Kukla's Korner Hockey
by Paul on 07/06/13 at 10:23 AM ET
from Sean Fitz-Gerald of the National Post,
A lower Canadian dollar has the potential to slow revenue growth in the National Hockey League, which would impact the salary cap. Small-market teams in Canada would face a host of familiar economic problems, with revenue earned in Canadian funds, and players being paid in U.S. currency.
“The Canadian currency conversion always has a direct impact,” established NHL player agent Anton Thun said on Thursday.
On Tuesday, the Canadian dollar closed at 94.80 cents U.S., its lowest level since October, 2011. In May, TD Bank released a report predicting the loonie would drop to 90 cents U.S. by the end of the year.
“It will have a huge impact,” Thun said. “At the end of the day, I would guess — and I’m just guessing — that the Canadian revenues probably total at least a third, if not 40% of the revenues in the NHL.”
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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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