Rock

Post Mentions Bankruptcy. Forbes now says JVB has full ownership pendi

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This article is sounding more bark than bite the more I think about it. I'm sure the devils finances aren't great but I'm sure its nothing extraordinarily dire either.

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This article is also up on Foxsports.com for those wondering about the legitimacy or reach of the article.

I too was surprised to read this. I had no idea it was this bad or in the area of being this bad.

It was copied from the Post.

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I don't believe it at all.

Unlike many teams/arenas, the Devils own the Prudential Center. Concerts, the Nets, and any other events, make the Devils money.

This also means that concessions + other sh!t that is sold in the arena yields a MUCH greater % of profit than it did at CAA and does for teams who do not own their arena.

You also have to look at the premium seating (acela club, fire/ice/platinum lounges, etc)..corporations pay tons for these seats. Even if a seat is empty, it doesn't mean that it's not paid for.

This is all concrete fact, not speculation.

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I don't believe it at all.

Unlike many teams/arenas, the Devils own the Prudential Center. Concerts, the Nets, and any other events, make the Devils money.

This also means that concessions + other sh!t that is sold in the arena yields a MUCH greater % of profit than it did at CAA and does for teams who do not own their arena.

You also have to look at the premium seating (acela club, fire/ice/platinum lounges, etc)..corporations pay tons for these seats. Even if a seat is empty, it doesn't mean that it's not paid for.

This is all concrete fact, not speculation.

You know exactly what their margins are for those seats and concessions? lol are you their accountant?

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I don't believe it at all.

Unlike many teams/arenas, the Devils own the Prudential Center. Concerts, the Nets, and any other events, make the Devils money.

This also means that concessions + other sh!t that is sold in the arena yields a MUCH greater % of profit than it did at CAA and does for teams who do not own their arena.

You also have to look at the premium seating (acela club, fire/ice/platinum lounges, etc)..corporations pay tons for these seats. Even if a seat is empty, it doesn't mean that it's not paid for.

This is all concrete fact, not speculation.

But there are facts that don't paint such a rosy picture. Chambers DOES want to sell his stake, and I doubt he'd want to if the arena was producing a nice profit. Not to mention that it's taking him over a year to find a buyer and that he's had to lower his asking price. Plus there have been reports for years now that the organization is late on payments, etc.

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You know exactly what their margins are for those seats and concessions? lol are you their accountant?

The Devils got nothing for concessions at the Meadowlands so we know they're doing better now.

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You know exactly what their margins are for those seats and concessions? lol are you their accountant?

Did I say I had exact margins? No, I didn't.

It doesn't take a genius to figure out that if the devils were fine at CAA, where profit margins were undoubtedly lower (of course, exact figures aren't available) and they made 0 dollars on other events, that they're fine now, where they profit much more on EVERY SINGLE THING AT PRUDENTIAL CENTER.

Stop with your FUD and bitterness, 84.

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:lol: the article had an unnamed source saying the Devils have already declared bankruptcy. How is that being kept quiet?

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It was copied from the Post.

Star Ledger did pretty much the same thing. They didn't credit the Post but kept the error about camp opening tomorrow so we can tell where the info came from.

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From what I understand, sporting events are relatively low-revenue events for arenas. Stuff like concerts, circuses, ice shows, etc. are where the real money is, and IIRC The Rock has been gaining those kinds of dates, not losing them.

this...how i understand it is the arena makes its money here but you can't have kelly clarkson or whomever rock out the rock everynight but you do have a lot of fixed costs such as taxes ext. and the devils just need to break even more or less to pull their weight which is not happening

the owners have taken a bath on the devils yes...business man and devils fan

im pretty sure 84 is no older then 17...he won a devils prize one game and i saw him with the devils dancers so no need to get on his case

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im pretty sure 84 is no older then 17...he won a devils prize one game and i saw him with the devils dancers so no need to get on his case

I've met 84. He's alot older then 17. Sorry to put a hole in your ASSumption :whistling:

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There's obviously a lot of truth behind this, with the recent buyouts and 1-year Parise contract, but I doubt it's as bad as this writer is saying. He's the same writer as before, and I'm sure the attention he's getting for this article was alot more important than getting the facts straight.

Defaulting on a large loan though, isn't a good sign.

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Did I say I had exact margins? No, I didn't.

It doesn't take a genius to figure out that if the devils were fine at CAA, where profit margins were undoubtedly lower (of course, exact figures aren't available) and they made 0 dollars on other events, that they're fine now, where they profit much more on EVERY SINGLE THING AT PRUDENTIAL CENTER.

Stop with your FUD and bitterness, 84.

And they have a lot more liabilities for the loans to build the damn arena that they didn't have at CAA. If you owe more than you are making no matter how much you make at concessions, then you are in trouble.

Doesn't take a genius to figure that out.

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There's obviously a lot of truth behind this, with the recent buyouts and 1-year Parise contract, but I doubt it's as bad as this writer is saying. He's the same writer as before, and I'm sure the attention he's getting for this article was alot more important than getting the facts straight.

Defaulting on a large loan though, isn't a good sign.

I don't think the loan was defaulted on was it? They missed their September 1st payment. If someone is monitoring the situation this closely and this is the first we've heard about their payments, it's not that bad. Also, their payment is less than two weeks late.... They'll have to pay a late fee... the horror! If this payment is made sometime this month, this whole story is just bullsh!t speculation.

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this...how i understand it is the arena makes its money here but you can't have kelly clarkson or whomever rock out the rock everynight but you do have a lot of fixed costs such as taxes ext. and the devils just need to break even more or less to pull their weight which is not happening

the owners have taken a bath on the devils yes...business man and devils fan

im pretty sure 84 is no older then 17...he won a devils prize one game and i saw him with the devils dancers so no need to get on his case

17? hahaha like Ken said who has met me I am well over 17 years old.

Also great you saw me with the Dancers winning a prize from the Devils. From your seat wishing you were doing the same thing.

I've met 84. He's alot older then 17. Sorry to put a hole in your ASSumption :whistling:

He hates me because I won sh!t and that I do not just blindly nod my head to whatever management or ownership says lol.

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And they have a lot more liabilities for the loans to build the damn arena that they didn't have at CAA. If you owe more than you are making no matter how much you make at concessions, then you are in trouble.

Doesn't take a genius to figure that out.

Fear. Uncertainty. Doubt. You just love to spread it around don't you?

Relax or you'll never make it past 30.

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I don't think the loan was defaulted on was it? They missed their September 1st payment. If someone is monitoring the situation this closely and this is the first we've heard about their payments, it's not that bad. Also, their payment is less than two weeks late.... They'll have to pay a late fee... the horror! If this payment is made sometime this month, this whole story is just bullsh!t speculation.

Based on past articles, the loan came due on Sep 1, so the entire amount of the loan was owed.

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I wish they would have just built the arena in Hoboken on top of the train tracks. It's a better transit hub, and a MUCH better city. The Jersey City/Hoboken area continues to grow and Newark still seems to be decades away from being a place anyone would hang out in other than to see a game.

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Fear. Uncertainty. Doubt. You just love to spread it around don't you?

Relax or you'll never make it past 30.

This is coming from the guy who got all whiney when Atlanta moved and when the Trenton Devils went under.

How many sellout games did you claim you went to Trenton last season? :whistling:

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And they have a lot more liabilities for the loans to build the damn arena that they didn't have at CAA. If you owe more than you are making no matter how much you make at concessions, then you are in trouble.

Doesn't take a genius to figure that out.

Almost everyone owes more than they make. I think you meant owe more than the assets are valued at.

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I wish they would have just built the arena in Hoboken on top of the train tracks. It's a better transit hub, and a MUCH better city. The Jersey City/Hoboken area continues to grow and Newark still seems to be decades away from being a place anyone would hang out in other than to see a game.

McMullen also floated that idea because he thought there were Devils fans in NYC who wanted to see them. Plus it would have made it harder to get to there because the NEC, Raritan Valley and other lines from Devils fans areas do not have direct train access.

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Almost everyone owes more than they make. I think you meant owe more than the assets are valued at.

You are correct, that is what I meant.

Thank you for being one of the few realistic people posting here.

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Man this thread is getting ugly, sheesh.

Still disconcerting, but I'm not going to sh!t my pants yet.

Soon, but not yet.

Move the team to quebec :)

Wouldn't be surprised if those rumors started soon, if these 'The Devils are broke' stories keep popping up.

Seriously Thrashers 2.0 sh!t right here

Edited by Devilsfan118

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This is coming from the guy who got all whiney when Atlanta moved and when the Trenton Devils went under.

How many sellout games did you claim you went to Trenton last season? :whistling:

None. What's your point? Continue being miserable and annoying.

Also, hoping the Quebec thing was a joke. I'm sure it was, no one wants New Jersey's only sports franchise to move.

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