One middle-of-the-road ticket for a San Jose home game: $83
(Or two VIP glass seats, if you’re fancy: $192)
Parking at HP Pavilion: $15
One beer: $10
Nachos (I MUST. EVERY TIME.): $9
Total: $117 (or for moneybags, $309)
17,562 (HP Pavilion’s capacity) x 117 = 2,054,754
2,054,754 x 43 (home games per season) = $88,354,422
Hey guys, the Sharks sold out every home game last season and still lost money. And guess what? The owners don’t care.
Now, I realize it’s more complicated than they made more than $88 million dollars last season. That’s just a gross profit: It doesn’t take into account salaries (players, coaches, office staff, arena staff, etc.), maintenance, other business related expenses that I can’t even think about wrapping my head around.
But according to David Pollak over at the San Jose Mercury news, the team lost $15 million dollars last year. No big deal!
Pollak quoted one of the members of the Sharks’ ownership group:
“We’re OK with that because that’s a decision we’ve made to stay competitive,” said Kevin Compton, referring to the fact his team’s player payroll bumped up against the NHL salary cap.
The Sharks do things a little differently, as instead of having one president or CEO the team is owned by 11 individuals and run by six executive vice presidents. Kevin Compton and Stratton Sclavos, though, seem to be the face of the team.
Pollak also mentions that while the team has lost money the last few years, the team isn’t in debt, because the ownership group is covering the cost out-of-pocket.
“We’re a completely liquid organization and so far have continued to fund operations by choice,” Compton said. “This isn’t Phoenix.”
BURN. Is that a knock to previous Sharks owner, Greg Jamison, who is in the process (????) of purchasing the Phoenix Coyotes? I can only hope … I love a sassy ownership group.