via Mike Ozanian of Forbes, The Rangers are now on the brink of elimination from the playoffs after finishing the regular season with the second-best record in the National Hockey League and the top seed in the Eastern Conference. A first round ousting in game six in Ottawa Monday would be humiliating for a team many expected to reach the finals. It would also be costly for Madison Square Garden shareholders, who already have experienced a disappointing financial results in fiscal 2012, as net income came in at $47 million, $5 million below last year’s comparable period.
Each Rangers home playoff game represents roughly $1 million in net income for MSG. A trip to the finals would have likely meant at least 10 more home games. With MSG’s stock going for 33 times earnings, that’s $330 million of potential market value evaporated.
Source: http://www.kuklaskorner.com/index.php/hockey/comments/msg_shareholders_watching_the_rangers/
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