Wild Leip of Faith: Minnesota Wild lose $30 Mil

Wild Leip  of Faith?

One for the money, two for the show, three for the… oh no.

According to multiple sources, Craig Leipold and the Minnesota Wild lost a little over $30 Million dollars last season and continue to fall way below their profit margin after another NHL season was in the books.

Now I know what most of you are thinking. Am I misinterpreting the Phoenix Coyotes or New Jersey Devils for the Wild?

--Absolutely not.

"A little birdie says the Wild lost $30 million during their abbreviated 2012-13 season, and a cash call was made to team investors in February. The Wild paid bonuses totaling $20 million to sign free agents Zach Parise and Ryan Suter."

FYI, the “little birdie” is Charlie Walters, a columnist in the Pioneer Express, one of the twin cities leading newspaper tabloids.

To get back on topic-

It is quite mind-boggling to think that the Minnesota Wild, the undoubtedly number one attraction in the entire self proclaimed “State of Hockey” a.k.a. Minnesota, has turned into a non-profitable money losing franchise year after year?

What? But how? Where is all the money going?

"The Minnesota Wild have to pay $10 million bonuses by Saturday, Aug. 18, to each of the star free agents they signed in July, Zach Parise and Ryan Suter. With those bonuses due, a little birdie says, virtually all of the Wild's 11 limited partners last week agreed to commit to a total capital call of $10 million. Principal partner Craig Leipold is expected to fund the remaining $10 million."

                                                                                                 --Minnesota Wild Executive in response to Charlie Walters 

In my eyes, (and this isn’t because Zach Parise left the Devils) the number one reason for the Minnesota Wild’s current financial situation can only be attributed to the decision of one bonehead… and no it’s not Gary Bettman or the lockout.  The problem is the million-dollar man himself, Craig Leipold, and his terrible decision to give Parise and Suter and immediate $10 million dollar signing bonuses.

After signing Zach Praise and Ryan Suter to matching 100 million dollar mega contracts and then paying them their immediate bonuses, it’s obvious that the Minnesota Wild couldn’t have 
chosen a worse time to push all their chips in financially.

Sure, $30M is an explicit amount of money that a majority of us will probably never see… But having 2/3 of it be in upfront costs to Parise and Suter for signing with your team and hoping to make that  same amount back with future playoff appearances, jersey sales, ticket sales, etc.. just seems a bit moronic to me.

The annual salary of Parise and Suter, then followed by the annual payments of the Backstrom’s, Pominville’s, Heatley’s and the rest of the 20 or so players under contract widely accounts for a majority of the debt as well…