Thursday, January 19, 2017

CHL releases financial figures ... SPHL team in bus crash ... Phillips burns Oil Kings again


While one WHL team had pre-tax net income of $9,074,157 from 2012 through 2016, another lost $6,278,354 from 2012 through 2015.
The figures are part of a summary of financial information prepared by KPMG and dated Dec. 22, 2016, as ordered by a Calgary judge last year. 
The Canadian Hockey League, the OHL and WHL are facing a potential class-action lawsuit in which more than 370 former and present major junior players are asking to be paid minimum wage and such things as holiday pay and overtime.
Teams were ordered by a Calgary judge to compile and submit financial information, including tax statements, from 2011 through 2016. Twenty WHL teams prepared the information through 2016, while two — the Portland Winterhawks and Prince George Cougars — filed through 2015. All of this was audited by KPMG, which also prepared affidavits for the court.
Teams in the report aren’t identified; rather, they are numbered 1 through 22.
Team 8 averaged a net pre-tax income of $1,814,831 for the five years, while Team 18 lost an average of $1,569,589 in the first four of those years.
According to a five-year summary, the WHL had 11 teams show a profit over that period, with the other 11 losing money.
Team 8 was far and away the most profitable of the teams, with Team 15 next in line, showing an average net income of $509,593 for the five years, boosted by a net income of $1,238,831 in 2016.
The report shows just how volatile the major junior market can be. For example, Team 11 claimed a net loss of $807,627 in 2013, a net income of $193,133 for 2014 and $849,128 for 2015. In 2016, that figure was $349,318. Meanwhile, Team 13 followed four straight profitable years with a loss of $890 for 2016.
Five of the 22 teams showed a profit in each of the five years, while three others lost money each year.
While Team 8 showed a seven-figure profit in four of the five years, only one other team had such a single-year profit. Team 15 showed a net income of $1,238,831 for 2016. 
The report shows that the WHL had five-year total revenues of $375,718,507, with operating expenses of $347,047,705, meaning that its five-year operating profit was $1,670,802.
Factoring in other income and expenses, defined by KPMG as “income and expenses resulting from transactions that are outside of regular operations,” the WHL as an entity showed a pre-tax loss of $1,065,792 over the period in question.
There are enough figures in all of this to choke a horse, but of interest . . . 
In 2012, each WHL team received $76,400 — a total of $1,680,800 — from the World Junior Championship that was held in Calgary and Edmonton.
In 2013, each WHL team received $148,913 — a total of $3,276,088 — from the Memorial Cup that was held in Saskatoon.
In 2015, each of the 22 teams got $43,043 — a total of $946,946 — from the WJC that was held in Montreal and Toronto.
In 2016, each team got $118,477 — a total of $2,606,494 — from the Memorial Cup that was held in Red Deer.
The report also shows that WHL teams have paid out $9,675,219 in education money over the five years, an annual average of $1,935,044. That includes $2,195,925 in 2016.
Interestingly, all of this information was turned over to the court after which TSN’s Rick Westhead reported that “the CHL has asked a judge to seal those records, which will be used to establish the profitability of the teams and major junior leagues.” The CHL issued a news release Thursday night that included all of the information.
That news release is right here.
It is believed that the parties are to appear in court in Calgary on Jan. 24.
——

The Portland Winterhawks Booster Club is rolling this week with 43 members riding a bus as it follows the team on a four-game B.C. Division swing. Club members had a great time in Prince George on Tuesday and Wednesday nights, will be in Kamloops for a game tonight and in Kelowna on Saturday night. . . . Included on the trip is ‘Rowdy’ Ardyce Moore, who, according to Ted Clarke of the Prince George Citizen, “considers herself the troublemaker of the bunch.” Ardyce is 91 years of age and has been attending games since the Winterhawks relocated from Edmonton in 1976. . . . Clarke’s story is right here.
——
The City of Nanaimo is expected to hold a referendum on March 11 that will involve the potential building of an events centre that will include a hockey arena. Before then, however, there are a lot of questions to be answered, including: Exactly what will be the referendum question?
Kendall Hanson of CHEK News has more right here.
Meanwhile, the BCHL’s Nanaimo Clippers are wondering what might be in their future. “We’re in a precarious situation,” David LeNeveu, who owns a piece o the franchise and is its president and governor, told Mario Annicchiarico of the Victoria Times Colonist. “Obviously, if a WHL team comes to Nanaimo, that could displace the Clippers. There’s been no decision made on that side. We’ve been working with the league to protect the league and protect ourselves and everyone involved, but there’s not much to say until March 11 happens. Everything is up in the air until that vote goes one way or another.”
That story is right here.
——
G Brandon Jaeger of the SPHL’s Columbus Cottonmouths was in hospital being treated for what is believed to be a broken leg on Thursday night after the team bus rolled as it made its way to Peoria, Ill., for a Friday night game. . . . Jaeger, 26, is from Champlin, Minn., who played two seasons with the Wenatchee Wild when that franchise was in the NAHL. He is in his second season with the Cottonmouths. . . . Originally, all 24 people on board the bus were taken to hospital. That included Jerome Bechard, the general manager and head coach. Bechard, from Regina, played four seasons (1986-90) with the Moose Jaw Warriors. . . . Allan Dawlford of Smiths Station, Ala., the 74-year-old bus driver, also remains in hospital in fair condition. He is to be charged with failure to reduce speed in order to avoid a crash. . . . The Columbus roster includes at least two former WHLers — D Spencer Galbraith (Brandon, Lethbridge, Calgary, 2010-14) and D Petr Senkerik (Kootenay, Prince George, 2009-10). . . . David Eminian of the Peoria Journal Store has more right here.
———

THURSDAY’S GAME:

At Edmonton, F Matt Phillips scored three times and F Tyler Soy had four assists as the Victoria Royals
MATT PHILLIPS
doubled the Oil Kings, 6-3. . . . Phillips, who has 32 goals, put up his fourth career hat trick. Three of those, including two this season, have come against Edmonton. . . . D Will Warm (7) gave Edmonton a 1-0 lead at 8:41 of the first period. . . . Phillips tied it, on a PP, at 12:16. . . . F Trey Fix-Wolansky scored his 13th goal, on a PP, at 15:07 to give the home side a 2-1 edge. . . . Victoria tied it when F Jack Walker scored No. 22, on a PP, at 16:48. . . . Edmonton went in front again at 1:57 of the second period when F Artyom Baltruk scored his second goal of the season. . . . D Chaz Reddekopp (8) pulled the Royals back into a tie, with a shorthanded score, at 5:38. . . . Phillips broke the tie at 17:33. . . . F Jared Dmytriw added insurance with his ninth goal, at 6:42 of the third period, and Phillips completed his hat trick at 15:07. . . . Soy drew the primary assist on each of Phillips’ goals and also set up Reddekopp’s shorthanded goal. . . . Victoria D Marsel Ibragimov had two assists, with Walker and Reddekopp adding one each. . . . Fix-Wolansky also had an assist. . . . G Griffen Outhouse stopped 18 shots for the Royals, while Edmonton’s Patrick Dea blocked 36. . . . Victoria was 2-8 on the PP; Edmonton was 1-4. . . . The Royals (25-18-4) have won three in a row. They hold down the Western Conference’s first wild-card spot and are two points behind the third-place Kelowna Rockets in the B.C. Division. . . . The Oil Kings (18-23-4) have lost six straight and are two points out of a playoff spot. . . . Announced attendance: 6,389.
——

FRIDAY’S GAMES (all times local):

Victoria at Calgary, 7 p.m.
Seattle at Everett, 7:35 p.m.
Portland at Kamloops, 7 p.m.
Moose Jaw at Prince George, 7 p.m.
Prince Albert at Red Deer, 7 p.m.
Medicine Hat at Regina, 7 p.m.
Brandon at Saskatoon, 7:05 p.m.
Kootenay vs. Tri-City, at Kennewick, Wash., 7:05 p.m.
Kelowna at Vancouver, 7:30 p.m.

There has never been a subscription fee for this blog, but if you enjoy stopping by here, why not consider donating to the cause? Just click HERE. . . and thank you very much.
PhotobucketPhotobucketPhotobucket

0 comments:

Stories from NHL.com

Stories from ESPN.com

  © Design byThirteen Letter

Back to TOP