Local News

Despite Canes' Success, Team Will Still Be In The Red

Posted May 14, 2002

— Hurricanes tickets are a hot commodity right now, but sales were ice-cold most of the season. The team claims they have lost millions of dollars each year since moving to North Carolina four years ago. Team officials say that, even with the recent success, the team will again lose money this year.

Fans are lining up to pay top-dollar for NHL playoff tickets. Carolina Hurricanes ticket prices have jumped 20 percent from Round 2 to Round 3. However, Carolina Hurricanes President Jim Cain said even with the team in the hunt for the Stanley Cup, the organization is still in the red.

"Don't forget we have to share some of the revenue with the league that goes into the player bonus pool for playoffs," he said.

Last year, the franchise lost $20 million. Even with the success this year, the losses will be double digits. Cain points to a $40 million player payroll, plus a host of other factors.

"We don't have a big TV deal because we're in a small market. Our ticket prices are the lowest in the league and we don't have a big corporate headquarters here in the region like Detroit or New York," he said.

Playoff tickets for the Carolina Hurricanes range anywhere from $40 to $250.

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