Canadian clubs drink in riches as loonie rises (Montreal Gazette)
From The Montreal Gazette:
By Pat Hickey:
The soaring Canadian dollar - which is actually a sinking U.S. dollar - is a bonanza for George Gillett Jr. and the other owners of Canadian NHL teams.
For Canadian owners, the situation is a boon because they no longer pay exorbitant exchange rates. In 2001-02, the team's payroll was about $41 million U.S. but, with a dollar around
65 cents, it cost the Habs more than $57 million Canadian with the exchange.
http://www.canada.com/montrealgazette/news/sports/story.html?id=cf5bd082-61e9-4db1-a265-f88972ef0294
By Pat Hickey:
The soaring Canadian dollar - which is actually a sinking U.S. dollar - is a bonanza for George Gillett Jr. and the other owners of Canadian NHL teams.
For Canadian owners, the situation is a boon because they no longer pay exorbitant exchange rates. In 2001-02, the team's payroll was about $41 million U.S. but, with a dollar around
65 cents, it cost the Habs more than $57 million Canadian with the exchange.
http://www.canada.com/montrealgazette/news/sports/story.html?id=cf5bd082-61e9-4db1-a265-f88972ef0294
posted by eric model | 4:37 AM
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