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Gary Bettman Says Less League Profit Due To Falling Loonie

from Eben Novy-Williams and Scarlet Fu of Bloomberg,

The National Hockey League may miss out on as much as $200 million this season because of the slide of the Canadian dollar, according to league commissioner Gary Bettman.

Bettman said in an interview on Bloomberg Television that while he still believes the NHL will set a revenue record this year, it will do so in spite of a Canadian dollar that fell to a 13-year-low in January.

“It’s a fact of life, it’s something we deal with,” Bettman said.

The Loonie has since rebounded, rising to 76 U.S. cents from 68 U.S. cents, but remains well below the 92-cent rate of two years ago. Bettman said the league, which is currently considering expanding to Las Vegas or Quebec City, assumes it will stabilize at about 80 U.S. cents.

The league will record an estimated $4 billion in revenue for the 2015 fiscal year, up about 8 percent from last year’s record $3.7 billion. About one-third of the NHL’s revenue comes from Canada -- either from ticket sales for the seven teams North of the border, its $5.2 billion television deal with Rogers Communications Inc. (which pays in Loonies) or from Canadian sponsorships. For a league that conducts all its business in U.S. dollars, a weak Canadian dollar means less profit.

continued

Filed in: NHL Talk, | KK Hockey | Permalink
  Tags: gary+bettman

Comments

WingedRider's avatar

OK Gary the Tool.  Less Profit does not mean the NHL is losing money.  Less Profit down the Road when Vegas (LOL) Goes Arizona/Phoenix and the NHL will own another team.

Put UGLY advertising on NHL Jerseys , etc   Big bucks, IF the fans buy that crap

Posted by WingedRider from Saskatoon, SK on 05/25/16 at 03:44 PM ET

Avatar

Less Profit does not mean the NHL is losing money.

Where did he say that the NHL is losing money?

Posted by Garth on 05/25/16 at 04:02 PM ET

WingedRider's avatar

I didn’t say he said he was losing money. He ignored to mention the NHL is still making money.

This is the reason I have your comments ignored,

Posted by WingedRider from Saskatoon, SK on 05/25/16 at 04:09 PM ET

ilovehomers's avatar

Why does everyone think that jersey advertisements will be on the commercial jerseys that we buy?

Posted by ilovehomers on 05/25/16 at 04:17 PM ET

TreKronor's avatar

Sucks for the UFA’s the past couple years.

Posted by TreKronor on 05/25/16 at 04:27 PM ET

Down River Dan's avatar

Is Gary’s salary tied to league revenue?

Maybe he should be paid in Loonies?

Maybe Lil gary & Lil Bill should have some of their salary held in escrow…...you know….like the players????

What did the Lil guy say after the 04 LOCKOUT ( not players holdout!!)....”...we are partners…”  sick

Posted by Down River Dan on 05/25/16 at 07:54 PM ET

Avatar

I didn’t say he said he was losing money. He ignored to mention the NHL is still making money.

Yeah, he sure did ignnre it.  Like, completely.

“Bettman said in an interview on Bloomberg Television that while he still believes the NHL will set a revenue record this year”.

Oh.

Posted by Garth on 05/26/16 at 09:02 AM ET

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