Frostbite Facts

Published on May 21, 2005 under International Hockey League 2 (IHL 2)
Adirondack Frostbite News Release


Glens Falls, NY – In an effort to clear up any miscommunication and erroneous media reports, the Adirondack Frostbite, proud member of the United Hockey League, and its owners, are issuing the following statement.

• FACT – The ownership group has been working diligently and remain committed to securing a long term lease between the city of Glens Falls and the Adirondack Frostbite.

• FACT – The Frostbite have always acknowledged that one year remains on the existing lease.

• FACT – The Frostbite have met every UHL scheduling requirement for the upcoming season and so far has secured 25 of 38 home dates and look to finalize the last 13 dates over the next few weeks.

• FACT – Since the new ownership took over the franchise, on January 24, 2004 the Adirondack Frostbite have lost $655,273.60.

• FACT – The ownership group has not taken a single dollar out in salary or otherwise since buying the franchise.

• FACT – Since the new ownership took over the franchise on January 24, 2004 the Frostbite paid to the city $711,000 to the Glens Falls Civic Center.

• FACT - The Frostbite provided the Civic Center with 52% of their yearly revenue in just 12% of the year. (45 days out of a possible 365 days)

• FACT – The Frostbite believe that the $2 surcharge per ticket was designed and implemented to pay off $100,000, a portion of the previous ownership's debt.

Payment at Lease Signing $ 50,000
2003 – 04 Season (16 games) $ 57,000
2004-05 Season (45 games) $162,000
Total Surcharge Payments to City $269,000

That's $169,000 more that what was in the spirit of the agreement of paying off the previous ownership's debt.

• FACT – This was taken from a Post Star, front page news article dated January 24, 2004,

"SALE INCLUDES DEBT DEAL"

"The new owners of the Adirondack IceHawks will make an immediate $50,000 payment to, in essence, pay off a portion of the previous owner's delinquent debt to the city, Mayor Robert Regan said Friday." "The new owners have also agreed to allow the city to tack on a surcharge to ticket prices, beginning with any playoff games this season, the proceeds of which will initially be used to pay off the remaining debt."

• FACT – On May 16th the city met with the Frostbite and told us after reviewing our financial numbers, which we offered them, they do not dispute our facts and were still unwilling to discuss or make concessions for the upcoming season.

• FACT – In an effort to best illustrate a long term partnership the Frostbite pledge to give the city 50% of any profit made between June 1, 2005 through May 31, 2006.

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International Hockey League 2 Stories from May 21, 2005


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