Who needs the Fog Devils? Mile One expects break-even year

The organization running money-losing Mile One Centre in downtown St. John's expects to break even in 2008, even with losing its anchor hockey team.

Mile One Centre has been losing money since it opened in 2001, but St. John's Sports and Entertainment said in a report tabled with city council Monday night that it plans to end 2008 without a deficit.

The St. John's Fog Devils finished playing in the Quebec Major Junior Hockey League this winter and have been sold to a new owner in Quebec.

St. John's Sports and Entertainment, which also operates a convention centre near Mile One, said the turnaround is the result of two main factors.

First, the board has cut its payroll from 32 full-time staff to 21.  The city has also increased its annual operating grant to $2 million, a hike of $500,000 from last year.

St. John's Sports and Entertainment lost nearly $640,000 in 2007.