• Maverick

    Should have been a middle ground. I care that they are losing money but not enough to lose sleep over it. I don’t think they have sustained loses quite that significant. They have one of the richest/better owners in the league who is not entirely interested in the team’s profit margin.

  • Goon Squad

    That’s kind of a tough question to answer. I care that a team in a major market is struggling post-lockout when they really shouldn’t be. I care in that I’m concerned about the state of this franchise and the NHL in general. I don’t however feel sorry for them. So, in that regard I guess you could say I don’t care to hear them cry. And I don’t care for their spin control. They are the ones who don’t care. They don’t care if the fans are pissed. They don’t care if their pricing schemes are transparent. They frankly don’t care if I decide not to come out to any games this year. They’re going to lose money anyway, and they seem to have this convoluted cart/horse theory of acting and pricing like a winner before they are a winner. Hope it works out for them…I’ll be watching from home.

  • kynen

    Do I care? – Yes
    Do I believe they are losing as much as they say they are? – No

  • Matt George

    I gotta agree with Goon on this one.

    I commented over on the “round table” post but I just have to say over here that …the more I think about it, i’m just about to explode whenever I think about the fact that they raised my season ticket prices by 400 bucks!

    I spent so much money last year on beer alone! I cant go to the game and not have at least three…. so that’s…what 36 bucks in beer for me alone? (not to mention the fact that the wife almost keeps up with me) times 40 games plus parking and stuff.

    I guess I care because I feel like i’m consistently being LIED TO.

    I also don’t believe in charging the customer for a Porsche and then handing them a Ford.

    Like goon said, Hope it works out for them. They didn’t just lose my season tix this year but my alcohol problem as well.

  • MstrB

    I am curious on how the financials are done to show the loss, specifically what costs are leading to the loss. I had a family aquantance who owned a professional sports team that managed to lose money or break even on the books most years, yet the team value doubled in the period of time between purchase and sale.

    As far as concessions go, I was ticked about that untill I realized that the increased price of concessions is covering the difference between the value of the ticket and what the ticket is actually sold for. This is because the ticket prices are set to maximize attendance and ticket sales revenue.

  • Rocky

    Yes I care, but enough to spend a lot of my discretionary income on a losing team. Nachos Camacho, large soda, parking, gas & tickets prob cost well over $100 a game now not to mention at least 2.5 – 3 hours travel time. I did not have season tickets but I usually picked up 10 – 20 games a year. I could not justify doing that last year or the year before for a team that did not show up at times.

  • Tito Jackson

    Compared to what the Galaxy is dropping on their teams salary for one player, no.

  • Clippers of the NHL

    I don’t care that the team raises prices on things because I don’t have a vested financial interest in it. I don’t share in the profits, I don’t write-off any of their losses. I also don’t pay to go to games or buy team paraphernalia anymore. What I do have is a 31-year investment in time and emotion.

    So no, I’m pretty sure I couldn’t care less whether they’re profitable. I have no problem saying that because I virtually DARE Anschutz & Leiweke to move the team. Most other teams would be considering it if they weren’t profitable in a town for as extended a period as they CLAIM to have been. Doesn’t say much for your organization when you can’t make money with a high profile business in the 2nd largest populated city in the richest country in the world when you own the building you play in, the land that it’s on, can negotiate all the contracts with the concessions and parking.

    What gets me is how f’n stupid they think we are. I think we can make a proper assumption that people who can afford good season seats have a good size disposable income, and in most cases, didn’t come by the money they spend on Kings games by accident. They’re smart people. They know what the shot is when they are told by company execs (with questionable business acumen & background) that “They don’t totally control the parking prices” of lots that surround multiple large scale buildings owned by the same man who owns part or all of two of the teams that play there. Apparently Ronnie and Luc took too many pucks to the head when they played.

    Sometimes I wonder if Phil Anschutz is actually a Kaiser Soze-Like figure… ya know, like one of Donald Sterling’s alter egos. He sure manages this team the same way Donald Sterling manages his (more like a tax write-off than a winning sports franchise).

  • PSP

    Rich, your question needs a little work.

    I care that the Kings claim to be losing more money than ever because the statement alone demonstrates that AEG/Kings management can make ludicrous claims and they expect the fan base to accept them without question.

    I don’t care that the Kings claim to be losing more money than ever before because it simply isn’t true – and even if it was true, as a fan, why should I care?

    Which way should I vote?

  • Irish Pat

    If the Kings were perennial Stanley Cup contenders and they were still losing tons of money I would be surprised and worried that they might move. But since they continually lose and gut my wallet year after year I honestly could care less. If Lombardi’s plan doesn’t work, AEG has to sell the team. It’ll be the right thing to do.

  • brianguy

    “just the facts, and do you caaaaaaaaaaare?”

    – credits to “Cheap Seats” on ESPN Classic

  • brianguy

    last year was the first season I really paid out a lot for tickets, and since it was probably the worst the Kings have finished I didn’t get anything much in return. now they want more… moooooore?!

    I’m excited about the young kids on our team and Dean seems to have the right plan but in the meantime how much do they expect us fans to bleed. the sales rep can’t guilt me into buying the same ticket package this year after what happened last season. I filled out their survey and told them why not (luckily they had all the correct checkbox options so I didn’t have to write a long diatribe).

    I’m an IT guy but I work in finance and enjoy numbers. I know they are cooking the books, it’s not even a question — if there isn’t any revenue from concessions or parking on their income statement or balance sheet something is clearly wrong. sure ticket prices have to go up marginally sometime but how much is too much? gas prices are insane and people are hurting right now. I just heard today the average American pays over $1200 extra a year to fuel up their car – that much of an increase in just one year. besides, a little extra revenue from tickets isn’t going to magically get them out of the red that they claim they’re in. also the point MstrB made about franchise equity was spot on. the best thing for these owners to do is the second this team makes the playoffs, sell the team because then they won’t have to be burdened anymore and the value will be such that they’ll have maximized their ROI.

    bottom line I’ll still go to a few games and I’m not any less of a fan because of their shoddy finish last season. I’ll just enjoy watching them at home on a flat screen I will buy with all the money I’ve saved.

  • Anonymous

    It seems like you covered this question a couple of weeks ago, but for the record, I care more about a winning team than AEG’s financial statement.

    I don’t think billionaire owner Philip Anschutz is hurting too badly. It’s too bad that he doesn’t care about fielding a winning team. He really needs to sell the franchise, like yesterday, to someone who is actually committed to winning.

    If the Kings are really losing all this money with the crappy product (including coaching staff) they’re putting on the ice, then imagine how much money they would lose if they had some really good players on their roster!

    Finally, I don’t believe Kings Management for even a nano-second when they claim to be losing more money now than before the lockout!!

  • metalmaster

    My question is why are they losing money? To me they
    draw much better crowds than most other non-playoff
    NHL teams and do not have a huge payroll compared to
    other teams.If they are hurting so much maybe signing
    Blake to 12 million dollar deal was a mistake as well
    as a few other questionable signings.To me this is a
    managememnt problem and they should be able to solve
    it without raising prices when the actual product on
    the ice does not warrant it. They are raising prices
    to cover up for their own mistakes when in reality
    they are possibly the best supported bottom feeder in
    all of the NHL.

  • Daniel

    I agree with BRIANGUY – the Kings are cooking the books. Like I mentioned a few weeks ago, it’s like that old Hollywood saying; “There are the books people see, there are the books people don’t see, and then there are the OTHER books.”

    They can say what ever they want because we have no access to confirm or deny their statements. So, no, I don’t care. Winning will help the money issues. LA loves winners.

    What I am more concerned about is the NHL and the TV deals. So sad to think back to 1998 when ESPN reclaimed the broadcast rights from Fox. The deal was worth something like $600 million.

    Also, notice how many Dodger games are in HD on Primeticket? How many HD broadcasts did the Kings have? 10? And hockey, of all the sports, needs HD. There are so many opportunities that HD/wider viewing surfaces affords but it seems the NHL is not taking full advantage.

  • Anonymous

    saw this posted elsewhere. it’s Piston’s report from when AEG let him look at the books several years back. crying poor then, doing the same now.

    Pistons report without his analysis and opinions

    (Fact) The Los Angeles Kings Hockey Club will lose $12.5 million this season. Since the current ownership group purchased the team, losses have totaled $108 million. These losses are computed on a free cash flow basis, do not include paper losses and are made up out of the team owners pockets. Staples Center is profitable but not by enough to offset losses by the Kings. Anschutz Entertainment Group does not earn any income from its ownership of the Kings. Intra-company transfers are minimal and entirely proper.

    1) The Finances The LA Kings lost $6.5 million in operating cash over the 2001-2002 season. When one adds losses from financing such as interest payments and deferred compensation, the losses escalate to $11.3 million last season. With the failure of the team to reach the playoffs this season as well as the constant stream of injuries which necessitated an unexpected number of minor league call-ups, total cash losses will approach $12.5 million in 2002/03. These losses are computed on a cash only basis and do not include any depreciation or amortization of previous capital expenditures. Total cash operating losses for the Kings during the AEG ownership era are $108 million. Looking at other portions of the AEG business empire, Staples Center is profitable, but only marginally so after making a significant debt service payment on the $315 million in debt held against the facility. Given that AEG ownership percentage of Staples Center is lower than that of the Kings, these profits are insufficient to cover the cash losses of the hockey team. Anschutz Entertainment Group does not earn any income from the Kings. For an excellent background on AEG, I would refer readers to the webpage http://www.barnburners.com/news/02/mls/0227.html.

  • lakings173

    360 Votes in 1 hour. The traffic to this site must be intense.

  • KingFan4ever

    it’s simple really. Bad product = Bad business. It’s no one’s fault other than AEG and Kings management.

  • Vorname

    Well…they DID waste 3.1 million on a goaltender that chokes worse than Mama Cass while attempting routine saves…

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