Islanders: Last in revenues, again
by Dominik on Oct 30, 2008 11:19 AM EDT
in Big Picture Musings
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PrintThis probably surprises no one, but Forbes' annual NHL biz numbers show the Islanders are again 30th in revenues. That's three years running. [Note: the figures include what a team gets from revenue sharing, and the Islanders -- as a "large market" team -- do not receive any revenue sharing goodies.] But do not despair: Forbes has the Isles at 29th ($154 million) in franchise value! Take that, Phoenix!
James Mirtle is all over it at his new location on this here blog network. He takes a historical look at the post-lockout trends. Some of the trajectories of other teams will surprise you.
So what does this mean for the Islanders? Well, situation unchanged. The Islanders need the new arena, period.
Soon would be nice -- particularly with global financial conditions changing rapidly -- but that's been the refrain for the past decade+. Fifteen-year contracts and such aside, we're very lucky for Charles Wang's patience.
These are Forbes figures, of course -- so they'll probably be disputed by every NHL owner. But it's an illustrative picture. In operating income, Forbes has the Islanders losing $8.8 million last season (the figure or phrase commonly thrown around is that "Charles Wang loses $20 million a year" on the club). That $8.8M loss, by the way, is better than only Buffalo, Florida, Phoenix and Carolina.
What do you think? "Stay the course, the Lighthouse Project will be approved someday"? Or start hoarding canned goods and vintage Islanders game videos?
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Funny to think the article said the Islanders need to get out of town, yet the team is getting a new rink situated in the not too distant future. What does this mean for the new place?
Follow the Penguins on SBN @ Pensburgh.com
Wang has never threatened it, but it’s hard to see any scenario where they remain if the new project doesn’t go through. That project has had a near-Soviet-level of bureaucratic and political hoops. The last inch-forward news was positive, but everyone’s waiting … the results of an environmental impact study are supposed to be out this fall.
SBN now has a NY Islanders blog at LighthouseHockey.com.
Is there even a projected date for the arena? If I’m not mistaken, they were promoting the hell out of it last season and talking up the shops, stores and apartments that would be in the area.
Follow the Penguins on SBN @ Pensburgh.com
In a perfect world (read: not this one)...
…groundbreaking sould be summer 2009. This is actually the same site as the current Coliseum, so they would do one round of massive renovations before/during next season, and another during the following offseason. Not sure about the rest of the development surrounding the arena.
SBN now has a NY Islanders blog at LighthouseHockey.com.
So what you’re saying is, a move would have to be decided on pretty soon then, huh?
Follow the Penguins on SBN @ Pensburgh.com
Honestly, the only way they’re moving is if the Lighthouse Project is not approved, Wang gets tired and sells the team, and a theoretical buyer (seeing no arena) has the all-clear to buy and move them.
The plan has gone through so many hoops by now that I think — global financial crisis aside — there’s no way it won’t be approved eventually. Only question is how much more money Wang loses before then. He really is a saint in that department.
SBN now has a NY Islanders blog at LighthouseHockey.com.
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Islanders Schedule
Next 5 Games
Los Angeles
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Sat 02/11 | 1:00 PM EST |
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Florida
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Sun 02/12 | 3:00 PM EST |
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@
Winnipeg
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Tue 02/14 | 8:30 PM EST |
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@
St. Louis
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Thu 02/16 | 8:00 PM EST |
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Carolina
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Sat 02/18 | 7:00 PM EST |
Last 5 Games
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Montreal
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Thu 02/09 | L 2 - 4 |
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@
Philadelphia
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Tue 02/07 | SO - W 1 - 0 |
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Buffalo
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Sat 02/04 | SO - L 3 - 4 |
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Ottawa
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Fri 02/03 | OT - W 2 - 1 |
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Carolina
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Tue 01/31 | W 5 - 2 |
Atlantic Standings
| GP | W | L | OTL | PT | |
|---|---|---|---|---|---|
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New York Rangers
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52 | 34 | 13 | 5 | 73 |
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Philadelphia
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54 | 31 | 16 | 7 | 69 |
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New Jersey
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54 | 31 | 19 | 4 | 66 |
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Pittsburgh
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54 | 30 | 19 | 5 | 65 |
|
New York Islanders
|
53 | 22 | 23 | 8 | 52 |
(updated 2.10.2012 at 9:27 AM EST)
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