The dynamics in Ottawa have changed. New ownership. Various figures around the country (TV and print media) have said that the Senators as a hockey operation were viable. Not as rich as the Leafs of course, but not losing money. The downfall to the Sens was their debt from the Corel Centre (220-240 million) and the highway reconstruction (approx. 25 million due to the province) was bringing them down. That was enormous amount in interest alone bringing the hockey side down. With last years bankcruptcy Melnyk was able to buy the whole kit and kibutle (Sens and the arena) for about 130 million CASH - no loan, no payments, no interest. This has relieved the Senators from about
15-20 million payments a year in interest alone. I am not an economics specialist but perhaps someone here could validate the savings. Add in the fact that attendance has increased this year about 8% which puts in another 3-4 million in the coffers of the Sens makes the dymanics very different than last year. Eugene could be paying out of his pocket (I doubt that though), but it is not nearly as much as you may think.
scubadoo - was the 12-14 million set aside the amount after Redden was signed or did Reddens contract dip into that amount?