The NHL has reportedly borrowed a ton of money during the coronavirus pandemic.
The NHL is currently playing games during the ongoing coronavirus crisis, but it sounds like the league might be in a bit of financial trouble. (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
BizJournals.com reported the following on the situation:
The NHL has raised around $1 billion in new debt on the private placement market, and the league is using the capital to create a central facility from which each of its clubs can draw up to $30 million to address cash-flow issues, payroll costs and other operational expenses amid the coronavirus pandemic, sources have told Sports Business Journal.
It sounds like the NHL has a problem on their hands if it’s pulling together a $1 billion so that teams can keep paying the bills.
Of all the sports hit hardest by fans not being around, you have to imagine the NHL is right at the top of the list.
The sport thrives off of packed arenas.
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The reality of the situation is that while the NHL is a major four sport in America, it doesn’t have the TV audience that the NFL, NBA and MLB do.
I might be an NHL fan, but that’s simply the reality of the situation. The league needs fans in the stands more than the other major sports. The fact the stands are empty is a major negative.
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Hopefully, the NHL can weather the storm and get to the other side stronger than ever.