The Loonie Is Driving NHL Players Crazy
The pronounced weakness of the Canadian dollar results in less pay “There is definitely pain being felt and more pain to be felt”
The NHL has a loonie problem. The Canadian dollar fell to 68¢ last month against the U.S. dollar, a 13-year low, and analysts think it could drop an additional 13 percent in 2016. The weakened state of the currency may cost the NHL hundreds of millions of dollars in lost revenue.
The NHL does all its business in U.S. dollars, and all players are paid in greenbacks. The league also