I have a business degree, I know how it works.

The fact is, if he was doing illegal things, he's get punished for it. As well, he was on the list of Canadian Billionaires, when he purchased the Sens. So yes they have added to his success, but are certainly not his only accomplishment.

and yes I know increased value doesn't mean increased profit. However that was my point in the first place. if his main asset in the team is losing money. You'd think that any business man would say "I should get out of this while I can still earn a profit on the sale".

When a business is "going under", there are two courses of action
#1. Try to fix it
#2. Try to make profit from a sale

I'm still one of those people who thinks the sale of the team is possible and even more so possibly in the works. But I don't think it's just a money thing. I think Melnyk has worn out his welcome in Ottawa and is starting to figure out that fans aren't going to support a team as long as he is the owner.

If fact, I was thinking about this the other day. If the #Melnykout wants to hit him where it hurts. They should call for a boycott of the businesses that sponsor the Sens. If sponsors start pulling out, you can take it to the bank that Melnyk will be gone very quickly.

However, to say he's going bankrupt is absurd. I could see him losing enough to go from a Billionaire to a Millionaire. But he is certainly not going to be homeless anytime soon.

I think as fans, the only thing we can do, is try to somehow build for the future of this team. That's the only way to focus.
- Maverick1818

i agree that he's worn out his welcome, but the reason the team is where it is, is 100% money.

is he a billionaire in terms of net worth, maybe....but at the end of the day it's irrelevant. he still can't afford the team as is probably closer to bankruptcy than you think.

if you look at it in terms of a "regular person".....

technically, i'm a millionaire. my net worth is over a million dollars, because i have:

a house, a car, investments, life insurance, death benefits, a pension, etc.

all those assets mean that, technically, i'm a millionaire. i also have a job that pays me 100k per year, which means that i also have the liquid assets to support my capital assets...but it's my capital assets that make me a millionaire.

now if tomorrow i lost my job, i'm still a millionaire. i still have all those assets, and my net worth may even stay the same or increase depending on my house value...but i no longer have the necessary liquid assets to support the capital ones. i can probably survive for a little bit, either by cashing out my investments (which would end up costing me come tax season), or i could live off a line of credit for a while, which i would pay interest off of......but at the end of the day, i'm going to have to file for bankruptcy, even though i'm still technically a millionaire, because i don't have the liquid assets to continue to pay for or support my capital assets.

that's EXACTLY the case with Melnyk. His capital assets might make him a billionaire (i highly doubt it, but at the end of the day it's irrelevant).....but the expenses he incurs owning those capital assets (including operating expenses, and huge amounts of interest paid on refinancing) is FAAARRRRRR greater than what he takes in, in profit. so at the end of the day, he's probably technically worth hundreds of millions, but he has almost zero liquidity. that means, at some point, he's going to have to do one of 2 things:

1. he's going to have to sell the team, pay off his massive debts, and live off what he has left.......and he will be worth nowhere close to a billion

2. he files for bankruptcy, or the sens do as a corporation, and he lets the courts figure out what to do with those assets....definitely the less favourable option as far as he's concerned.

so at some point, likely in the relatively near future, he's going to have to make that choice.......unless a miracle happens, it's almost a financial certainty

I can troll you some more if you would like?
- Feds91Stammer

i'm sure once these trades happen, one of us will be trolling the other......let's keep the peace til then.

i'm sure once these trades happen, one of us will be trolling the other......let's keep the peace til then.
- sensarmy_11

I'm just killing time at work. My biggest concern at this point is Holland not trading away DETs rentals.

I'm just killing time at work. My biggest concern at this point is Holland not trading away DETs rentals.
- Feds91Stammer

my biggest fear is that dorion gets so pre-occupied with stone and duchene (rightfully so) that he forgets to trade dzingel and, i can pray, cody ceci

Not sure if it’s been mentioned, but Melnyk is trying to treat the Sens as an entity to make him money. It’s speculated that it’s the only thing making him money, if at all. Most pro sport owners’ own teams for the fun of it and aren’t necessarily worried about the bottom line. Eugene cuts freakin’ janitorial staff to cut costs, doesn’t offer Lyden Slewege a contract to sing the anthem and have peeps do it for free (most are terrible), and apparently rents the score clock/big screen rather than just buying it.

As a fan, I want to contribute to a wining team in the Ottawa community not help Eugene get out of debt of his other failed ventures.

The rebuild DOES have to be as long as people think (3 seasons of missing the playoffs). No way I want this team to make the playoffs next 2 years and miss out on the top prospects. Even a 9th overall may get you a Brian Lee or Jared Cowen. This isn’t about being a playoff team in 3 years but a serious contender in 5 years.

As for stone, I love the guy but if he’s Turin down AAV above 10m then trade the guy for the best possible package (which should be ET, Nsh 1st, and a 2nd/3rd like forward)

As for Duchene, we should look at what’s out there and if there’s not a really good return then the team should resign him 66-68 max

How do people define competitive? I think that's really important in all of these discussions.

Competitive to me, is making the playoffs, or at least fighting for a spot, year after year.

I take it that some people take the word to mean "Cup Contenders".

I truly believe that if you re-sign Stone, and address the obvious glaring holes in the defense- this team is competing for a playoff spot over the next few years.

And when the young talent they currently have develops into their early-mid twenties- we could have a Cup Contender.
- Jordo

To me being competitive if being a legitimate playoff team. That’s the first step towards being a contender. Unfortunately, the way the playoff format is, being a playoff team is not overly tricky unless you have multiple contenders in your in your division.

I agree it isn’t too hard (couple of years assuming some good moves happen) to get back to the playoff picture if Stone alone is resigns, but that is what this team has been doing for the last 10 years. Just making the playoffs, hoping for the best, and then doing nothing to make the roster into a contender, losing a piece or two, falling back, and starting the whole process again.

I can't find the evidence that suggests he would be better than Batherson, Brown, Formenton or even Balcer.

Balcer put up much better AHL numbers. He clearly has the potential to be a top 6 skater. He has been jerked around since being called up but still has 3 goals and 3 assists with limited ice time. Surprised to see Tierney on pace for 50+ point season.
- spatso

He had 19 goals and 36 points in 49 games in the KHL, as an 18 year old.

Melnyk is a wealthy man, You can google his net worth, it comes up as $1.21 Billion.

Now, likely most of that would be tied up and not liquid, but I certainly don't buy the argument of "he's going bankrupt". I'd say he's more just cheap.

wiki has his list of Business ventures as...

Ottawa Senators (NHL Team)
Belleville Senators
Canadian Tire Centre (Multi-purpose Arena and home of the Ottawa Senators)
Trimel Pharmaceuticals Corporation
Biovail Corporation (retired), formerly known as Trimel Pharmaceuticals (same name as Melnyk's new pharmaceutical company)
Bert's Bar (Barbados)
Bert's Bar (Ottawa)
Providence Charitable Trust
Providence Elementary and Secondary schools
Winding Oaks Farm (Florida, USA)
Mississauga St. Michael's Majors (sold) (OHL Hockey Club)
Mississauga Ice Dogs (sold) (OHL Hockey Club)
Fusion Brands Inc. (Cosmetics & Fragrances)
Olivann (Fragrance)
PurGenesis Technologies Inc.
Barbados real estate


Those other business should be able to sustain an income above and beyond what the Sens lose per year. I think it's more just the businesses that he is involved with are asset heavy, so most of that cash isn't liquid.

But beyond that, just the simple fact of, if the team is winning, and we have players that fans want to rally round (Stone, Duchene, Chabot, etc) that fans will show up, tickets will be purchased and merchandise will be bought. It's honestly that simple.

Not to mention the fact that he bought the Sens and the rink for half of what they are worth now.
- Maverick1818

He doesn’t own or operate any of those businesses, outside of OTT and BEL. He sold his stables, his minor league teams, he was kicked out of his own company. He isn’t involved in pharmaceuticals at all anymore.