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Funny Money
Caitlin Moscatello
December 10, 2007
WHEN THEY were negotiating the current CBA with the players' union in 2005, NHL owners pushed through a bylaw that players with entry-level NHL contracts would be paid in that team's "native currency." That was a euphemism for the Canadian dollar, which at the time was worth around 80 cents in U.S. currency. The idea was to save a little scratch, but a funny thing happened in the interim: The Canadian dollar spiked, hitting a high of $1.10 U.S. on Nov. 7 and closing last week at $1.00. Today about 50 Canadian-born American Hockey League players who live in the U.S. are seeing a sweet bump in their $35,000 to $65,000 annual salaries. For Binghamton (N.Y.) Senators goalie Jeff Glass (above) the difference, at the Canadian dollar's peak, amounted to more than $500 a month, enough for his rent. Springfield (Mass.) Falcons forward Liam Reddox felt good enough about his uptick to buy a $27,800 truck before being called up to Edmonton on Nov. 15. Says his teammate defenseman Theo Peckham, who makes $52,500 Canadian, "Everything is so much cheaper in the U.S.!"
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December 10, 2007

Funny Money

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WHEN THEY were negotiating the current CBA with the players' union in 2005, NHL owners pushed through a bylaw that players with entry-level NHL contracts would be paid in that team's "native currency." That was a euphemism for the Canadian dollar, which at the time was worth around 80 cents in U.S. currency. The idea was to save a little scratch, but a funny thing happened in the interim: The Canadian dollar spiked, hitting a high of $1.10 U.S. on Nov. 7 and closing last week at $1.00. Today about 50 Canadian-born American Hockey League players who live in the U.S. are seeing a sweet bump in their $35,000 to $65,000 annual salaries. For Binghamton (N.Y.) Senators goalie Jeff Glass (above) the difference, at the Canadian dollar's peak, amounted to more than $500 a month, enough for his rent. Springfield (Mass.) Falcons forward Liam Reddox felt good enough about his uptick to buy a $27,800 truck before being called up to Edmonton on Nov. 15. Says his teammate defenseman Theo Peckham, who makes $52,500 Canadian, "Everything is so much cheaper in the U.S.!"

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