Jewish World Review Feb. 13, 2003 / 11 Adar I, 5763
How can the financially struggling Cablevision bail out another NHL franchise?
http://www.NewsAndOpinion.com | Here's a question for commissioner Gary Bettman to ponder: How can the financially struggling Cablevision bail out another NHL franchise?
It has been a busy week for Cablevision. Merrill Lynch upgraded its stock, the company decided to close its electronic stores in the New York City area and the Rangers made an eight player trade with Pittsburgh with a multi-million dollar payment going to Pittsburgh.
The Rangers have the highest payroll in the nhl and that brings up this question. Who is actually paying the bill to make sure Charles Dolan can keep his Knicks and Rangers well paid while firing electronic store workers? Could Cablevision subscribers be paying Dolan's sports costs?
If that is the case, every politician that has allowed Dolan to operate his cable TV franchises in Massachusetts, Connecticut, New York, New Jersey and Ohio should be reviewing franchise agreements.
Cablevision sold its Bravo cable network and raised its rates in an effort to halt the red ink. So when did Cablevision become so healthy that it was able to send millions to bail out another franchise?
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02/12/03: Selig is undermining sports franchises