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Sharks Lose $5 Million

via the Contra Costa Times,
The NHL expects its new economic system will stop the financial bleeding for most of the 30 teams this season, but the Sharks said Monday they will finish in the red once again. Sharks CEO Greg Jamison said the franchise probably will lose $5 million, citing the loss of sponsorships, a decline in ticket revenue and an increase in the cost of doing business. To help offset that, the team told season-ticket holders over the weekend that prices are going up. "When you look at it, the league did very well and rebounded very strongly post-lockout," said Jamison, who does not disclose specifics of the team's financial operations. "There are still some areas we have to deal with, but we're closing the gap."

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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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