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Blackhawks Claim They Continue To Lose Money

from Kevin Paul Dupont of the Boston Globe,

Blackhawks owner Rocky Wirtz, in a TV interview with ChicagoBusiness.com, says the wildly successful Hawks, with more than 200 consecutive sellouts at the United Center, still aren’t making a profit. A lot of people don’t realize, Wirtz said, that the Blackhawks deal in 88-cent dollars, surrendering 12 percent of their revenues “off the top’’ to cover city and county taxes….

The Blackhawks remain in a state of perpetual renaissance after being run into the ground for years by Rocky’s dad, Bill, who operated the Hawks as an enigma wrapped in a riddle and taped in a moldy equipment bag stuffed in the belly of a steam-powered Zamboni.///


It is extremely difficult to believe that the Blackhawks still aren’t making a buck, and the timing of the junior Wirtz’s comments is highly suspect, given that the NHL’s collective bargaining agreement with its players is due to expire in five months.

When it comes time to break bread with the players (still waiting for the table to be set), it’s a good bet commissioner Gary Bettman will scroll through Wirtz’s financial lamentations. It’s an equal bet that Donald Fehr, the players’ hired gun, will chortle and guffaw, possibly in the same breath, an act in itself that might be more difficult than believing the Blackhawks can be considered a going concern. At least not yet.

more plus other NHL topics….

Filed in: NHL Teams, Chicago Blackhawks, | KK Hockey | Permalink
 

Comments

J.J. from Kansas's avatar

Open the books on the nature of the relationship between the Hawks and the parent company or shut up.

This is Hollywood accounting at its worst. The same kind of practices that movie studios use to “show” that films like ‘The Empire Strikes Back’ haven’t earned any money.

It’s disgusting how many people fell for it last year when the Hawks used it as an excuse to raise ticket prices (because apparently they didn’t think Hawks fans would accept “We just won the cup and now our tickets are in demand” as an acceptable answer, so they tried the “oh, it’s the market conditions and the league and the players and the taxes and the waaaaaaaaah!”)

You want to know how to tell if the Hawks are really losing money?  Put them up for sale and see how long it takes for somebody to make a bid.

Posted by J.J. from Kansas on 04/08/12 at 12:48 PM ET

UMFan's avatar

Wish the reporter had called out Rocky on how much the unrealized gain the organization has netted in franchise value over the past few years. Owners own teams for a lot of reasons. The year to year income isn’t one of them.

Posted by UMFan from Denver, Colorado on 04/08/12 at 06:02 PM ET

statelouis26's avatar

Doubt it.  With all the Hawks bandwagon I seriously doubt it.

Posted by statelouis26 from Detroit, MI on 04/09/12 at 01:49 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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