Hurricanes owner thinks other owners overspending

[Iced Tea]

The Detroit News (http://www.detnews.com/2005/wings/0508/30/D04-297556.htm) says Karmanos hammers owners for alleged overspending

By John Niyo / The Detroit News

The NHL's economics landscape has changed dramatically with a new collective bargaining agreement. But Detroiter Peter Karmanos, owner of the Carolina Hurricanes, still doesn't like what he sees.

At a promotional event in Durham, N.C., last week, Karmanos, one of the NHL's hard-line owners, ripped some of his colleagues for overpaying players.

"Names don't score goals," Karmanos told the Raleigh (N.C.) News-Observer. "Just because somebody gets paid a lot of money, that doesn't make them really great. Has everybody lost their hockey mind? Some of the GMs have a short attention span."

The Hurricanes' most significant free-agent moves were signing ex-Red Wing Ray Whitney, forward Cory Stillman and defenseman Oleg Tverdovsky. Their payroll is $27.8 million -- well below the $39 million salary cap -- and they might qualify for the league's new revenue-sharing plan.

The team's average ticket price will drop by about $5 this season.

"We just were smarter about doing it than some of the other teams," Karmanos said of this summer's free-agent frenzy.

"Some of the other general managers don't realize they don't get mulligans anymore. Philadelphia and Detroit and Toronto, before if they made a $10 million mistake, they'd go out and get another player. Those days are gone. We're going to see in the long run how it works out."

(Other Detroit sports stuff followed)
Karmanos has a point. It will be interesting to see when some trades or signings don't work out and there is no available cap room and no one wants to trade crap for good players.

On the other hand, he's also one of the cheapest owners. I get the feeling that Karmanos and Wirtz want the NHL to revert to the time when there was no NHLPA and owners could fix the books.

[PDO]

"Names don't score goals," Karmanos told the Raleigh (N.C.) News-Observer. "Just because somebody gets paid a lot of money, that doesn't make them really great. Has everybody lost their hockey mind? Some of the GMs have a short attention span."

Coincidently, neither does anybody in a Carolina uniform.

[MadDevil]

I agree with what he's saying to an extent. Some of the contracts players have gotten in the "new era" seem as ridiculous as those that helped drive the NHL to it's current economic status (among other factors). I'm still taking a wait and see approach to a lot of these contracts, some may work out, while others will blow up in the teams faces.

Of course, Karmanos could just be jealous because his team is going to stink it up yet again this year. There is a point where being "fiscally responsible" goes overboard and turns some of these franchises into jokes (Chicago, Carolina, etc.)

By the way, nice sig there Tea.:)

[Amoroq]

I am trying to remember what team signed Federov to that 38 million, 6 year offer sheet. Does anyone remember the team?

[PDO]

I am trying to remember what team signed Federov to that 38 million, 6 year offer sheet. Does anyone remember the team?

I don't think anyone cares about that team, hence the whining.

[Mel]

Karmanos should keep his yap shut even if he has a point... he got everything he wanted. A hard cap is in place. There is no need whatsover for him to go bashing other teams. If he still cannot operate in Carolina under this system, then he should move, and quit his whining.

BTW - He will be the first one with his hand out for revenue sharing, when the time comes. Is it the collective big markets' fault that Carolina draws 11,000 per game?

[Max Power]

Who was it that Carolina just signed for a ridiculous amount that hasn?t played in the NHL for 2 or 3 years?

[grim]

I just don't see the problem here. Each team has $39M - or whatever. If some teams want to blow their budget on a few high earning stars, then the salary cap means they'll have to fill up the rest of the team with journeymen and whatever their drafting/farm systems can produce. I don't see that doing it that way gives any advantage over teams that spend their $39M in other ways. I think Karmanos just likes to read about himself in the news.

[Madferret]

Who was it that Carolina just signed for a ridiculous amount that hasn?t played in the NHL for 2 or 3 years?

Tverdosky (sp)
7 M / 2 years...

[Max Power]

Tverdosky (sp)
7 M / 2 years...

Yah that's it... 3.5 a year for a mediocre defensemen who hasn?t suited up in the NHL for 3 years is one of the worst signings this year. Who signed him? Yes Carolina. I agree with what he?s saying but its hypocrisy at it?s best

[grim]

http://seattlepi.nwsource.com/hockey/240567_puck14.html

Analysis: Many GMs must slash payroll as NHL season nears
Devils, Leafs are among teams on financial edge

By ROSS MCKEON
SAN FRANCISCO CHRONICLE

Training camps open all over the NHL map this week, but preparation for the start of the 2005-06 season Oct. 5 is not restricted to the ice.

General managers will be busy -- some very busy -- as they try to reduce payrolls before the season begins.

"It's going to be a very interesting month," Sharks general manager Doug Wilson said.

New Jersey and Toronto must bring their payrolls under the $39 million salary cap or be subject to an undisclosed fine. The Devils and Maple Leafs are over the payroll limit, according to information gathered by a leading hockey Web site, tsn.ca.

New Jersey, managed by one of the game's most respected GMs, Lou Lamoriello, has 21 players signed for $43.7 million. Tough decisions await a team that already lost cornerstones on defense and huge figures in the Devils' identity when Scott Stevens retired and Scott Niedermayer signed with Anaheim.

Toronto has $39.2 million committed to 21 players, plus two more undisclosed salaries, and that does not include $5.6 million for Owen Nolan, whose salary is in dispute.

And they are not the only teams on the financial edge. Five others -- Dallas, Colorado, the New York Islanders, Tampa Bay and Vancouver -- are within $3 million of the ceiling.

These teams don't want to be that close because it limits their ability to add pieces as the season unfolds, and all, with the exception of the Islanders, are considered Stanley Cup contenders.

Looking a bit further into the future, more teams could face similar restrictions.

If league revenues don't reach the projected $1.7 billion this season -- down from $2 billion when the NHL last played, in 2003-04 -- the team salary-cap ceiling will drop. Many industry analysts forecast the payroll maximum will fall to about $35 million next season.

In light of that, throw in teams such as Anaheim, Atlanta, Boston, Calgary, Detroit, Los Angeles, the New York Rangers, Philadelphia, Phoenix and St. Louis, all committing $32-35 million in payroll thus far this season.

Suddenly, 17 teams -- 57 percent of the league -- are looking very hard at what they have and considering ways to unload salary.

San Jose, with 20 players signed for $25.1 million, is among a handful of teams with less than $26 million committed for the season, joined by Florida, Minnesota, Pittsburgh and Washington.

A total of 211 players have changed teams. The most active teams in terms of change include Florida (11 additions), Phoenix (11), Chicago (10), Calgary, Minnesota, Philadelphia, Pittsburgh and Washington (all with nine). Teams that added the fewest were San Jose (zero), Buffalo (two) and Edmonton (three).

[leaferfan87]

I agree with Karmanos to the extent that certain GM's maybe overly excited about the new landscape and signing lots of players.

But, I also couldn't help, but chuckle because knowing its the Hurricane owner who is complaining about this.

Unhappy that the old team is still not going to compete, eh?

[KB in Kelowna]

bump
maybe he had a point?

[Amoroq]

Rod Brind'Amour is a fantastic player, but not 5 years at 18 m, he will be 40 when the contract expires. Thats an overspend if ever I saw one, and being a Leaf fan, I've seen my share of overspending.

[KB in Kelowna]

Rod Brind'Amour is a fantastic player, but not 5 years at 18 m, he will be 40 when the contract expires. Thats an overspend if ever I saw one, and being a Leaf fan, I've seen my share of overspending.

Hey Amo, when was the last time an NHL owner said one thing and did another? :rolleyes:





I know IRELLEVANT!What ever happened to him anyways?