Friday, April 18th7.0°C
21417

With NHL revenues tied closely to Canadian dollar, Bettman keeps eye on it

PEBBLE BEACH, Calif. - Gary Bettman knows the value of the Canadian dollar affects the NHL a lot, so he keeps a close eye on it.

"I watch it every day," the commissioner said. "It pops up on my computer screen."

Bettman listed the Canadian dollar as one factor that affects next year's salary-cap estimate of roughly US$71 million that he delivered to the league's board of governors.

As of Monday, the exchange rate was about 94 cents. Bettman said he saw reports recently about it going down to 93 cents on the U.S. dollar and was not surprised by that.

"It's something we monitor, obviously, and sometimes we do some hedging," Bettman said. "We're not just sitting there saying, 'Oh, isn't that interesting?' We try to deal with it."

There's some speculation that the Canadian dollar will dip even further, perhaps below 90 cents. That's nowhere near the historic low of almost 62 cents in 2002, but that could negatively affect the NHL's long-term TV deal with Rogers and other business aspects.

Bettman said the league is prepared for the fluctuations.

"The system takes that into account because we convert to U.S. dollars to give us some consistency," he said.

___

Follow Stephen Whyno on Twitter at @SWhyno.

The Canadian Press


Read more Business News

20304


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA16408.54-16.31
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.9071-0.0013
Gold1293.80-9.2999
Oil104.59+0.83
Lumber326.10-2.70
Natural Gas4.735+0.205

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 
19691


21297

FEATURED Property
18881661/2 DUPLEX w/Ground Level Suite in KELOWNA, BC
$349,000
more details
image2
Click here to feature your property
Please wait... loading


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...

_



21368

21604


Member of BC Press Council


21188