With so much uncertainty, Larry Quinn can't predict just how severe the NHL's financial losses might be due to the coronavirus pandemic.
That doesn't stop the former Buffalo Sabres managing partner from providing a bleak assessment, at least for the short term.
Quinn said the NHL's bottom line could be sheared in half in the short term, effectively erasing the gains made since owners and players reached a revenue-sharing agreement following the lockout. The anticipated drop in revenue has already caused a large ripple through the league. "I said seven weeks ago, if we lost this season and part of next season, I could foresee a $40 million salary cap," he added. "I don't think it's going to get to that point. And I know one option that's being discussed is deferral of some of these wages they're paid and see what happens, and when the revenue bounces back they can get paid."
That's not the case today, with the Canadian dollar at the 75-cent range. Teams north of the border project losing $400,000 each time the Canadian dollar drops a penny, putting a strain on their ability to compete for or retain high-priced talent.
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