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Melnyk: Sens will add at deadline if needed, despite $110M in losses

Oct 16, 2013, 7:55 PM EDT

Eugene Melnyk Getty Images

Ottawa owner Eugene Melnyk conducted a revealing interview with TSN 1200 on Wednesday, explaining that, despite the club’s rocky finances, he will put the Sens in buyer mode at the trade deadline.

“If I need to add a piece, I will,” Melynk explained, also revealing the Sens have lost $110 million since he took ownership in 2003.

Ottawa’s finances have been a major storyline throughout the summer and into this season. An internal player salary budget (projected to be just over $50 million) was believed to be one of the driving forces behind Daniel Alfredsson‘s stalled negotiations and eventual departure to Detroit.

In August, a lengthy Melnyk profile in the Ottawa Citizen speculated the Biovail founder had lost $94 million since taking over in ’03, a number that’s now, as mentioned above, apparently $110 million.

Despite all this, Ottawa could actually find itself in good shape come trade deadline time. They currently boast the NHL’s fifth-lowest payroll and, of the teams that made the playoffs last season, clearly have the most to spend.

In terms of deadline rentals, well, there are a few.

Pending UFAs that could be on the move include Buffalo’s Thomas Vanek, Calgary’s Mike Cammalleri, Edmonton’s Ales Hemsky, Dallas’ Ray Whitney, Winnipeg’s Olli Jokinen and New Jersey’s Jaromir Jagr.

Any of these could be a nice pickup for the offensively-challenged Senators, who finished 27th in the NHL last year with 2.33 goals per game (but, it should be noted, are up slightly this year to 2.50.)

  1. c9castine - Oct 16, 2013 at 8:33 PM

    This guy is a joke how do you loae that much money in ottawa with a competitive team? Bad ownership. Ottawa fans deserve better and so does the team

    • hockeyflow33 - Oct 16, 2013 at 8:46 PM

      By lying about your actual losses

  2. earpaniac - Oct 16, 2013 at 9:13 PM

    There is no way on earth, when you look at the relevant details, he lost that much money.

  3. hosewater2 - Oct 16, 2013 at 9:52 PM

    Melnyk no one cares how much money you lost on paper. The only question is do you want to win or not?

  4. pitpenguinsrulez - Oct 16, 2013 at 10:40 PM

    I think CSI: Ottawa exposed the true assclown he really is

  5. 89seminole - Oct 16, 2013 at 10:59 PM

    10 to 12 million dollar loss or so per year? Big deal, gazillionaires are always looking for write-offs, and the Sens are a good one to have. Sorry, no feeling sorry for you.

  6. thesportsjudge - Oct 16, 2013 at 11:29 PM

    So he will add a rental but wouldn’t resign the face of the franchise?

  7. channelguy - Oct 16, 2013 at 11:41 PM

    I dont think anyone believes this guy about his losses. The neareast franchises, Tornto and Montreal, are two of the most profitable in the league. Yeah, the Ottawa arena is actually in Kanata, a distant suburb that you get to in an hour and a half from downtown on game night if you are lucky, but people still go. And the team doesnt have to give tickets away for next to nothing, or lie about their attendance, like some of the franchises in the league.

    I remember when last year, some local bloggger did a detailed story on how Melnyk wasn’t losing money ON the team at all – that he was taking money FROM the team to cover his losses in his core business. Now if there was nothing to this, in an environment where Brian Burke sues anonymous bloggers for posting crap that he was fied from the Leafs for impregnating a sportscaster, you KNOW if this story was nonsense, Melnyk would have sued his butt off. Nothing happened, and I think that speaks volumes.

    It’s too bad. Ottawa ownership before Melnyk took over was disastrous, on an Atlanta/Phoenix level, and he WAS a very good owner for years. He probably did save the franchise in Ottawa. But things have changed in recent years, and the team suffers for it.

  8. President Charles Logan - Oct 17, 2013 at 2:54 AM

    wont matter by the time the trade deadline looms ottawa will be out of it by miles

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