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Flyers Have Money To Spend

from Frank Seravalli of the Philadelphia Daily News,

As it stands now, with negotiations in the works for Ville Leino and restricted free agents Wayne Simmonds and Jakub Voracek, the Flyers have approximately $8.3 million in salary-cap space, with Michael Leighton stashed in the AHL.

That’s enough to do some serious damage on the free-agent market. Or, if you’re reading the tea leaves along with me, maybe even the restricted free-agent market.

Two different team sources reiterated last night that the Flyers would be very interested in Tampa Bay’s Steven Stamkos if he remains on the market on Friday morning.

Reports indicated that the Lightning and Stamkos’ agents have had ongoing discussions, though that doesn’t say much, knowing that the sides have been talking for more than a month.

When you add to the equation that the Lightning - which was reported to have lost $20 million to $25 million last season - might have financial limitations, and the reports.

more

Filed in: NHL Teams, Philadelphia Flyers, Tampa Bay Lightning, | KK Hockey | Permalink
  Tags: steven+stamkos

Comments

cs6687's avatar

Call me crazy. But my sources aren’t.

No, the writer is crazy. The Flyers would have to dump another contract or two to afford Stamkos. The Flyers amuse me.

Posted by cs6687 on 06/28/11 at 11:40 AM ET

Hank1974's avatar

The Lightning did not lose $20-25M last year.
They made a crap-tonne of money in the playoffs.

Not only that, but their new owner is a hockey nut that is prepared to spend to build a winner.
Yzerman and Boucher would have never taken the job if they knew their hands would be tied.

If the Flyers offer Stamkos a contract, the Lightning will match. He’s not going anywhere.

Posted by Hank1974 on 06/28/11 at 12:45 PM ET

Russian Rocket's avatar

The Lightning did not lose $20-25M last year.

You’re right it was more like $30 MIllion. (Pre-tax that is)

http://www.kuklaskorner.com/index.php/hockey/comments/report-_lightning_will_still_lose_money/

However I still don’t see how they can afford to sign Leino, Simmonds, and Voracek with enough to offer Stamkos a contract he would be interested in without moving more established players.

Posted by Russian Rocket on 06/28/11 at 01:04 PM ET

Hank1974's avatar

You’re right it was more like $30 MIllion. (Pre-tax that is)

http://www.kuklaskorner.com/index.php/hockey/comments/report-_lightning_will_still_lose_money/

You have to understand what an owner sees as losses though.
Phil Esposito said when he owned the Lightning that their version of losses is a bit different than that of a normal business.
What a team does is count up how many tickets can be sold throughout the year, including parking and an estimated concession/souvenir grosse.
So if a team can fit 20K in a building for 41 games a year, at an average ticket price of $100 (including souvenirs and parking), that total would be $82M.
But if/when the team doesn’t sell out every game, or sell that much estimated souvenirs and parking and only takes in $70M, then they report a loss of $12M for the season.
The owner might have only needed a total of $50M to run the team, but he’ll still report a loss of $12M.

Don’t shoot the messenger. That’s only what Espo has said countless times on XM Home Ice.

So in that regard, Vinek might claim to have lost $30M this past season, but I’d love to see his books.
Mark Cuban said when he was looking to buy a sports team, these kinds of losses were all over the books for each team he was interested in.

Posted by Hank1974 on 06/28/11 at 01:40 PM ET

Russian Rocket's avatar

So in that regard, Vinek might claim to have lost $30M this past season, but I’d love to see his books.

Wouldn’t we all.  You’re right in that sense and in no way do I think they’re in any sort of financial trouble compared to Columbus and Phoenix. However, For the past 2-3 years they had been cutting payroll and working on a tighter budget, mainly because they weren’t very good.  They know that’s a decent enough market when the team is playing well.  Regardless of the losses these past few years they should be doing fine again within a short period of time with the injection of a new, wealthy owner, stable front office, and quality players.

Posted by Russian Rocket on 06/28/11 at 01:47 PM ET

Avatar

If you get a crack at a guy like Stamkos, you make room later.

Philly’s bigger problem is convincing him to sign their offer-sheet instead of someone else’s (I’d be surprised if there were less than 15, if he gets to RFA, and since this $7 million figure Yzerman’s throwing around seems at LEAST $1.5 million light, that very well could happen), considering what just happened with Carter and Richards.

I imagine even Dale Tallon could make a Hell of a pitch, starting with “here’s 5 years at CBA max. You don’t even have to move very far.”

Posted by steviesteve on 06/28/11 at 01:47 PM ET

Avatar

So in that regard, Vinek might claim to have lost $30M this past season, but I’d love to see his books.
Mark Cuban said when he was looking to buy a sports team, these kinds of losses were all over the books for each team he was interested in.

It’s tough to fabricate THAT much of a loss. You have to think about the disarray Tampa was in when the team was sold. Wouldn’t suprise me if those two knuckleheads were signing long-term sponsorship deals with, like, Ming’s Massages for free massages instead of signing deals with GoodYear for currency.

Posted by steviesteve on 06/28/11 at 01:52 PM ET

Avatar

I’d be surprised if there were less than 15

I’d be surprised if he has to choose between 5 offers.  If he signs an offer sheet at all.

Posted by Garth on 06/28/11 at 02:10 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.

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