Tuesday, March 25, 2003

Prof. David Duff commented on the $60 million refinancing deal worked out for the Ottawa Senators hockey team by their owner, Ron Bryden ("Other NHL teams should copy Senators deal, professor says", National Post, Feb. 19, 2003).

"This is a classic method of structuring tax shelters" said Duff. "I think he [Bryden] was just the first one to figure out that it applied to a hockey team."

Mr. Duff said he expects other NHL clubs will follow Mr. Bryden's example in structuring their finances. "This thing has been around and affirmed in a Revenue Canada opinion letter since 1991. And I wonder why all hockey teams aren't doing this to allow investors to take advantage of the deductions."

Read the full article in the National Post.