Isles Live Beyond Their Means

The Post has a really interesting tidbit that isn’t about the lockout, but actually might be about the lockout.
You know.
If you read between the lines.
Or read the blog that reads between the lines.
That would be PuckUpdate, by the way.
The Islanders are trying to work out a deal to fix up the decrepit Nassau Coliseum. No big deal, right?
Wrong.
Wait until you read this part:

    “More important for the Islanders would be ripping up the existing lease on the Coliseum with SMG, the company that owns and maintains the building. That lease, which expires in 2015, has been a hemorrhage to the team’s financial books because they pay such a high percentage of ticket, parking and concession income to SMG and thus cannot turn a profit no matter how many games they sell out.”

So the Islanders, who are part of a league that locked out their players because of so-called extreme salaries, use an arena that makes it impossible for them to make money. They could have a cap of $3 million and they would probably still lose money on their arena lease. Would you live in an apartment you couldn’t afford? Of course not. So why rent land you can’t afford?
It’s not the players. NHL finances are messed up because of horrible business decisions.