Falling Canadian Dollar Hurting Canada’s Pro Sports Teams
Posted on October 31st, 2008 by Carl Vanderpal
The sudden nosedive of the loonie this month and its continuing volatility threaten to wreak havoc with the finances of Canadian sports businesses that face heavy expenses in U.S. dollars, compounding the inevitable woes stemming from any sustained weakness in the economy. Each one cent decrease in the value of the dollar against its U.S. counterpart costs Canadian clubs anywhere from about $400,000 to more than $1-million, depending on the size of their player payrolls and other U.S. costs, a
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