Report: San Jose Sharks Not Fazed by $15 Million Loss Last Season

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Report: San Jose Sharks Not Fazed by $15 Million Loss Last Season
Ezra Shaw/Getty Images

The San Jose Sharks sold out every game last season, but owner Kevin Compton told the San Jose Mercury News' David Pollak that the team lost $15 million in 2011-12.

Last season happened to be a marathon full of twists and turns for the team.  It consisted of disappointing stretches and injuries, and ended with a disappointing first-round playoff series against the St. Louis Blues.

As a result of another competitive season, Compton claims the team lost a good sum of money.

However, he said the team is not affected by the financial deficit.

“We’re OK with that because that’s a decision we’ve made to stay competitive,” said Compton, referring to the fact his team’s player payroll bumped up against the NHL salary cap.

Something does not add up here.

As mentioned, HP Pavilion consistently sells out with players like Joe Thornton, Patrick Marleau and Logan Couture on the ice, and the team has yet to gain a profit?

“We’re a completely liquid organization and so far have continued to fund operations by choice,” Compton said. “This isn’t Phoenix.”

A quick shot on former Sharks owner Greg Jamison, who is currently trying to buy the Phoenix Coyotes.

However, co-owner Stratton Sclavos did clear some things up with his statement about the situation—sort of.

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"It all comes back to mission No. 1 -- win the Stanley Cup," Sclavos said. "We have to give the hockey side the resources to put the best team on ice every season that we can."

A fair point, but with a sold-out arena and a team consistently winning, this team cannot be struggling for cash by any means.

NBC Sports Pro Hockey Talk's Joe Yerdon might have hit the nail on the head with his analysis of the Sharks' situation.

Now you have to ask the question: Are the Sharks’ owners being open about losses because of the ongoing CBA negotiations where the NHL is trying to knock their costs down again with the players? It certainly makes for convenient timing for the owners to have a what’s believed to be a successful franchise claim they’re losing money.

Whether or not Compton and the ownership are telling the truth here is up in the air at this point.  San Jose is a winning franchise with nothing but success since their expansion in 1991, and claiming they are losing money simply does not make sense.

Follow me on Twitter @ScottSemmler22

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