NHL Playoffs Could Mean Big Payoffs For Hurricanes
Posted April 18, 2002
RALEIGH, N.C. — The
hope their odds of winning the Stanley Cup improve this year. The team's financial future becomes brighter the longer they stay in the playoffs.
The team started its quest Wednesday night, giving their fans plenty to cheer about with a first-game win in a best of seven series with the New Jersey Devils.
Making the playoffs is one thing, but winning a series or two could translate into some much-needed cash for the Hurricanes, which has been operating in the red.
"Having our attendance up like it has this year helps a lot," Hurricanes President Jim Cain said.
Thousands of cheering fans in the stands have yet to propel the Hurricanes into the financial win column.
The team has been losing anywhere from $10 million to $15 million a year for the last three years.
Cain said making a serious run at the Stanley Cup will help the team's bottom line.
"In the early rounds there's some revenue sharing with the league. We've got to pay player bonuses. So it's really not until you make it into the second round and beyond that there's a real financial impact," he said.
For a team struggling for financial stability, getting beyond the first round could mean a windfall of millions of dollars -- not to mention the merchandise and tickets that could be sold.
Nelson Raynor picked up tickets for Fridays game.
"It's a great sport. I think if people come, they would really see what it's about," he said.
Cain remains optimistic about the team's financial prospects. With the increase in ticket prices, attendance and season tickets sales, he believesthe team will eventually make money.