don't know if it's still the case, but the Blackhawks pay rent to have offices, locker rooms and facilities at the United Center even though the Wirtz family also owns the stadium.

Huet, Monty, Olesz for starters. That has to be $15-20MM in the furnace right there. Lots of front office bureaucrats to pay as well.

But a fair portion of the Hawks "losing money", finds its way into the "making money" sides of the Wirtz empire.

All accounting games. As long as the family spends on the team, I don't really care what they claim the balance sheets say.
- Return of the Roar

Makes sense i guess. I just remember hearing after the first cup that they STILL lost money and after this cup I heard the same thing. Monty and Olesz werent there for the first cup, Huet was but i have a hard time believing the Maple Leafs dont have a player or two they still are paying salary too even though not on the roster and they're the like the 2nd or 3rd most profitable organization in sports.

Really good accountants, I would imagine. They find ways to hide profit. I don't know if it's still the case, but the Blackhawks pay rent to have offices, locker rooms and facilities at the United Center even though the Wirtz family also owns the stadium.
- Lash8

Exactly. There are losses on paper and then there are cash flow losses. it's easy enough to show your business losing money on paper, but I bet the Blackhawks have a positive cash flow each year.

They were only there for a few years. It's not like they're removing the organ or the goal horn.
- Lash8

Agree with you, nobody ever called the UC the Madhouse on Madison until they put the sign up. I never cared for it to begin with. It's just marketing. Were the letters BIG enough? Geez.

Exactly. There are losses on paper and then there are cash flow losses. it's easy enough to show your business losing money on paper, but I bet the Blackhawks have a positive cash flow each year.
- DarthKane

Ill be the first to admit that I'm no good with finances or business and so on...but i dont really understand why they would want to show losses instead of profit? The whole point is to win championships in order to make more money so since they are at the top twice in four years and if like you guys say they are "Hiding" profits...whats the point? Im assuming its supposed to make people feel more obligated to support the cause but i dont know if thats right.

Seems like if they were making money they would want people to know. I just dont see the point in hiding it, and i dont really think they're hiding anything, i think they actually are losing money. But again, i dont know anything really about business or financing.

Ill be the first to admit that I'm no good with finances or business and so on...but i dont really understand why they would want to show losses instead of profit? The whole point is to win championships in order to make more money so since they are at the top twice in four years and if like you guys say they are "Hiding" profits...whats the point? Im assuming its supposed to make people feel more obligated to support the cause but i dont know if thats right.

Seems like if they were making money they would want people to know. I just dont see the point in hiding it, and i dont really think they're hiding anything, i think they actually are losing money. But again, i dont know anything really about business or financing.
- BlazinMike

Forbes: Although team owner Rocky Wirtz says the Blackhawks are losing money, it is only because his math omits revenue from United Center Joint Venture, which operates the arena Wirtz co-owns with the NBA’s Chicago Bulls. (I wrote eight years ago about how a report on league finances compiled by former Securities & Exchange Commission Chairman Arthur Levitt Jr. excluded suite revenue from the United Center in the hockey team’s revenue).

This explains why the Blackhawks have among the lowest general ticket prices of any big-market NHL team, have among the priciest suites (about $200,000 per year, on average) and have among the highest prices for concessions and parking. Blackhawk fans can be expected to pay more next season...

http://www.forbes.com/sit...0-million-to-teams-value/

Ill be the first to admit that I'm no good with finances or business and so on...but i dont really understand why they would want to show losses instead of profit? The whole point is to win championships in order to make more money so since they are at the top twice in four years and if like you guys say they are "Hiding" profits...whats the point? Im assuming its supposed to make people feel more obligated to support the cause but i dont know if thats right.

Seems like if they were making money they would want people to know. I just dont see the point in hiding it, and i dont really think they're hiding anything, i think they actually are losing money. But again, i dont know anything really about business or financing.
- BlazinMike

Because if they hide revenues by having a below-market lease at the United Center (half-owned by the Wirtz family) and below-market TV rights from Comcast (also partially owned by the Wirts family), these revenues are not included in HRR that must be split with the players.

Also, if the Blackhawks can show presumed losses from hockey operations, it helps the league in negotiations with the union (see, even Chicago, a major hockey hotbed, is losing money) and, should it come to that, with the city of Chicago.

Plus there are tax considerations that are too complicated for most of us (including, certainly, me) to understand.

Be assured that between the Blackhawks, the UC, Comcast, and probably other ventures, the Wirtz family is making substantial profits on the team.

Because if they hide revenues by having a below-market lease at the United Center (half-owned by the Wirtz family) and below-market TV rights from Comcast (also partially owned by the Wirts family), these revenues are not included in HRR that must be split with the players.

Also, if the Blackhawks can show presumed losses from hockey operations, it helps the league in negotiations with the union (see, even Chicago, a major hockey hotbed, is losing money) and, should it come to that, with the city of Chicago.

Plus there are tax considerations that are too complicated for most of us (including, certainly, me) to understand.

Be assured that between the Blackhawks, the UC, Comcast, and probably other ventures, the Wirtz family is making substantial profits on the team.
- StLBravesFan

Indeed. That why most of us here are calling Male Bovine Manure on the claims that the Hawks are losing money.

I always thought you liked that sort of thing.
- EKolb13

funny guy this Eli....

funny guy this Eli....
- UnnamedSource

I sure am, and you love it too.

They do say! I don't know about you, but I would rather see the Wirtz family increase their cash flow so that the Hawks are in the black both in the real world and on paper. If they had a online charity to help the Hawks get back to being the cash cow for the current generation of Wirtzs that it was for grandpa Arthur, I know where my charity donation dollars would go.
- Beaver-Warrior

Anything to get him to stop crying poor i guess.....but God Bless Rocky !!!!

They were only there for a few years. It's not like they're removing the organ or the goal horn.
- Lash8

I know but that signage really IMO reinforced that the UC is OUR HOUSE

I know but that signage really IMO reinforced that the UC is OUR HOUSE
- philco28

I don't know if I agree. I feel like they put up the signage in order to turn the previously quiet United Center into the second coming of the Madhouse, since it was never as loud in the new stadium as in the old barn, but the on-ice product did more for the stadium regaining that moniker than some big red letters, IMO.

I know but that signage really IMO reinforced that the UC is OUR HOUSE
- philco28

I agree with this thought.

I don't know if I agree. I feel like they put up the signage in order to turn the previously quiet United Center into the second coming of the Madhouse, since it was never as loud in the new stadium as in the old barn, but the on-ice product did more for the stadium regaining that moniker than some big red letters, IMO.
- Lash8

Agreed.

I always thought that sign was lame, it alwys felt too forced, too contrived. I won't go so far as to say I'm glad it's gone, but I won't miss it.

I agree with this thought.
- EKolb13

Nothing would say "our house" more than raising a few more of these...

I don't know if I agree. I feel like they put up the signage in order to turn the previously quiet United Center into the second coming of the Madhouse, since it was never as loud in the new stadium as in the old barn, but the on-ice product did more for the stadium regaining that moniker than some big red letters, IMO.
- Lash8

Fair enough, but the acoustics at the UC made it far tougher to replicate the tumult at the Stadium. I just liked it. You didn't. No worries.

I agree with this thought.
- EKolb13

Nothing would say "our house" more than raising a few more of these...


- Ogilthorpe2

I am pretty sure we won't have to be having a "pass the hat" day any time soon for the Wirtz family.

Nothing would say "our house" more than raising a few more of these...


- Ogilthorpe2

Now that's an idea I can get behind!

Fair enough, but the acoustics at the UC made it far tougher to replicate the tumult at the Stadium. I just liked it. You didn't. No worries.
- philco28

Acoustics and a basement-dwelling team I liked the signage just fine, I just don't have any particular attachment to it.

WALKOM RETURNS TO JOB AS NHL SENIOR DIRECTOR OF OFFICIATING

http://www.tsn.ca/nhl/story/?id=429325

No more blown calls against us.

WALKOM RETURNS TO JOB AS NHL SENIOR DIRECTOR OF OFFICIATING

http://www.tsn.ca/nhl/story/?id=429325

No more blown calls against us.
- DarthKane

Upward failure for the win! Give him a desk job!