Blues Still Searching for an Investor
While the majority of the focus this summer has fallen on what the Blues have done to improve their product on the ice, a huge issue still is hanging over the club’s head – the search for a new investor.
The Post-Dispatch released an article on August 23rd detailing the situation surrounding the team’s hunt for a new investor and the picture isn’t pretty. The situation has been described by those close to the situation as “kicking tires”, meaning no major progress has been made. The economy is certainly not doing the Blues any favors as potential investors may be rethinking their investments at such a tough financial time.
The most interesting aspect from the article the Post released is in regards to ticket sales, stating the Blues have sold out 64 of their last 82 home games at the Scottrade Center. Still, the club has not turned in a profit.
In an effort to make the team profitable, ticket prices have been raised 10% for the 2010-11 season, but most believe this alone will not be enough to put the numbers into the black. Evidently, the team would only really be profitable if it makes the playoffs.
While this situation is not supposed to have an effect on the Blues at this time, it clearly is in the back of everyone’s mind. The Blues have trimmed plenty of money off of their roster from last season and haven’t been a major player for any additional free agents once they snared Jaroslav Halak.
Things may not be desperate at this time, but you can bet if the Blues don’t find an investor soon that the Blues could be in big trouble.