Masthead graphic based on a painting by Gudrun Thriemer.

Sunday, October 26, 2008

Scott Morrison, "Canadian teams not exempt from financial crisis," CBC, October 24, 2008.

[As Noam Chomsky has long pointed out, North Americans are better informed about sports than politics, and the sports discourse is more cutting and honest than the one about politics. So while Stephen Harper is telling us that it can't happen here--meaning of course, specifically the bankruptcy of banks--the NHL is rightly worried about just what can happen here. Morrison offers an insight into the precarious world of obscene wealth. -jlt]

  Teams could lose several million dollars because of the changing exchange rate.
Like all businesses and other professional sports, the NHL has felt the effects of the global financial implosion. It just hasn't been devastated by it. Yet.
Most teams have cash in hand, either from sponsorships or season-ticket sales. And so far walk up sales, according to league statistics, haven't been impacted by the economic uncertainty and cash pinch.

Down the road, of course, that could change depending on how massive the crisis becomes and how long it lasts.
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