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| Blackhawks don't make money? https://mail.chicagofanatics.com/viewtopic.php?f=24&t=93469 |
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| Author: | Beardown [ Wed Apr 15, 2015 5:32 pm ] |
| Post subject: | Blackhawks don't make money? |
Bernstein is a fool for believing this. He just said they do 170 million in revenue. He said the team payroll is 70 million. Bernstein then said they lose 10 million a year. Really? Where is that 110 million going to account for this loss? |
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| Author: | pittmike [ Wed Apr 15, 2015 5:34 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Beardown wrote: Bernstein is a fool for believing this. He just said they do 170 million in revenue. He said the team payroll is 70 million. Bernstein then said they lose 10 million a year. Really? Where is that 110 million going to account for this loss? Catering and Alcohol. 
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| Author: | Darkside [ Wed Apr 15, 2015 5:34 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Beardown wrote: Bernstein is a fool for believing this. He just said they do 170 million in revenue. He said the team payroll is 70 million. Bernstein then said they lose 10 million a year. Really? Where is that 110 million going to account for this loss? They write it off. |
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| Author: | Beardown [ Wed Apr 15, 2015 5:38 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Let's just say operating expenses and payroll of other Hawks personal besides the players is 40 million. That's high to me. That still leaves them at 60 million profit per year. I know the Blackhawks love to tell people they lose money. But they don't. Rocky might give himself a salary of 70 million and then he can technically claim the Blackhawks lose 10 million. 
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| Author: | pittmike [ Wed Apr 15, 2015 5:38 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
OMG listening to this and they have no fucking idea how hockey works. |
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| Author: | denisdman [ Wed Apr 15, 2015 5:39 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
The Trib did a big story on that after the first Cup. Rocky expected them to lose money for several more years. If that timeline is correct, they should be in the black by now. For whatever reason, the Hawks couldn't make money even while selling out. I am sure it is due to weak broadcasting fees. |
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| Author: | billypootons [ Wed Apr 15, 2015 5:39 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
i thought i remember reading that even during the 2013 cup year they lost money. this isnt new news is it? |
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| Author: | Beardown [ Wed Apr 15, 2015 5:42 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
denisdman wrote: The Trib did a big story on that after the first Cup. Rocky expected them to lose money for several more years. If that timeline is correct, they should be in the black by now. For whatever reason, the Hawks couldn't make money even while selling out. I am sure it is due to weak broadcasting fees. So we take Rocky's word? Because he doesn't have an interest in telling people he loses money? Ok. Bernstein said their take is 170 million per year. They don't spend 170 million a year. They just don't. Let's not make this complicated. |
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| Author: | denisdman [ Wed Apr 15, 2015 5:44 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Beardown wrote: denisdman wrote: The Trib did a big story on that after the first Cup. Rocky expected them to lose money for several more years. If that timeline is correct, they should be in the black by now. For whatever reason, the Hawks couldn't make money even while selling out. I am sure it is due to weak broadcasting fees. So we take Rocky's word? Because he doesn't have an interest in telling people he loses money? Ok. Bernstein said their take is 170 million per year. They don't spend 170 million a year. They just don't. Let's not make this complicated. Ok so you're saying I should believe Dan, master of the fake sources? You believe his revenue estimate but not his spending estimate. And yeah who gives a chit? |
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| Author: | Darkside [ Wed Apr 15, 2015 5:45 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
denisdman wrote: And yeah who gives a chit? ding ding ding |
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| Author: | Beardown [ Wed Apr 15, 2015 5:46 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
No. I'm saying the opposite. Dan says they lose money. I'm saying they don't. Can you read? |
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| Author: | Darkside [ Wed Apr 15, 2015 5:47 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Beardown wrote: No. I'm saying the opposite. Dan says they lose money. I'm saying they don't. Can you read? Well that's just not nice. |
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| Author: | denisdman [ Wed Apr 15, 2015 5:48 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Beardown wrote: No. I'm saying the opposite. Dan says they lose money. I'm saying they don't. Can you read? No, and I still passed the CPA exam. |
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| Author: | Beardown [ Wed Apr 15, 2015 5:57 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Alright. I'll do my own figures. Blackhawks average ticket price is $79. They seat 20,500 and they sell out all 41 games. That's about 66.5 million in ticket sales alone. Not to mention there long runs in the playoffs the last few years. 10-12 more home games. Those tickets are more expensive. So add another 16 million or so. That puts it to 82 million. Concessions? Idon't know. Has to be at least 30 million. Now wer'e at 110 million. Parking? 20 million probably. Local TV and Radio. I know it's not much but it has to be at least 20 million. Which is low compared to other sports. Now we're at 130 million. National TV deal split amongst all teams is probably nothing. 2 million. Merchandise, i'll say 15 million. So I've got them at 147 million in revenue. 70 million is spent on the players. They're not spending 77 million on other crap. Thus, they are not losing money. I win. |
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| Author: | Beardown [ Wed Apr 15, 2015 6:07 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Forget my figures. Bernstein was right. They made 172 million last year. http://www.statista.com/statistics/196805/revenue-of-the-chicago-blackhawks-since-2006/ |
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| Author: | Tad Queasy [ Wed Apr 15, 2015 6:21 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Didn't Curious Hair address this a while ago? Curious Hair wrote: They arrange their books so that parking/concession/United Center revenue is attributed to other WirtzCorp subsidiaries, while the Blackhawks themselves are just expenses. Hence, "losing money." If you believe the Chicago Blackhawks are ultimately a losing proposition at their supply/demand curves, then I would like to show you several bridges I have for sale.
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| Author: | pittmike [ Wed Apr 15, 2015 6:24 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Now all those graphs are something dman can work with. I always was led to believe the issue was that what they counted as costs were going to the catering and alcohol suppliers which are also owned by the Wirtz family. Also, any rent or costs of the UC are 50% Wirtz family as well. |
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| Author: | Juiced [ Wed Apr 15, 2015 7:01 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Darkside wrote: denisdman wrote: And yeah who gives a chit? ding ding ding 
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| Author: | Seacrest [ Wed Apr 15, 2015 7:45 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Tad Queasy wrote: Didn't Curious Hair address this a while ago? Curious Hair wrote: They arrange their books so that parking/concession/United Center revenue is attributed to other WirtzCorp subsidiaries, while the Blackhawks themselves are just expenses. Hence, "losing money." If you believe the Chicago Blackhawks are ultimately a losing proposition at their supply/demand curves, then I would like to show you several bridges I have for sale. His summation is close. There is no "arrangements" of books. They operate separate companies, like Bismarck Catering, that are not owned by the Blackhawks. I believe the Hawks also own Red Top parking. The United Center is also a stand alone corporation as well which they share with Reinsdorf I believe. |
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| Author: | Chus [ Wed Apr 15, 2015 7:56 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Darkside wrote: Beardown wrote: Bernstein is a fool for believing this. He just said they do 170 million in revenue. He said the team payroll is 70 million. Bernstein then said they lose 10 million a year. Really? Where is that 110 million going to account for this loss? They write it off. Write it off what? |
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| Author: | Darkside [ Wed Apr 15, 2015 7:57 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
Chus wrote: Darkside wrote: Beardown wrote: Bernstein is a fool for believing this. He just said they do 170 million in revenue. He said the team payroll is 70 million. Bernstein then said they lose 10 million a year. Really? Where is that 110 million going to account for this loss? They write it off. Write it off what? They just write it off. |
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| Author: | W_Z [ Wed Apr 15, 2015 7:59 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
You don't even know what a write off is. |
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| Author: | Darkside [ Wed Apr 15, 2015 8:00 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
W_Z wrote: You don't even know what a write off is. no. But they do. |
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| Author: | bigfan [ Wed Apr 15, 2015 8:42 pm ] |
| Post subject: | Re: Blackhawks don't make money? |
W_Z wrote: You don't even know what a write off is. but in the end, he is correct. All the other entities make $$$. J&D, Wirtz realty, Bismarkie! The UC, Wirtz Equipment rentals....so taking a loss on something isnt exactly a killer. And if you are going to take a loss on something, why not take that loss on something you have a ton of fun 'expensing". Taking a loss on Wirtz equipment rentals....sounds boring! Did you lend out free jackhammers to your friends? Wiliam Wortz would be rolling over if he saw them losing money...no matter how much he made on everything else. This is only possible as the same family members own the team and the other entities. Cant do this with the Bulls, due to the vast ownership group. |
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| Author: | good dolphin [ Thu Apr 16, 2015 7:53 am ] |
| Post subject: | Re: Blackhawks don't make money? |
God bless the Wirtz' for operating a business at a loss to them because it benefits the greater public good. If only Diogenes had searched in Chicago... |
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| Author: | good dolphin [ Thu Apr 16, 2015 7:55 am ] |
| Post subject: | Re: Blackhawks don't make money? |
Just another example of a guy who used to be a cynic now accepting whatever falls from the mouths of his overlords. Great job Gunga Dan! Keep carrying that water |
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