NEW YORK, Nov. 12 (UPI) -- The NHL dismissed Friday a published report that says the league didn't lose nearly as much money as it reported for the 2003-04 season.
The NHL said it lost $224 million, but in the Nov. 29 edition of Forbes Magazine that loss is pegged at $96 million, Toronto's Globe and Mail reported.
Forbes also said the NHL lost much less in the previous season, 2002-03, than it reported.
"The Forbes article is factually inaccurate in numerous respects and is not based on any of the actual information that would be needed to support its claims," Bill Daly, the NHL's executive vice-president and chief legal officer, said.
"It is nothing short of irresponsible journalism."
The Forbes report comes at a sensitive time for the NHL as league officials have locked out players in a contract dispute.
The league wants a salary cap; the players don't. Negotiators have not met since early September.
Forbes defends its figures by saying there has not been a full accounting of revenue, such as all of the $17 million the New York Islanders got last year for their cable broadcasts.
The NHL counters an audit by former Securities & Exchange Commission Chairman Arthur Levitt last year sustained their reported numbers.
