panthers lose over 20 mil annually. ask for public funds

[JATMtheJATM]

http://beta.thescore.com/nhl/news/403962

the big thing to me is they built the arena on the promise of returning any profits to the tax payers. they have not turned a profit. they are now asking for more money.

[trapezeus]

Re: panthers lose over 20 mil annually. ask for public funds

the beauty of failing big. "you can't give up on us now! You are never getting the $20MM back. if you support us a little more, we'll turn the corner....we promise," said russ brandon, king of needing more time.

[coastal]

Re: panthers lose over 20 mil annually. ask for public funds

Who needs expansion when u can just move that franchise?

[JATMtheJATM]

Re: panthers lose over 20 mil annually. ask for public funds

Who needs expansion when u can just move that franchise?

thats a point i was going to make, but i dont see that happening in the near future either. the NHL will try to make it work, like they forced with PHX.

at a certain point, you have to call a spade a spade, and relocate.

[Dude]

Re: panthers lose over 20 mil annually. ask for public funds

Hockey hasn't turned a profit but the arena has. Both are owned by the same company.

[Downinfloflo]

Re: panthers lose over 20 mil annually. ask for public funds

The Sabres lost money last year too, And they will lose money again this year..

Revenue 2012-13: $76 mil.
Operating loss 2012-13: $1.0 mil.
The Sabres increased non-premium seat prices by 26% and instituted a 4% price hike before the 2013-14 season, but the team is still in the bottom half of the NHL in average ticket price.

[JATMtheJATM]

Re: panthers lose over 20 mil annually. ask for public funds

The Sabres lost money last year too, And they will lose money again this year..

they didnt lose over 20 million. and they arent asking for tax payers to foot the difference.

[JATMtheJATM]

Re: panthers lose over 20 mil annually. ask for public funds

Hockey hasn't turned a profit but the arena has. Both are owned by the same company.

PHX or florida?

if a team loses money, so be it. lots of NHL teams lose money. its asking for public assistance thats the issue.

[Dude]

Re: panthers lose over 20 mil annually. ask for public funds

http://deadspin.com/the-florida-panthers-want-70-million-in-taxpayer-money-1498613317

The owners of the Panthers, whose payroll sits around $50 million, the lowest in the NHL, claim they're hemorrhaging money. Don't believe it. The team itself doesn't draw, but the funny thing about the situation in Sunrise is that the team itself was never supposed to be the big profit. It's the arena.
The BB&T Center is run by Arena Operating Company, a division of the corporation that actually owns the Panthers. Since the arena was built with public money, AOC is forced to open its books. And audits consistently show that AOC turns a profit. Much of that comes from concerts, events, and sports other than hockey—running an arena is a true cash cow. But even when Panthers games are factored in, AOC is still in the black, to the tune of nearly $10 million a year dating back to 1998.

They're not losing money.

[JATMtheJATM]

Re: panthers lose over 20 mil annually. ask for public funds

http://deadspin.com/the-florida-pant...ney-1498613317
They're not losing money.

so why are they asking for public assistance? dont you think thats shady as hell?

[Downinfloflo]

Re: panthers lose over 20 mil annually. ask for public funds

they didnt lose over 20 million. and they arent asking for tax payers to foot the difference.

Any time your business is in the red, It's bad.

[JATMtheJATM]

Re: panthers lose over 20 mil annually. ask for public funds

Any time your business is in the red, It's bad.

usually, yes. but the sabres arent in trouble. they are in the red because they have some of the lowest ticket prices in the NHL and a capped season ticket amount. season tickets are sold out and have a waiting list. if they raised ticket prices to be average, they would make money.

but as pegula said when he bought the team, he didnt buy it to make money.

[Downinfloflo]

Re: panthers lose over 20 mil annually. ask for public funds

Ticket prices went up last year..Buffalo (Bills and Sabres) have no choice but to keep the ticket prices as low as they can, The region they play in dictates that.

[JATMtheJATM]

Re: panthers lose over 20 mil annually. ask for public funds

Ticket prices went up last year..Buffalo (Bills and Sabres) have no choice but to keep the ticket prices as low as they can, The region they play in dictates that.

if that were true, wouldnt detroit follow the same formula? detroit teams have some of the highest ticket prices in sports except the pistons, because no one gives a **** about the pistons.

[jdaltroy5]

Re: panthers lose over 20 mil annually. ask for public funds

The NHL needs contraction, not relocation.

I say get rid of Columbus, Tampa, St. Louis, Carolina, NY Islanders, Phoenix, Nashville, and Florida.

No one will miss them.