More profit IS NOT made "by canceling those games then if they were played due to not paying refs," because of other expenses that have already been incurred and because of unrealized revenues on concession sales, product sales, etc. So regardless of refunds, the club did not make more profit by canceling the games. And this does not include lost revenues in the future for teams that don't come back. This was a tough decision to make because it cost the club a considerable amount of money rather than making more.
Profit is not lost from canceling matches. BTW, one cannot say that they lost money on unrealized losses...hence the term UNREALIZED
