Kukla's Korner

Kukla's Korner Hockey

Could Minnesota Lose Another Team?

As pointed out this morning on Twitter by Adrian Dater...

Reports are out that the Minnesota Wild have recorded a $30 Million loss this past season; according to Charley Walters of TwinCities.com out of St. Paul.

Is the State of Hockey at risk of losing their second National Hockey League Franchise?

It has been 20 years, nearly to the day, that the Minnesota North Stars packed up and moved to the sunbelt and became the Dallas Stars; and low attendance and lost revenue during seasons where the team did not play up to the standards of their fan base.

The NHL granted Minnesota the Wild in the 2000-01 Season (though announced back in 1997 that the team would be part of the expansion); and after finally making the playoffs this season after not qualifying for the past four seasons.

The lockout may be in part to blame for the $30 Million loss this past season.  If the season had started on time than there would have been more revenue generated – but also more money paid out to employees’ and game day crew.

Another hit to the books for the Wild would be the $10 Million bonuses’ for each Zach Parise and Ryan Suter.  The two big ticket UFA’s from last summer where each awarded a lockout proof bonus.

A short term financial fall has hit the State of Hockey: the questions that remain to be answered is if it is just a case of spending money to make money or if this hit is just the start of a financial mess with economic down times across the country? or may Minnesota lose another NHL franchise in the coming years?

Time can only reveal the answers to these questions.

Filed in: NHL Teams, Minnesota Wild, | KK Hockey | Permalink
 

Comments

LivinLaVidaLockout's avatar

What would have been the effect of playing on the checkbook for the Wild?  Is this a one-time abberation because of one-time costs like Parise/Suter signing bonuses added to decreased revenues?  Or is this a case of the organization realizing they can be financially irresponsible, as the city of Glendale showed them that a city can go to unreasonable lengths to keep a team that isn’t financially viable?

Posted by LivinLaVidaLockout on 07/29/13 at 12:14 PM ET

w2j2's avatar

Fans had better watch out:
When Leipold owned the Nashville team and lost money, he dismantled the team to save on salaries.
cool mad

Posted by w2j2 on 07/29/13 at 12:28 PM ET

Nathan's avatar

Regardless of how you feel about the general health of the economy across the U.S., it is pretty clear that the major sports leagues were not greatly impacted by the recession of 2007 - 2009, if at all, really. The increased league-wide revenues and player salaries show that.

Sure, league-wide numbers take the incredibly strong financial performances of teams like the Leafs and balance out many of the smaller, poorer performing clubs. But that’s just the point. I don’t think there’s a general trend harming the health of these franchises. The same pattern that existed prior to ‘04-‘05 still exists today.

Posted by Nathan from the scoresheet! on 07/29/13 at 12:33 PM ET

Vladimir16's avatar

I find it funny that a state that is known as the “hotbed of hockey” has a hard time keeping a lucrative NHL team there. What a feckin’ joke.

Posted by Vladimir16 from Grand River Valley on 07/29/13 at 12:45 PM ET

goon's avatar

The WIld are going no where.

Posted by goon from Grand Forks, ND on 07/29/13 at 12:51 PM ET

J.J. from Kansas's avatar

Is the State of Hockey at risk of losing their second National Hockey League Franchise?

Short answer: no.

Long answer: Nah.

Posted by J.J. from Kansas on 07/29/13 at 01:50 PM ET

Down River Dan's avatar

So the summer after signing two players to $90,000,000 contracts respectively, the team is losing money?

Go figure???

I smell another lockout coming.  sick

Posted by Down River Dan on 07/29/13 at 01:52 PM ET

WildAboutHockey's avatar

This is ridiculous.  Is anyone out there actually buying this rumor?  I’m not believing it for a second.  Sure, they lost a ton of money, but that doesn’t mean that the team is on the brink of a downward spiral.  I’m sure they will get some of their money back through ticket sales and other things.  The Wild aren’t going anywhere.  I’m not worried a single bit.  State of Hockey forever!

Posted by WildAboutHockey on 07/29/13 at 03:05 PM ET

Primis's avatar

Good News:  Dany Heatley’s $7.5M comes off the books.
Bad News:  It’s not this season but next, and he’s completely untradeable.

If they jettisoned Heatley, Suter, and Parise they’d cut like $22.5M.

Just sayin’.

Posted by Primis on 07/29/13 at 03:06 PM ET

SnLO's avatar

I don’t think much of this. The league only played half a season… does Leipolds 2nd team have the same problem after a full season? Guess it depends on the on-ice product whether it draws the crowd and sells.

Posted by SnLO from beyond the M-1 on 07/29/13 at 03:19 PM ET

cowboycoffee's avatar

if they don’t make the playoffs next season…

Posted by cowboycoffee from San Francisco, CA on 07/29/13 at 03:26 PM ET

awould's avatar

Somewhere in Hamilton, a pe*is began to erect.

Posted by awould on 07/29/13 at 04:24 PM ET

redxblack's avatar

Liepold was one of the biggest hardliners in the last lockout. He deserves this self-inflicted financial injury more than most.

Posted by redxblack from Akron Ohio on 07/29/13 at 06:48 PM ET

goon's avatar

First off, the rumor came from Shooter aka Charlie Walters who isn’t known for being that credible. Second, the part of the article quoted is now gone.

Posted by goon from Grand Forks, ND on 07/30/13 at 07:54 AM ET

Add a Comment

Please limit embedded image or media size to 575 pixels wide.

Add your own avatar by joining Kukla's Korner, or logging in and uploading one in your member control panel.

Captchas bug you? Join KK or log in and you won't have to bother.

Smileys

Notify me of follow-up comments?

Feed

Most Recent Blog Posts

About Kukla's Korner Hockey

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.

Email Paul anytime at pk@kuklaskorner.com