NEW YORK - Former U.S. Securities & Exchange Commission Chair Arthur Levitt warned today that the National Hockey League's losses of $273 million on revenues of $1.996 billion, sustained during the 2002-03 season, threaten the viability of the League.

The 24 page study (plus 11 exhibits) reveals that 19 of the League's 30 teams had operating losses in 2002-2003 averaging $18 million and that