Oilers lose third period heartbreaker after Dallas crushes momentum
Fans were shattered in Ice District Plaza after the Oilers blew a two-point lead and Dallas scored five goals in the third period. Both teams are hungry in the familiar matchup after the Oilers beat the Dallas Stars in six games last year. Emily Williams has the fan reaction to the stunning loss.
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Globe and Mail
9 minutes ago
- Globe and Mail
Stanley Cup pursuit reignites debate about taxes on player salaries
There's been a lot of talk in the sports media recently about whether professional athletes prefer to play for teams located in low-tax jurisdictions. The chatter has begun around NHL circles because if you look at the past five Stanley Cup winners (2024: Florida, 2023: Vegas, 2022: Colorado, 2021: Tampa, 2020: Tampa) three of the four teams reside in locations where there's no state income tax. The NHL has had a salary cap since the 2005-06 season that limits how much each team can spend on player salaries ($88-million for the 2024-25 season) and doesn't account for tax differences between jurisdictions. There are currently six teams that reside in states with no personal income taxes: Florida Panthers, Tampa Bay Lightning, Dallas Stars, Vegas Golden Knights, Nashville Predators and Seattle Kraken. Now, the NHL will deny that taxes make a difference when players choose a team. This week, Commissioner Gary Bettman called it 'a ridiculous issue.' In his conversation with some former players on the U.S. TNT television broadcast, he said 'when you played … you wanted to go to a good organization, in a place where you wanted to live … with an owner and an organization, a GM and a coach, that you were comfortable with; and you wanted to have good teammates so you'd have a shot at winning.' Cathal Kelly: Despite NHL commissioner Gary Bettman's denials, differing taxes are a growing problem for hockey In some ways, it's hard to argue with Mr. Bettman's comments. There were many years when Florida and Tampa were not very good – and no one was complaining then that their players had an unfair tax advantage. Looking at the NHL standings from this past regular season, Seattle was 27th and Nashville was 30th out of 32 teams. Nevertheless, the math is interesting. Here's a look at it. The math Consider a good NHL player earning US$8-million annually (all figures in U.S. dollars). If he plays in Edmonton, he'll pay $3,811,256 in taxes, keeping just $4,188,744 for himself for an effective tax rate of 47.6 per cent. If he plays in Toronto, he'll pay $4,250,676 in taxes and will keep $3,749,324 for a tax rate of 53.1 per cent. (I've converted the salary to Canadian, calculated the tax, then converted the after-tax number back to U.S. dollars so we can compare to U.S. teams). Put that same player in a Florida Panthers jersey and he'll pay $2,912,784 in federal (not state) income taxes, plus $196,653 in FICA taxes (which are equivalent to our CPP and EI contributions but are much higher) for a total of $3,109,437, leaving $4,890,563 in his pocket. This is an effective tax rate of 38.9 per cent. So, a Florida player earning the same $8-million salary will take home $701,819 more every year than an Edmonton Oilers player, and $1,141,239 more than a Toronto Maple Leafs player. Over a five-year contract, this can be about US$3.5- to US$5.5-million more in the player's pocket after taxes. An extra US$5.5-million invested at 6 per cent annually can provide an annual income to the player for 50 years, starting at age 35, of US$195,000 after taxes annually, indexed to inflation at 2.5 per cent each year. You don't think that can make a difference in a player's decision when these guys have such short careers? Further, a research paper written by Erik Hembre of the Department of Economics at the University of Illinois at Chicago calculated that a team's winning percentage does in fact decline by about 0.60 per cent with every percentage point increase in income tax rates. Interestingly, the research showed that the relationship between tax rates and winning didn't exist before free agency. Only after teams competed for players in free agency could players shift the tax burden onto teams. The ideas To make things fair, some adjustments should be made to allow for equalization between teams based on taxes. Simply bringing in a system where teams could exceed the salary cap if they pay a luxury tax would help to maintain competitive balance. The NHL could also start with the hard salary cap figure and apply the highest marginal tax rate in the jurisdiction to the cap so that each team has an equal after-tax salary cap to work with. For example, take the player earning US$8-million. In Florida, his take home pay would be US$4,890,563. In order for the player in Edmonton to take home the same amount after taxes, his gross salary should be US$9,333,136. Apply this to each player on the roster, add them up, and you'll have a tax-adjusted salary cap. I'm a Leafs fan. So, I can say (maybe a little tongue-in-cheek) that I'm happy to blame the NHL's bad salary-cap structure, and our government's high tax rates, for the lack of a Stanley Cup since 1967. Tim Cestnick, FCPA, FCA, CPA(IL), CFP, TEP, is an author, and co-founder and CEO of Our Family Office Inc. He can be reached at tim@
CTV News
2 hours ago
- CTV News
Crown continues closing submissions in hockey players' sex assault trial
A composite image of five photographs show former members of Canada's 2018 World Juniors hockey team, left to right, Alex Formenton, Cal Foote, Michael McLeod, Dillon Dube and Carter Hart as they individually arrived to court in London, Ont., Wednesday, April 30, 2025. THE CANADIAN PRESS/Nicole Osborne Warning: This story contains graphic details and allegations of sexual assault Prosecutors are expected to continue their closing submissions today at the sexual assault trial of five former members of Canada's world junior hockey team. Prosecutor Meaghan Cunningham argued Wednesday that Michael McLeod invited his teammates into his London, Ont., hotel room for group sexual activity without the complainant's knowledge or consent, which she said paints the evidence of all other witnesses in 'a very different light.' Cunningham argued the woman did not voluntarily agree to the sexual acts that took place in the early morning hours of June 19, 2018, nor did the players take reasonable steps to confirm her consent. Consent is a central issue in the trial, which began in late April. Michael McLeod, Carter Hart, Alex Formenton, Dillon Dube, and Callan Foote have pleaded not guilty to sexual assault, while McLeod has also pleaded not guilty to an additional charge of being a party to the offence of sexual assault. Defence lawyers made their submissions to the judge earlier this week, taking aim at the complainant's credibility and reliability as a witness and arguing she actively participated in the sexual activity that night. If you or someone you know is struggling with sexual assault or trauma, the following resources are available to support people in crisis: If you are in immediate danger or fear for your safety, you should call 911. A full list of sexual assault centres in Canada that offer information, advocacy and counselling can be found on the website for Ending Sexual Violence Association of Canada. Helplines, legal services and locations that offer sexual assault kits in Alberta, B.C., Saskatchewan, Manitoba, Quebec, Ontario and Nova Scotia can be found here. National Residential School Crisis Line: +1 866 925 4419 24-hour crisis line: 416 597 8808 Canadian Human Trafficking Hotline: +1 833 900 1010 Trans Lifeline: +1 877 330 6366 Sexual misconduct support for current or former members of the Armed Forces: +1 844 750 1648 Read about your rights as a victim here.
CTV News
3 hours ago
- CTV News
Montreal Grand Prix fans stuck paying turbocharged prices for accommodation
Ferrari driver Charles Leclerc of Monaco, right, and Mercedes driver Lewis Hamilton of Great Britain steer their car at the hairpin during the first practice session, Friday, June 7, 2024, at the Canadian Grand Prix in Montreal. THE CANADIAN PRESS/Jacques Boissinot Paula Wadden has been a huge Formula One fan ever since she got hooked on the Netflix show 'Drive to Survive' a few years ago. But the Halifax-area health-care worker says watching the Grand Prix in Montreal this weekend comes with high-octane prices. The Montreal hotel where she's spending the first part of the week doubles in price for the weekend. Instead, she'll spend the weekend at a hotel outside the city, near the airport, for about $600 a night. 'The tickets (prices) are OK, it's the accommodation and the means that are getting expensive,' she said Tuesday in Old Montreal. 'I don't know how the average Joe can afford it.' Wadden said the trip, which she's taking with her daughter and her daughter's partner, will cost $6,000 to $7,000. And that's despite the switch in hotels and the decision to save money by driving the 12 hours from Halifax rather than flying. While looking up hotels online, she said she saw even more eye-watering hotel prices ranging between $1,200 to more than $2,000 a night, as well as $4,000-per night Airbnbs. The Grand Prix is Montreal's biggest tourist event, expected to attract some 350,000 visitors and generate $162 million for the city, according to the head of Tourisme Montreal. Yves Lalumière estimates average hotel room prices on Grand Prix weekend at $600 to $800 per night — although some wealthy CEOs will pay $8,000 for a suite. 'This year's prices will probably stabilize quite a bit, maybe a two to three per cent increase over the previous year,' he said in an interview. 'But the last five years I've seen an increase year after year, and a substantial increase as well.' A ticket package for the three race days starts at $360, according to the Canadian Grand Prix website — though well-off fans can pay much more. Packages with perks such as VIP concierge service, reservations at popular restaurants and parties, and access to areas like pit lanes and paddocks can cost tens of thousands of dollars. However, Lalumière noted that the city also offers plenty of free entertainment, including a Grand Prix party on Crescent Street. He said hotel room prices are still 'very competitive,' especially for those paying in U.S. dollars or euros. Crowds, meanwhile, are not only growing but also becoming more diverse, he said. 'I think F1 has done a great job in selling the sport over the media,' Lalumière said. 'And, therefore, now you're attracting a lot more ladies, you're attracting a lot more young people as well to the race.' Black-and-white checkered banners were already fluttering on Saint-Paul Street in Old Montreal on Tuesday, as tourists lined up to photograph a Formula One car on display outside Max Bitton's racing-themed store, Fanabox. Bitton said he brought in the car as a gift to fans after last year's Grand Prix, which was marred by mishaps on and off the track that left a bad taste in some fans' mouths. Those issues included traffic headaches, flooding from rain, fans turned away from a practice session they were led to believe was cancelled, and restaurants ordered to suddenly close their patios on one of the busiest evenings of the year. 'I'm trying to give back because last year was so tough,' Bitton said. While Grand Prix fans are generally well-off, Bitton also worries about rising prices, especially now that the city has imposed tougher new rules on short-term rentals for primary residences. Next year, the Grand Prix will be held from May 22 to 24, which is outside the June-to-September window in which primary residence rentals are allowed. 'A lot of the fans love to flock here because of the heritage and they love this place,' Bitton said. 'They're willing to pay more but at some point it doesn't make sense.' At Bitton's store, tourists said attending the Grand Prix was costly, but worthwhile. Max Harrison, from Bournemouth in southern England, said he managed to find a spot in a hostel for about $40 a night early in the week. For race weekend, he's spending $200 a night to stay in a room in an Airbnb shared with several others. 'It's a bit much, you can tell they've spiked (the prices),' he said. He believes the Netflix show Drive to Survive has brought new fans to the sport, which means prices will only continue to go up. But for him, it's worth it to check the Montreal Grand Prix off his bucket list. 'The championship this year is looking really close, so it's going to be a really good race,' he said. 'And Canada is a beautiful place and I've always wanted to come.' Denise Beevor and Mark Omerod, from West Sussex in England, say they're spending 'a small fortune' for a 10-day trip that includes Sunday's race as well as stops in Quebec City and Mont-Tremblant. 'I think, particularly since COVID, it's important to have things to look forward to and to take memories away with you, and you can't replace that,' Beevor said. 'Possessions come and go, memories don't.' The CEO of the greater Montreal hotels association said the occupancy this weekend is expected to be around 90 per cent, similar to last year. Dominique Villeneuve said the industry was prepared to meet the demands of Grand Prix weekend 'enthusiastically and with the same professionalism that characterizes our industry.' This report by The Canadian Press was first published June 12, 2025.
