Nov 27, 2013, 5:19 PM EDT
Ottawa Senators owner Eugene Melnyk doesn’t care about the latest Forbes NHL franchise estimates that put a $380 million value on his club.
Nope — even though $380 million is considerably higher than the $220 million it was pegged at a year ago — it just doesn’t matter to him.
“You know who’s going to be interested in that?” Melnyk said today on TSN 1200 radio (audio). “My estate. Because that’s what it’s going to take to sell this team.”
Finances are a constant hot topic when it comes to Melnyk and his team. The Sens currently operate under a strict internal budget, considerably below the league’s salary cap, with Melnyk justifying the relative frugality by claiming he’s lost over $100 million since he took ownership of the club in 2003.
On that note, it’s interesting that Forbes estimated the Sens actually had a positive operating income of $6.8 million last season.
How can that be when Melnyk is claiming significant annual losses? Probably in large part because operating income doesn’t include interest (as well as taxes, depreciation and amortization), and the Sens are reportedly paying a lot of interest on the debt the club is carrying.
- NHL on NBC: Red Wings, Rangers fight to cling onto playoff spots 0
- Video: Flames score center-ice goal against Canucks’ Lack 12
- Stars believe Lehtonen suffered concussion from Haula collision (update) 14
- Video: Stars retire Mike Modano’s jersey 10
- Rostislav Klesla passes on joining Sabres organization following trade 11
- Ryan Murray has knee surgery, likely done for season 1
- Washington finally signs top prospect Kuznetsov 32
- Roberto Luongo records the shutout in first game back with Panthers 31
- Steve Moore remains shocked, disgusted about Todd Bertuzzi attack 66
- Canucks’ Kassian gets three games for boarding Dillon 27
- Canucks trade Luongo to Panthers (93)
- BLOCKBUSTER: Lightning trade St. Louis to Rangers for Callahan (82)
- Kings make splash, acquire Gaborik from Columbus (72)
- Report: Canucks want center, top prospect and first-rounder for Kesler (68)
- Steve Moore remains shocked, disgusted about Todd Bertuzzi attack (66)