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Pens Expect To Lose $7 Million

from the AP via Sports Illustrated,
The Pittsburgh Penguins expect to lose at least $7 million this season despite a more favorable NHL labor agreement, player salary concessions and a big jump in ticket sales created by adding rookie Sidney Crosby. Owner-player Mario Lemieux said Tuesday his ownership group decided to increase the payroll by about $9 million, from $22 million in 2003-04 to about $31 million, in an accelerated effort to contend for the Stanley Cup immediately. "We've been rebuilding for three years, it's time to put a great team on ice and, to do that, we're willing to lose and we're going to lose more money next year," Lemieux said. "We're prepared to do this to have a chance to win. We feel this is a great opportunity for us."


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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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