NHL Lockout 2012: Lost Revenue Adds Irony to Labor Stoppage
The NHL lockout is mostly about money, yet the league is losing money every day.
NHL deputy commissioner Bill Daly (via Eric Stephens of The Orange County Register) had this to say regarding the league's recent losses in revenue:
What I can say is obviously we lost about $90 million with losing the preseason. I would say with the cancellation of the first two weeks of the regular season, we’re probably in jeopardy of losing about another $140 million.
So you’re talking about 230, 240 to this point that’s in jeopardy. That’s 240 that we both lose. It’s not just the league that’s losing that money. The players are sharing on some basis in that. Some substantial basis. Whether that’s 57 percent, or whether that’s 50 percent or whether that’s 47 percent. It’s some basis and it’s a significant basis.
Everyone should be laughing right now. The NHL and the players association, while arguing about the split in the shared revenue, are losing revenue. Read that a few times and see if it makes sense.
Both sides need to come to their senses. Hockey is a business, and the owners are entitled to run it as such. On other hand, the players put themselves under a great deal of risk every time they step foot on the ice; that must be compensated appropriately.
But, it's hard for anyone to make anything without playing. Daly is only talking about the money they've already lost. That doesn't include what will be lost if they can't come to an agreement in the near future, or at all.
It has become an issue of pride as much as anything. Neither side wants to give in, hoping that the other one will before they do. Meanwhile, money is trickling away, making the situation more urgent.
Hockey fans can't be surprised. They've been through this before. Entire seasons have been cancelled, so this is nothing.
But that doesn't diminish the humor here. The two sides don't seem close to ending this standoff anytime soon, meaning money will continue to dissipate into thin air.
Hockey fans have had enough. Casual sports fans just don't care. The league office and the players association squander money like it's their job, and they don't seem to care either.
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