Someone asked a question earlier today (Jeff, it's your favourite person) about the Loonie versus the USD. Basically, the answer was the current CBA wouldn't allow players' contracts in CAD. Now, hypothetically, if the CBA was to end today, can the players have contracts in CAD until the next CBA? At least on the offer table?
I know this would cause all sorts of confusion once a certain monkey is out (don't want to get politics in here) and the USD would be dominant again. But, again, hypothetically speaking.
2007-11-05 10:42:47 · 4 answers · asked by Anonymous in Sports ➔ Hockey
The 1994 CBA was the CBA that adopted the US Greenback as the league's official currency. Prior to that, Canadian clubs had started paying players in US Dollars as that was/is the currency in which the league operates (Doug Gilmour's contract with Toronto prior to be traded to New Jersey was one of the final contracts in Canadian dollars).
- all television revenue is in USD (including canadian networks)
- all sponsorship revenue is in USD
- most merchandising revenue is in USD
So, as long as that is the status quo, the NHL and NHLPA would like to avoid Bob's accounting nightmare..............unless of course..............Bob is an accountant.
To answer the question, the current CBA expires after the 2011-2012 season, although the NHLPA has the right to re-enter negotiations after the 2008-2009 season if they don;t feel it's working.
2007-11-05 13:02:21 · answer #1 · answered by Like I'm Telling You Who I A 7 · 1⤊ 0⤋
Actually, it used to be that Canadian teams paid their players in Cdn dollars and U.S teams in U.S dollars until not all that many years ago-can't remember exactly.
The dollars fluctuate so much that it would be a risk anyway, kind of like taking out a floating mortgage or something. Also, all dollars are measured compared to the U.S dollar so I don't see it making sense.
It still works out the same regardless of what dollar you use- 52% (or 54%-whatever it is) of revenues goes toward salaries and that is also measured in U.S dollars so the NHL would say fine- we pay you in Cdn. $ but revenues are now calculated in Cdn. $ so it would make absolutely no difference except an accounting nightmare for the payroll department.
2007-11-05 11:55:54 · answer #2 · answered by Bob Loblaw 7 · 2⤊ 0⤋
Even though the main reason for the high loonie is oil, which isn't going to run out any time soon, I don't see it staying at $1.08 for too long. I hope not, anyway. I can't see the 24 US based teams willing too pay a premium any time soon, so I don't see them adopting the loonie as the currancy of choice for players salaries.
2007-11-05 11:38:29 · answer #3 · answered by cme 6 · 2⤊ 0⤋
The NHLPA replaced into questioning of reopening the settlement yet with the main present day turn in the financial equipment they are taking 2nd innovations. greater ideal the devil you comprehend then the angel you do no longer springs to innovations. establishing the settlement up potential that permitting the league to place reins on the fool proprietors returned. greater ideal to enable the 30 rampant egos combat between themselves than to grant them a uncomplicated enemy.
2016-11-10 09:26:40 · answer #4 · answered by ? 4 · 0⤊ 0⤋