Kukla's Korner Hockey
by Paul on 12/10/08 at 06:37 PM ET
via Ted Leonsis at Ted’s Take,
...we have grown our payroll and related expenses faster than we have grown our revenues so we will LOSE more money this season than we did last season. And that loss will be way more than $5 million for the year.
But there is good news. We can’t grow our payroll anymore. We are at the cap max basically so any additional revenue growth cuts into the losses. The business model is not fixed but it has improved dramatically with the new CBA for us in DC. Thanks to our fans but we have miles to go before we sleep. I would be celebrating if we lost $5 million this year on our hockey team. That would mean we would have won a Stanley Cup in four 7 game series. Even then, I bet our loss would be more than $5 million.
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