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dmon2010

Devils $80 Million Debt

63 posts in this topic

I guess this was his bimonthly "reminder", because there wasn't anything new to this, at all. There really hasn't been anything new to this since the beginning (at least that was proveable or factual), when he reported they were going to miss the balloon, which you could have known from reading on here.

Not overly impressed.

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I guess this was his bimonthly "reminder", because there wasn't anything new to this, at all. There really hasn't been anything new to this since the beginning (at least that was proveable or factual), when he reported they were going to miss the balloon, which you could have known from reading on here.

Not overly impressed.

well, we have two weeks or so until this "so called" imposed deadline comes up. so we'll find out soon enough how much this JOSH KOSMAN guy knows

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well, we have two weeks or so until this "so called" imposed deadline comes up. so we'll find out soon enough how much this JOSH KOSMAN guy knows

The league wouldn't say a thing until the summer, and would probably have to be prodded to admit it anyway, if not exposed for CBA reasons. So all you'll get in 3-4 weeks is another article.

This stuff with burger people and liquidating TV rights is just conjecture. The later, if the league was seriously considering getting involved, why would they allow this anyway. If they think stewardship and bankruptcy sale is the endgame, why would they let the TV rights (a key point of a sale) be violated in some desperate last ditch attempt to stay afloat.... *when it's only a temporary move*. There's another balloon in 2014.

Edited by maxpower

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Oh stop. The Devils aren't moving. They've got a new arena, fer cryin' out loud!

More importantly, where the heck would they move to? Hamilton, and their non-existent arena (over the objections of Toronto, Buffalo, and the league seem to want to put an expansion club there)? Nashville has a team now, so that bugaboo is gone. I'd believe that Vanderbeek is about to call it quits (which I doubt), but not that the team is moving.

Theres a nice new arena in Kansas City.....we would go full circle......K.C. / Colorado / N.J. / K.C. !!!!!!!!!

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I think where I was trying to go with my response is that I do fear that JVB may actually be having problems financially and there has been more smoke from employees who will tell you of the unpaid vendors (including the city of Newark) to the staff cuts over the summer. This may all just be resizing or temporary but I do have the fear of BK or the league running us. Granted for now this is an off hockey day story till I have another game to watch.

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Devils aren't going anywhere. Worst case senario its Dallas Stars 2.0 where a new investor steps in and basically buys the team for paying its debt in a sweetheart deal. The North Jersey market (especially TV market) is too good for the NHL especially with the albatros lurking on Long Island as a real relocation candidate.

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Hopefully a decent playoff run could chip away at some of the costs debt. I wonder how much missing last year costed JVB.

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Hopefully a decent playoff run could chip away at some of the costs debt. I wonder how much missing last year costed JVB.

Devils will have to fight to even make the playoffs, and even then it will be a one and done. This team doesn't have the goaltending situation or the puck movement up the ice to contend.

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Devils will have to fight to even make the playoffs, and even then it will be a one and done. This team doesn't have the goaltending situation or the puck movement up the ice to contend.

Anything can happen in the playoffs though.. Look at the Flyers 2 years ago making it into the playoffs after a shootout and then marching to the Cup finals with Boucher and Leighton in net.. But they had amazing D and that's where I think we would get exposed in the playoffs

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Exactly and if the Post was posting stories that are completely untrue, then JVB and company would have unleased their lawyers on the Post. Since this has not happened, even if the Post writer has some of agenda against the Devils, there still remains some truth to his article.

Like the old saying "when there is smoke, there is fire"

Newscorp survives on writing and saying provocative BS. The Devils don't want to be dragged in a public squabble regardless if the POST is subject to liable. It will be too costly and really unproductive. Its better to just ignore it.

Devils will have to fight to even make the playoffs, and even then it will be a one and done. This team doesn't have the goaltending situation or the puck movement up the ice to contend.

Its the mediocre defense and lack of third and forth line depth which will preclude us from making the playoffs this year.

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Its the mediocre defense and lack of third and forth line depth which will preclude us from making the playoffs this year.

Remember this quote.

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Newscorp survives on writing and saying provocative BS. The Devils don't want to be dragged in a public squabble regardless if the POST is subject to liable. It will be too costly and really unproductive. Its better to just ignore it.

Its the mediocre defense and lack of third and forth line depth which will preclude us from making the playoffs this year.

We never finalized the bet. Do you want so send DM the $50 each tonight? Loser's money gets donated to the site?

Remember this quote.

He will. Manta has issues with the team

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We never finalized the bet. Do you want so send DM the $50 each tonight? Loser's money gets donated to the site?

He will. Manta has issues with the team

I was wondering what happened to this, lol.

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Regardless of how true it is, I do find myself wondering if this has played into the Parise thing at all...I like having JVB as an owner as he seems to really be a hockey guy and it's pretty cool that it's "our" arena. That being said, I hope if they do need to change owners whomever comes in is as commited to developing around the arena.

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Regardless of how true it is, I do find myself wondering if this has played into the Parise thing at all...I like having JVB as an owner as he seems to really be a hockey guy and it's pretty cool that it's "our" arena. That being said, I hope if they do need to change owners whomever comes in is as commited to developing around the arena.

This is absolutely the reason Parise remains unsigned. Both sides basically admitted it when they attributed the one year deal to "ownership issues.". A Lehman Brothers euphemism for, "we're overleveraged and couldn't pay our bills even if all of our games were played at home."

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This is absolutely the reason Parise remains unsigned. Both sides basically admitted it when they attributed the one year deal to "ownership issues.". A Lehman Brothers euphemism for, "we're overleveraged and couldn't pay our bills even if all of our games were played at home."

Find me where this "basically admitted".. I remember them saying they needed more time to get a long term deal done and I remember Zach saying he wants $ and a Cup contender, but I find it hard to believe that he or Lou would ever hint at "ownership issues".. You're saying they called out their boss for his money problems? Doesn't sound like either one of them at all

Edited by Colin226

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Find me where this "basically admitted".. I remember them saying they needed more time to get a long term deal done and I remember Zach saying he wants $ and a Cup contender, but I find it hard to believe that he or Lou would ever hint at "ownership issues".. You're saying they called out their boss for his money problems? Doesn't sound like either one of them at all

Wade Arnott was quoted in May or so talking about how the Devils would negotiate when they got ownership issues sorted out. I don't recall Lou talking publicly about it - that's not something he would ever do - but on Parise's side there was some chatter about the issue.

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So when the fvck is the deadline for Vanderbeek to get this sh!t taken care of before the league steps in? Because I'm beyond sick of there always being some kind of financial issue with this franchise.

Edited by MadDog2020

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So when the fvck is the deadline for Vanderbeek to get this sh!t taken care of before the league steps in? Because I'm beyond sick of there always being some kind of financial issue with this franchise.

Too hard to tell right now I'd guess since we really don't know how serious this actually is.. Knowing the NHL, they'll wait until the day after Zach signs elsewhere

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Too hard to tell right now I'd guess since we really don't know how serious this actually is.. Knowing the NHL, they'll wait until the day after Zach signs elsewhere

Probably lol. I'm just tired of it. There's always some kind of financial issue looming around the Devils. I thought this sh!t would end with the new building, but they found a way to screw the pooch anyway. I'm just frustrated.

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Wade Arnott was quoted in May or so talking about how the Devils would negotiate when they got ownership issues sorted out. I don't recall Lou talking publicly about it - that's not something he would ever do - but on Parise's side there was some chatter about the issue.

Vaguely rings a bell although I thought we didn't know anything about the financial issues until The Post wrote about it over the summer

Definitely thought it would be weird for Lou to even hint at it and I think its a little weird Zach's agent would mention it.. I'd figure he'd use a different excuse

Probably lol. I'm just tired of it. There's always some kind of financial issue looming around the Devils. I thought this sh!t would end with the new building, but they found a way to screw the pooch anyway. I'm just frustrated.

I'll be honest, I was drinkin the Frosty when I thought we were getting a multi-billionaire

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Vaguely rings a bell although I thought we didn't know anything about the financial issues until The Post wrote about it over the summer

Definitely thought it would be weird for Lou to even hint at it and I think its a little weird Zach's agent would mention it.. I'd figure he'd use a different excuse

I'll be honest, I was drinkin the Frosty when I thought we were getting a multi-billionaire

That would've been great. But alas, that would've meant the issue would've been resolved in a relatively painless, easy manner. And no issue involving the Devils is ever resolved easily, or before extracting large amounts of pain on the fanbase. Parise is exhibit A.

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So when the fvck is the deadline for Vanderbeek to get this sh!t taken care of before the league steps in? Because I'm beyond sick of there always being some kind of financial issue with this franchise.

Yea I mean I don't get it. The team made the playoffs 15 years in a row and they're having issues all the sudden the one year they don't make the playoffs? Jesus.

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Matthew Ventolo posted a good article over-viewing all of this over on ILWT yesterday: Devils Financial Situation - A Brief Look Back

Here's the thing with all of this BS though. You've gotta remember that Vanderbeek is a Lehman Brothers guy. He wasn't just some schlub working over their either, he was an executive vice president of the firm. To say that the guy knows a thing or two about finance is a rather colossal understatement. You've got to remember that there are dozens of parties to all of this, including the Newark Housing Authority and Brick City which is still a partner to the ownership of the team. It seems obvious to me that Vanderbeek is keeping the team operations finances himself, and that they're not in any danger (which makes the comments about Kovy's signing being a huge mistake and the conviction that Parise is already out the door from some people kinda silly [i'm looking directly at a certain smart alec who just posted up above, there]). Lou Lamoriello said it himself back in September: "[i have] not had any financial restrictions from ownership while putting together his roster for the 2011-12 season."

All this crap about finances is ultimately about the arena, which is where the real money was and is anyway. As long as that's true it should be easy for everyone to realize that the league will never let anything come of this, because this is exactly the kinds of situation that North American professional sports leagues have become real good at dealing with over the last 30 years or so. The NHL has a vested interest in this simply fading away, which is likely what will happen between now and this time next year.

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Colin: It was related to ownership only, we've known that Chambers has wanted out for some time.

Yes, Lou said he had no financial restrictions on making the team. Yes, he added salary with Kurtis Foster. But at the level we're talking about, the Devils' budget this year - a million dollars here or there isn't going to make a difference.

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