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The Declining Canadian Loonie

from Rick Westhead of TSN,

Escrow is already a dirty word for those who earn a living playing in the National Hockey League. 

It’s about to get dirtier.

Word is spreading among NHL player agents and team executives that escrow – the amount of money taken off a player’s paycheque and held back in case NHL revenues are lower than expected — will likely be increased within the next few weeks.

Stew Gavin, a former NHL player who now acts as a Toronto-based financial adviser for professional athletes, said he wouldn’t be surprised if escrow is readjusted to 20 per cent from its current 16 per cent.

“Companies in Western Canada are laying off and industries are slowing down. People are not buying,” Gavin said. “There are some tough headwinds. Who knows if companies will keep supporting teams by renting luxury suites and buying tickets? There have been some steep declines in a relatively short time. Blame oil prices. There’s an oversupply and the price of oil hasn’t hit bottom.”

continued

Filed in: NHL Teams, NHL Talk, NHL Business of Hockey, | KK Hockey | Permalink
 

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If the players don’t like it, they can go play in Russia.  My heart bleeds for them…...

Posted by wingsrul91 on 01/13/16 at 02:13 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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