The AltRaps Blog

 http://www.thestar.com/Sports/article/275015

“Somehow it’s a little bit of a worry, a concern,” said Maurizio Gherardini, the Italian assistant GM who, like most of his fellow Europeans, maintains a residence in the homeland that is getting more expensive every day. “A certain part of our living expenses are in Europe, and the euro is going up so much. And the rest of our expenses are in Canadian dollars, and the Canadian dollar is so strong. We’re getting beaten both ways. It’s definitely a source of concern.”

To put the swing in valuations in perspective, not that anyone’s crying for the millionaires, consider that Rasho Nesterovic, the Toronto centre, signed a six-year deal in 2003 that will earn him more than $8 million (U.S.) this season. At the time Nesterovic signed the contract, $8 million (U.S.) was worth nearly 7 million euros. As of yesterday, it was worth about 5.5 million euros. As Nesterovic lives five months of the year in his native Slovenia, he has essentially taken a pay cut of more than 20 per cent, this while his buying power in Toronto has also gone down more than 20 per cent in the past year.

“I’ve noticed, trust me,” he said yesterday, in his usual deadpan. “I just hope it gets better. What else can you do?”