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October 25, 2010
The Hockey News has been providing the most comprehensive coverage of the world of hockey since 1947. In each issue, you'll find news, features and opinions about the NHL and leagues across North America and the world.
EASY COME, EASY GO?
TO THE ORDINARY JOE, an NHLer’s yearly salary would be like a lottery windfall, which is why it’s so difficult for fans to relate to players whenever finances are discussed. But whether or not fans want to hear it, the riches earned by elite players can disappear as quickly as they arrive. To prevent that from happening, high-end money managers who deal with NHLers – and in one case, who was an NHLer – identify five key financial decisions players make that can lead to future distress: Mistake 1: Allow All Those Zeros To Warp Your Sense Of Reality The first time an NHL player lays his eyes on a biweekly check and sees upwards of five figures, there’s a temptation to throw it at whatever personal interests or vices he might have. Wrong…
Dallas
TOM HICKS has made a fortune by taking risks, but his sports empire is crumbling because he misread the economy. Hicks purchased the Dallas Stars in 1995 and turned them into one of the top franchises before buying MLB’s Rangers. Then he partnered with former Canadiens owner George Gillett to purchase Liverpool FC of the English Premier League. But Hicks defaulted on $525-million worth of loans for the Stars and Rangers and now can’t get financing to build a new Liverpool stadium. The result is he has lost the Rangers to bankruptcy, the Stars are for sale and is barely holding onto Liverpool – he’s disputing a sale accepted by the club’s directors.…
Vancouver
A LOT WAS made of Mike Gillis having just agent experience when the Canucks named him GM two summers ago. Gillis, though, saw running a small-but-lucrative agency as perfect preparation. In addition to connections in hockey and knowing what free agents found desirable in a team, his livelihood depended on picking the right players at a young age, then helping them reach their full potential (and earning power). “When you run your own business you have to be conscious of budgets, planning and expenditures, and that is very helpful in a job like this,” Gillis said. “But it is more the totality of experience: playing in the league, then going to law school and working as a lawyer, all those elements prepare you and they’ve all been helpful in their own way.” After…
GOLDEN PROSPECT
IDENTIFYING THE BEST NHL prospect in the WCHA is like picking the most iconic photo snapped by Ansel Adams. Good luck with that. Half the schools in the newly expanded 12-team league have at least one player selected in the first round of the NHL draft. In all, there are 15 players spread across six programs chosen among the top 50 in their draft years. Any conversation about the prospect that will transition best from the WCHA to the NHL is going to be long, intense and fluid. But right now, based on conversations with scouts and coaches, the guy who stands out is Nick Bjugstad, the 18-year-old freshman center at Minnesota who was chosen 19th overall by Florida in June. He tops a list that includes, but isn’t limited to, Denver winger Beau…
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