Money Crunch: Pierre McGuire Believes We “Will See Some Teams That Will Be Sold”

Photo by Christian Petersen/Getty Images

Financial woes continue for NHL teams, with no near-term relief in sight. Last week reports began to surface that several teams were late in paying player bonuses, with The Athletic’s Katie Strang specifically reporting that the Arizona Coyotes were late in making a few such payments.

On Friday, Pierre McGuire told TSN690 that he felt there were a few teams that are having issues paying players their bonuses.” He even mentioned that fans should expect a few teams to be sold.

McGuire reiterated his financial concerns last week during one of his regular morning hits on TSN1200.

I’m going to caution everybody, these are way different times in the National Hockey League, and you’re just starting to see just a little ripple in the water. This is going to be a very different time financially for the league, and for a lot of member clubs in the league. I’m just telling you. The stories haven’t broken yet, but this is going to be a way different time for free agents, be a way different time for established players.

“You’re going to see some major cost-cutting around the National Hockey League, major, major cost-cutting. There are people writing stories now about this team laying off these people. You’re going to see a lot more. It’s going to trickle down to player’s salaries. This is a very different time in this league. It’s not getting enough exposure right now. I completely understand because of the playoffs. No one really wants to talk about it.”

What this all means for this year’s batch of free agents is yet to be seen, but we are already beginning to see teams shed player payroll.

By Jon Sorensen

About Jon Sorensen

Jon has been a Caps fan since day one, attending his first game at the Capital Centre in 1974. His passion for the Caps has grown over the decades, which has included time as a season ticket holder, social media and community organizer, and most recently led to the founding of NoVa Caps in 2014. Jon earned a Bachelor's of Science in Engineering at Old Dominion University, and is a Systems Engineer during intermissions, which has been instrumental in supporting his Capitals habit.
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