I can’t believe people are freaking out because Mario said they will probably lose 7 million this season (even more next season) but he says it’s worth it to field a contender and produce a winning product (Kevin McClatchy should take note). Mario has been saying this for a while and everyone blew him off and said we don’t need one. People this place is used for more than 42 hockey games a year. Concerts do not come to Pittsburgh because the Arena is inadequate.
Yes the Pens are fielding a squad that many think will go to the Cup finals plus have pushed the team to the talk of the town above the beloved Steelers. They’re selling more tickets but what most people don’t realize is:
1) Tickets prices have dropped considerably. Yes it’s selling out but that doesn’t cover the price reduction to show much of a profit when the number of seats has remained the same. They didn’t know Sid was coming to da burgh when they reduced prices. It was all based on “how do we get fans to come back to a team that was worst in the league?”.
2) Sid is great but RBK and the NHL get most of the licensing money, not the Pens. They get a small fraction. Pens need to get more sponsorships and with the possibility of the team leaving in 3 years who wants to invest?
3) They’re 8 mil over last season’s payroll. That doesn’t offset increased ticket sales when the arena isn’t any bigger.
4) They make the playoff and DO get money but not as much in the past because of the revenue sharing that’s in place. Still not a bad thing because it helps everyone out if the Pens are in or not.
If I get more time I’ll collect more thoughts.