Rock

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

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Yeah but $500 worth of food to the customer/fan actually cost the team like $100 - $125 (and some might argue that I'm being generous)

Probably being generous. 500 doesn't seem impossible to go through by the way...A beer alone is 8 bucks!

Does the team make money on parking?

Lets not forget about their very decent tv deal.

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Again, missing the point. They're foregoing revenue. If they really are on the brink, it would be epic stupidity. That's why I think their behavior isn't that of a team on the brink. At least operationally, they're okay. But the debt is a 10 ton elephant in the room. You can run from it for awhile but eventually you have to deal with it.

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Again, missing the point. They're foregoing revenue. If they really are on the brink, it would be epic stupidity. That's why I think their behavior isn't that of a team on the brink. At least operationally, they're okay. But the debt is a 10 ton elephant in the room. You can run from it for awhile but eventually you have to deal with it.

Well I knew other STH who went through their $500 in 20 games.. If you got a $500 voucher then I'm guessing you have expensive seats? For them, they're giving up like $80 to $120 worth of food to have you sign up for $4k+ in seats (and that's also probably a low number).. If giving someone $100 is what it takes for them to give you $4k+, then it's a good investment.. If those same people would have bought season tickets without the $500 voucher thrown in, then it's a poor investment.. Devils STH like to get lots of free stuff for their season tickets, so I'm guessing that for most STH the food vouchers and other free stuff are what keep them spending thousands on season tickets

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Not that expensive. I junked parking this year (because it screwed with resale, you're always starting off with a $15 loss since you can't resell them) so that plays a part, but if you factor in the "free food", I think this is the smallest invoice I've ever had. possible the 97-98 one was smaller but I don't have it lying around.

Edited by maxpower

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Not to derail the subject but what is the deal with STH parking? So it's $15, but what lots can you get into, and why can't you resell the pass? I assumed it was a hang tag like the Jets have for their STH, so one would think you could resell that on StubHub, Craigslist, etc

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Not to derail the subject but what is the deal with STH parking? So it's $15, but what lots can you get into, and why can't you resell the pass? I assumed it was a hang tag like the Jets have for their STH, so one would think you could resell that on StubHub, Craigslist, etc

You can sell it on stubhub but then you have to do the whole "mail the ticket" charade. Not great for quick turnarounds. And adding it in makes your price less competitive. It's not an instant sale you can do with other teams, when I went to Giants/Bears last year, I just bought a parking pass for around face value and printed it out. You can't do that with the Devils.

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You can sell it on stubhub but then you have to do the whole "mail the ticket" charade. Not great for quick turnarounds. And adding it in makes your price less competitive. It's not an instant sale you can do with other teams, when I went to Giants/Bears last year, I just bought a parking pass for around face value and printed it out. You can't do that with the Devils.

Especially when you can park on the street for free. Been doing it since the building opened.

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It used to be beneficial to buy parking pass, not anymore.

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Dont know if this was posted:

http://www.nypost.com/p/news/business/devils_deal_in_the_works_hiwL0s84sfpN9d6Tss7XYP

The New Jersey Devils, which missed a $100 million principal loan payment Sept. 1, have taken a small step toward a financial recovery after principal owner Jeff Vanderbeek reached an agreement to purchase co-owner Ray Chambers’ 47-percent stake in the franchise, The Post has learned.

Read more: http://www.nypost.com/p/news/business/devils_deal_in_the_works_hiwL0s84sfpN9d6Tss7XYP#ixzz1XqCxdaYH

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Chere's Star Ledger article from yesterday actually says someone OTHER than JVB is buying out the Brick City share - but of course he's the only one reporting this.

TG is almost always the most reliable in these cases and has the official announcement from the Devils so I'll go with that...for now.

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I think the Post writer got caught out in front and is flailing. I don't think either of his articles are true. I don't think they're immediately doomed, nor have they completed a sale.

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I think the Post writer got caught out in front and is flailing. I don't think either of his articles are true. I don't think they're immediately doomed, nor have they completed a sale.

What would writing that they've completed a sale cover up?

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If you could just hear all the rumors and the blabla here about the Devils coming to Quebec City... Pathetic :doh1:

As hard as I want a team here, I know the Devils will never move from New Jersey,

Edited by Devilzibook

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What would writing that they've completed a sale cover up?

I didn't mention a coverup, I just said the writer is all over the place. One day they're teetering on the brink of auction, the next day the purchase needed to move forward is complete.

Can you believe either story?

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I didn't mention a coverup, I just said the writer is all over the place. One day they're teetering on the brink of auction, the next day the purchase needed to move forward is complete.

Can you believe either story?

The full story isn't as rosy as the quoted excerpt makes it seem.

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The full story isn't as rosy as the quoted excerpt makes it seem.

No, it's not, but the debt has always been there. Saying they're teetering on being auctioned off after the season is a big difference from saying they're reorganizing the situation, which is still a mess.

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The Forbes story makes me feel even worse about this whole situation. The Devils have a higher debt than their net worth, we're in default, and Forbes confirmed that creditors can push some buttons after the season ends. I highly doubt it will ever get to that, but the fact is that the organization has some serious financial problems. We're going to be nowhere near the salary cap this season, and I think this will become a pattern in coming years until the situation is resolved. I have no problem with that, I just wonder if we can remain competitive without matching teams with higher salaries.

Edited by Amberite

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The Forbes story makes me feel even worse about this whole situation. The Devils have a higher debt than their net worth, we're in default, and Forbes confirmed that creditors can push some buttons after the season ends. I highly doubt it will ever get to that, but the fact is that the organization has some serious financial problems. We're going to be nowhere near the salary cap this season, and I think this will become a pattern in coming years until the situation is resolved. I have no problem with that, I just wonder if we can remain competitive without matching teams with higher salaries.

They've had a higher debt than their net worth ever since the took out the money to start construction on the Rock. They're also going to be at $59-60M, so they're nowhere near the floor. If anything, they should stay the hell away from the cap because everytime they end up near it, 26 people get hurt and leave them with no cap flexibility whatsoever since they're in debt to LTIR for a bajillion $'s.

If they got bound like they did last year two seasons ago... no Kovalchuk unless they traded $ for $. And since half the team has NMC's...

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the good thing is... were gonna have lots of cap space next season, around 25m per cap geek and not too many big players to resign except parise... even if he get around 7.5 or wtv we would still not be against the cap so

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To expand on the cap situation...

The players that need to be re-signed are Parise, Brodeur, Hedberg, Zharkov, Palmieri, Fraser, Corrente, Salvador, Fayne, Pelley and Janssen.

Coming OFF the books: the 1 million combined from Peters/Pandolfo buyouts. Most likely Salvador's 2.9 mil.

Brodeur will probably sign a one year deal at a reduced rate. Hedberg won't get more than he does now if he stays... and Parise will get a 1-1.5 mil raise at the most.

If the team is good this year , next year the team could have 7-10mil in cap space and be just as awesome.

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To expand on the cap situation...

The players that need to be re-signed are Parise, Brodeur, Hedberg, Zharkov, Palmieri, Fraser, Corrente, Salvador, Fayne, Pelley and Janssen.

Coming OFF the books: the 1 million combined from Peters/Pandolfo buyouts. Most likely Salvador's 2.9 mil.

Brodeur will probably sign a one year deal at a reduced rate. Hedberg won't get more than he does now if he stays... and Parise will get a 1-1.5 mil raise at the most.

If the team is good this year , next year the team could have 7-10mil in cap space and be just as awesome.

Im not too sure id like to keep on signing Fraser

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