|
|
||||||
| |||||||
|
ART & COLLECTIBLES Fine Art and Antiques Collectibles Luxury Items Our Selection News CAREERS Search for a Job Post a Position SPORTS Top Sports News Baseball Basketball Football Hockey WINE News Reviews Vintage Charts CIGARS News Glossary Tips B-COMMERCE REAL ESTATE United States Worldwide WEATHER U.S. Cities Cities Worldwide Weather Maps  |
|
|||||||||
 |
| |||||||||
©1999 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.
post $tZXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate ,$tZ LW| ` _ ntry (k=i;6t + 2 url *http://quote.bloomberg.com/gifs/right.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a B 5h , B PLf| lj7Cy 8b]@Jfl0z !CkF
Carolina Hurricanes Blown Off Course By Financial Troubles
Raleigh, North Carolina, Nov. 16 (Bloomberg) -- Carolina Two-and-a-half years later, the franchise once known as the Now, with losses since the move having exceeded $75.5 The agent for Carolina's former captain, Keith Primeau, The move to North Carolina, where a state-of-the-art NHL
Asking for More
Gov. John Rowland blames Karmanos, the 56-year-old chairman Connecticut offered to build a $145 million arena in The Whalers would have operated the arena and received all State and local officials also agreed to underwrite $20.5
Bleeding Money
It wasn't enough for Karmanos. He demanded a rent-free The agreement Karmanos got in North Carolina, though, wasn't The team invested about $40 million in the new $154 million Hurricanes officials have also faced the task of selling
Television Rights
The Raleigh-Durham area, meanwhile, is the U.S.'s 29th- It proved to be a tough challenge. Two seasons spent playing In contrast, the Whalers, because of a save-the-franchise
Starting Over
Even in the new building, where the team has yet to sell the It's no wonder then that Karmanos admits his team would've For now, the absentee owner -- he still lives in Detroit and Others aren't so sure.
©1999 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.
post $tZXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate ,$tZ W| ` _ ntry (! lXlշ&73,SX[lQ0 ] url *http://www.bloomberg.com/gifs/space10.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a
! ,
;post ,SXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate ! ,SX ڳɴ| ] , ntry (8v0^ab!6
O+Nf \ url /http://www.bloomberg.com/gifs/hockey_title.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a k4kiƶ! , 0I8ͻ
dihlp,tmx|pH,Ȥrl:ШtJZجvf `{Yt!NJ%P x~iXP pGv
=uL c'uwC'!K&r?&;Ld<%:4&)u%8$%k c "y$Ū$#"#r"AM#>SBA:@{H($7A9 @_{D<αX`u, Ԅǭ}kIQʒ:@\<}6_@(G 2 3&;e0"/'9Hq4iZf9DA{:0)_dF;MQ[! c @Պ#%UFu{t͢ e wĿGXAEKaγU
.#GT 2 p0 S㷗=S'ZAٰG'2}
IUVC&]*4 `j4!Oo?Qς'-$jJ
gbwvU!u M QcҎ8%M@
X@`'ԓx1 ,IYP~
1%|>66c
ZIEd7f@{CU 1 $f6h" NF> (~$fiL0B%ufj 8yh
Mj**!@7·|JK|)뭸] ;post 6XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate 8v6 裴P| \ & ntry (5 1 ax $e?R34'IԱ k url 1http://www.bloomberg.com/gifs/horiz_line_139.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a k4k ! ,
;post e?XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate 5e? kP9| k 3 ntry (|
NLeָBK'Z^ url 1http://www.bloomberg.com/gifs/headline.gif?16793 bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a 333 ! NETSCAPE2.0 ! , Aڋ" Y(&jit[hv,ېZd&= J-iP,7V"zt!.g Iw׆7ȁg%Hg& hyI9*:JZjzj5 [YKջ%9,|W l &
;[fv̺ k~ o}\v~vjy:|1ĉ+Z1Ta L9)#ЂRDL7M̍.|;I#C[Kf>}.?X&řoƻSUP=JBvS*7%Vjh
pwcVc.BwS2!
滏aPg ¸tAiKw
&p,m?O"9 e'ؔ= rYjA=.xڐs L49r[N|rm'ѵ/ۿ?
! , 333 ڋy*[*-1
2^#Y|_hly[M9<W$'ut5k&t32epS^Q^g^Ġ$1xhHVƨ (YiGy9 *:JZjz:EwŨv'*+j[;J+
6J];Z'{> 8 N,}n
jȸ<0
:|1ĉȋPcb013K e ahH1lڶ2FN
,Nnl\Prcx4 ;iT-( a|"ÚKf6[*ksOꍤ
');
post >}XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate s[>} bWB ntry (9 KOPF't@).o@@e[ url (http://quote.bloomberg.com/gifs/go1.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a pqr ! , @; ) ST#䜡fK H:'^leũ~Qo>:%Cuڦ ;post @XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate 9@ fR | j ntry (yDP@Tni
J'a 1 url ,http://quote.bloomberg.com/gifs/logonew.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF89a B OOO! , B ڋQ¼扦L
b纋DL L =TشM]ئ 6mʸź~3] X}+@b0hheHXx `8ـ7 'X9zq9 xE9@Xk
[)`IjJ<ȸX|lxJ@Mkmɍm]͝L)3 }=ޞ^3.oN}Aߛ ҟlLw ;#'ly4 U$[nrcjZzuN9 ;$tXE
2sW]@QlDBДDH*ӔHl/LYrIo+}Fvsnɬ>{W :)YW1ٶfB<\y< pv:$Č6&]lQ'MY wq";%ԗ ;uq[8;z1g-n7Ft8Dߦd\A>nfl}///wAFѾk4_.VYQaW`x X4Xx #* abS iaziO}ai!b@DWA fDe4B:($ T8)7$b|F?R`UvL4lPQVc&.ҐWHS~'
k
ã(Q2y2a'J|g}Z "1?$6*.*餎VjikfJţ- ;post TnXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate yTn hWɴ| 1 ntry ((E̪0Ryi4w=~ % url .http://quote.bloomberg.com/gifs/life_bar2.gif bsrl Yhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8 mime
image/gif hvrs data GIF87av gfge3e333].]T*TRQRH$H>>>66$$$,,## , v pdihlK$nmL|挝o)`l:hAHL,:z`koz]aQ ) q@{yxq{y~+Fo|t%|rtvy813c'qsu%t{z*i)}VHJOzLÙQLSx b+,&ץ٭%00tz0'&t
ӈ;z$B_vz x/~ &bx Gz 2KWkd3A ʓ P]*"SIjh&IUr% JU̞|.$P-)XdKpʫiVRu4)HvjYGT`zZP1 㝎+$'P|G_t I)FvuB+oI^F۪oǑ
qx!
(+8@'}' ps7CSxxu1r~\Z:I s
ART & COLLECTIBLES
Fine Art and Antiques
Collectibles
Luxury Items
Our Selection
News
CAREERS
Search for a Job
Post a Position
SPORTS
Top Sports News
Baseball
Basketball
Football
Hockey
WINE
News
Reviews
Vintage Charts
CIGARS
News
Glossary
Tips
B-COMMERCE
REAL ESTATE
United States
Worldwide
WEATHER
U.S. Cities
Cities Worldwide
Weather Maps
Tue, 16 Nov 1999, 6:25pm EST
Carolina Hurricanes Blown Off Course By Financial Troubles
By Barry M. Bloom
Hurricanes owner Peter Karmanos said his National Hockey League
team was driven south from Hartford, Connecticut, by a governor
who didn't care about the sport.
Hartford Whalers is still heading south financially.
million, the franchise is at the crossroads. To break even in a
new yet-to-be-named arena in Raleigh, North Carolina, the
Hurricanes must average 15,000 people a game. The problem is,
they've sold just 6,000 season tickets and attendance is falling.
If the red ink continues, Karmanos said he would slash the team's
$28 million player payroll.
``When you look at it right now, it's scary how bad it could
be in two or three years,'' said Dean Bonham, a Denver-based
sports-franchise consultant.
thinks it's bad enough already. Primeau, an unsigned restricted
free agent who had 26 goals and 63 points last season, wants $4
million a year, $1 million more than Karmanos has offered.
Primeau says he'll continue to sit until he's traded.
``To me, they've already made a decision that this isn't
going to work down there,'' said Don Reynolds, Primeau's agent.
And today, saying it was necessary to restructure the
organization, Karmanos accepted the resignation of the team's
president, Dean Jordan, who hadn't even been in the position for
two years.
arena wasn't nearly ready, was borne in acrimony. Even now, the
heated feelings of the 1997 departure from Hartford have yet to
cool.
``The reason the Hartford Whalers are gone has nothing to do
with the owner and everything to do with the governor who didn't
understand the sport,'' Karmanos said. ``He just absolutely
stonewalled any effort to keep the team there.''
of Compuware Corp., a company he helped found in 1973. Karmanos
is co-owner of the hockey franchise but speaks for the team as
the representative to the NHL's Board of Governors.
``Every time we gave the Whalers what they wanted, they'd
come back to the table and ask for something more,'' said Dean
Pagani, a spokesman for Rowland.
Hartford at a cost to the club of $2.5 million a season in rent
and a 10-percent surcharge on tickets.
revenue not related to college basketball. The state offered a 20-
year agreement that guaranteed about $45 million a year in arena
revenue, including the sale of 80 luxury suites.
million in losses for the team to cover the two seasons it would
take to build the arena.
building at taxpayer expense with all revenue going to the
Whalers, no ticket surcharge and a 20-year lease with the option
to terminate after 10 years under certain conditions.
``We weren't looking to make a fortune, but we were bleeding
red ink,'' he said, noting that Rowland later offered to build a
rent-free stadium in a failed effort to lure the National
Football League's New England Patriots down from Boston. `If the
governor had offered us a similar deal we would've been in
seventh heaven.''
much better than Connecticut's final offer.
arena in Raleigh and will pay $3 million in annual rent for the
next 20 years, Karmanos said. The arena has just 61 suites, four
of which aren't sold. As in the Hartford proposal, the team keeps
all non-college basketball-related revenue.
hockey in a Sun Belt state where college basketball is king --
North Carolina State sold more than twice the number of season
tickets the Hurricanes did in the same building.
largest television market, slightly smaller than Hartford, the
27th-largest. The Hurricanes' $2 million cable television
contract is just $500,000 more than the agreement the franchise
had in Hartford three years ago.
``It's not the most lucrative TV arrangement in the world,''
said Jordan, whose job it was to market the team to the area's
corporate community.
80 miles away in Greensboro, North Carolina, while the Raleigh
arena was under construction only compounded the problems. The
Hurricanes averaged 9,052 people in the minor-league Greensboro
Coliseum, even though the team was successful, winning the
Southeast Division title last season and making the playoffs for
the first time since 1992.
ticket selling campaign, averaged 13,657, or 93 percent of
capacity in the Hartford Civic Center during their final season.
naming rights, attendance is dwindling. The team averaged 13,803
for its first five games after selling out the Oct. 29 opener at
18,730. But the announced attendance has gone down significantly
every game since to a low of 10,288 last Saturday night.
``It's like we're starting all over again,'' Jordan said
before his departure.
been in about the same financial shape had it remained in
Hartford in a new building.
``The Carolina move was suspect right from the beginning,''
Bonham said.
plans to attend just 20 home games this season -- remains
defiant. He recently boasted that after completing estate
planning to leave the team to his children, he can sustain
financial losses for the length of his 20-year lease.
``They're paring the payroll down and they'll unload it,''
Reynolds said. ``There's a lot of disappointed people in
Hartford. There really should be a team there still.''
\n');
document.write ('
\n');
document.write ('\n');
post m9XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXcate 6~4m9 WA tcat k=i `ײȴ| w s[>} bWB 9@ fR | j yTn hWɴ| 1 (Ey l\d|
: , y:\d|
H zh ] | W ,$tZ W| ` _ ! ,SX ڳɴ| ] , 8v6 裴P| \ & 5e? kP9| k 3 |
B BW| K R z 1j| T 6~4m9 WA aux `SURL Xhttp://quote.bloomberg.com/pgcgi.cgi?T=life99_nhl2.ht&s=23a7215e570be761c7bf8596ac14bed8\n');
document.write (' \n');
document.write ('
\n');
document.write (' \n');
document.write ('
\n');
document.write ('