Not sure how many of you have been following what’s happening in Russia, but it’s not good.
From NBC News:
The Russian ruble is in a tailspin and measures to prop it up have come to naught. The currency dropped more than 10 percent for the second day on Tuesday, recording its most severe drop since the 1998 Russian financial crisis. It regained a bit of ground later in the day.
Why do we mention that? Because here’s the hockey-related fallout, from the Globe and Mail’s James Mirtle:
Three KHL teams may fold due to monetary issues related to crashing ruble and Russian economy. Some coaches haven't been paid anything.
— James Mirtle (@mirtle) December 16, 2014
Multiple sources confirming players on those three KHL teams haven't been paid this season: "Roughly one-third of KHL has serious problems."
— James Mirtle (@mirtle) December 16, 2014
Don't know exactly which teams are distressed enough to bow out of KHL but best guesses are Atlant, Bratislava and Riga. Major pain there.
— James Mirtle (@mirtle) December 16, 2014
Western sanctions and falling oil prices are the big factors at play in Russia’s latest economic crisis. Those same falling oil prices have also driven down Canada’s currency, which is causing other hockey-related consequences.