Russia’s KHL mulls cutting teams under financial pressure
MOSCOW — The Kontinental Hockey League, widely considered the world’s strongest hockey competition outside the NHL, is considering cutting teams because of financial pressure.
A recession in Russia, where the KHL is based, and the low price of oil have hurt the fortunes of the Russian state-owned companies and regional governments that fund most teams, pushing several deeply into debt.
League president Dmitry Chernyshenko said the KHL board is set to discuss “an optimization of the number of clubs taking part,” in comments Monday to state agency R-Sport.
“I think it’s possible that the league could contract if the board takes that decision,” Chernyshenko said.