Two rounds of home games could halve the deficit, Lightning CEO Tom Wilson says.
By DAMIAN CRISTODERO
Published March 26, 2004
TAMPA - Tom Wilson joked it would take income from six playoff rounds for Lightning owner Palace Sports & Entertainment to get its Tampa operation into the black.
But the CEO said Thursday if the team plays two rounds of the four-round Stanley Cup tournament, a projected $10-million loss could be cut to $5-million.
"Everything has to fall into place," Wilson said. "It depends on how many games you play. Is it a four-game series or a seven? Big difference. Are you the home team or the road team? A big difference in that. But you can cut it in half if things go well."
Things have been going well for the Lightning at the gate. It recently sold out a franchise-record seven consecutive games and is averaging 17,639 at the 19,758-seat arena, about 1,100 more than last season.
And while Wilson said that shows the team and organization have earned respect in the bay area, the real payoff from that comes next season.
"More people come out, and maybe they buy five tickets or maybe they buy a 10-game package or jump to season tickets," Wilson said. "And maybe you can see the light at the end of the tunnel."
Wilson said that light is the break-even point. Palace Sports says it has lost about $50-million since buying the team and the St. Pete Times Forum lease in June 1999.
"So if you break even, you're happy," he said.
Wilson said the team's continued financial growth is not a one-way street.
"We don't mind leading the charge, but at this stage, it's got to be fans and team together," he said. "We don't mind paying X amount of money and losing some money, but you need the fans coming in so you can manage it. If we do it together, payroll goes up, attendance goes up and the gate goes up and we do it together.
"We're still not going to come out of the year making money, but right now, I don't think anybody cares. Right now, it's how far can this team go? How much fun can we have? And how many people can come in here and share this with us?"
