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NHL could loan cash-strapped Devils money for operating costs

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The National Hockey League is in talks with the money-losing New Jersey Devils to advance the team money so it can continue to operate through the season, The Post has learned.

Under the NHL plan, Devils controlling owner Jeffery Vanderbeek would continue to run the team while he pursues a long-term financing solution, sources said.

“We can presume if the advance has not happened, it is going to happen soon,” a source close to the team said.

The Devils, which need to meet payroll twice a month until the regular season ends April 7, are weighing trading team captain Zach Parise for draft picks.

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If the Devils are in this bad of financial shape, how do they escape the relocation talks? I know they have been mentioned, but not as frequently as other teams. It seems there should be more talk. Or is it assumed a buyer would be easy to find who would stay in NJ?

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The National Hockey League is in talks with the money-losing New Jersey Devils to advance the team money so it can continue to operate through the season, The Post has learned.

Under the NHL plan, Devils controlling owner Jeffery Vanderbeek would continue to run the team while he pursues a long-term financing solution, sources said.

“We can presume if the advance has not happened, it is going to happen soon,” a source close to the team said.

The Devils, which need to meet payroll twice a month until the regular season ends April 7, are weighing trading team captain Zach Parise for draft picks.

That would suck to have to trade ZP to reduce payroll but I think it's kind of far fetched that we would.

Edited by CarpathianForest

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The National Hockey League is in talks with the money-losing New Jersey Devils to advance the team money so it can continue to operate through the season, The Post has learned.

Under the NHL plan, Devils controlling owner Jeffery Vanderbeek would continue to run the team while he pursues a long-term financing solution, sources said.

“We can presume if the advance has not happened, it is going to happen soon,” a source close to the team said.

The Devils, which need to meet payroll twice a month until the regular season ends April 7, are weighing trading team captain Zach Parise for draft picks.

Because the Devils have a brand new arena and a TV contract worth over $100 million, among other things.

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Because the Devils have a brand new arena and a TV contract worth over $100 million, among other things.

And I meant to quote aLowDrudge's post there, not the OP.

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thats so terrible... first it's bad for everyone involved to trade Zach, especially if he want to stay.

But then i wouldnt want to trade Zach for a late round pick either... so it would have to be to a bottom team and then zach would be pissed

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If the Devils are in this bad of financial shape, how do they escape the relocation talks? I know they have been mentioned, but not as frequently as other teams. It seems there should be more talk. Or is it assumed a buyer would be easy to find who would stay in NJ?

Team's value is into a brand arena with a 30 year lease which is spurring redevelopment yet needs an anchor tenant, for starters.

Dallas went bankrupt, they were in no danger in moving or any talk. Same with Buffalo and Ottawa.

More Post crap. Where is this "source"?

Edited by Marv4Life

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While I've been with the glass 'half empty' crowd in terms of our finances, this one is over the top even for the Post. If we're so cash strapped we're trading Parise for draft picks (and forgoing any potential playoff revenue in the process) then how, exactly did we acquire Foster and Ponikarovsky during the season? The Devils added at least $1 million to the payroll factoring in salaries replaced and time spent with the team. When it comes to actual hockey rumor-mongering nobody's as silly as the Post.

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I'll just say it outright: Koosman is an idiot, and he's obviously just pandering to the crowd.

I haven't listened to him in a long time, but the "this one is over the top even for the Post." sentiment is dead on, here.

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im serious here...

could all this be some kind of evil plan to make the organization look bad to play with Zach's head while he's considering his future? even his dad brought it up in an interview

after all its all coming from New-York

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lol ...um, no.

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im serious here...

could all this be some kind of evil plan to make the organization look bad to play with Zach's head while he's considering his future? even his dad brought it up in an interview

after all its all coming from New-York

If you're really being serious, I would suggest help. No offense or anything.

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If you're really being serious, I would suggest help. No offense or anything.

well i know how silly it sounds obviously lol but its all coming from a confidential source and the organization denied it? Not saying the Rangers or wtv is doing it but why would you go on and on and on and on about it

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because it's the Post, and it's Koosmen.

Ya gotta live in this area and actually be exposed to the Post to fully appreciate their silliness, I guess.

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yeah what i meant came out worst than what i was really thinking

its like in the Habs / Nordiques era... the fans we're passionate and it was seriously a war between fans lol and reporters were always trying to get the dirt on the other team that it was right or not, making up stories so. its not impossible

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As much as we don't like it, I suspect the Post is right, or at least has good sources. The payroll added is basically nothing, especially whem we're talking so much debt the team cannot pay back. The only thing that will prevent bankruptcy is Mr. Baconater coming to our rescue. It's also the only hope of signing Zach to a lomg term deal.

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So the Devils are going to drive down the value of the team further by trading Zach and missing the playoffs for the second straight year? Sorry, that one isn't passing the sniff test. Lou's never thrown in the towel on UFA's even when it was obvious they weren't staying (Gomez, etc).

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I've never denied that something is going on, but the details of what is going on bear little if any resemblance to what the Post is reporting.

Just listen to what you're saying there: "I suspect the Post is right, or at least has good sources."

...it's the NY Post. I mean, come on.

Adding a million dollars in payroll is not at all "basically nothing", either. That right there shows that there's little or no rational thought being put into this. NJDevs4978 is right on by saying "Sorry, that one isn't passing the sniff test."

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I've never denied that something is going on, but the details of what is going on bear little if any resemblance to what the Post is reporting.

Just listen to what you're saying there: "I suspect the Post is right, or at least has good sources."

...it's the NY Post. I mean, come on.

Adding a million dollars in payroll is not at all "basically nothing", either. That right there shows that there's little or no rational thought being put into this. NJDevs4978 is right on by saying "Sorry, that one isn't passing the sniff test."

It's not adding as much as you think, or its insignificant. Remember you have to figure in the amount you were paying the people you shipped out. So from a bottom line standpoint the team isn't shelling out a whole lot more than it would have been without the trades.

If the team is making the playoffs I agree Parise won't be traded. That is far from a guarantee however.

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Hope this doesn't mean we have to lose Parise :(

Does this story really have any legs though?

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In finance, nothing is insignificant (nevermind a million dollars). Saying that adding payroll is insignificant is ridiculous. Sorry, but it is.

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I've long said I'm very skeptical of Parise staying here. If he really wanted to stay here, he would have signed already. It's clear he's intent on testing free agency, and if he hits FA, there's going to be a number of teams jumping over themselves to give him a big deal. Add in the financial issues this team has, and it's not exactly hard science to see it.

Throw in the all the problems Lou has had since the lockout and the nonstop coaching carousel and Vanderbeek's meddling ownership and financial problems.

To be honest, Lou and Vanderbeek keeping Parise just to earn a million or two on a couple home playoff games in an opening series to only then lose Parise is what I think the only deal might be in terms of keeping him. I'd be furious if they know for sure Parise would rather go elsewhere and then lose him for nothing. This team has shown it can't beat the big three in the conference in a series (Rangers, Flyers, Bruins).

I'm not sure I believe however that Parise is being shopped to lower payroll, but it may honestly be that Lou knows Parise isn't staying here. If he moves him, I hope he gets pieces back that can either help in the coming years, or be moved around for other pieces as well.

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For a team who has added payroll this season via trades and overpayed for Andy Greene this summer they don't seem to be in THAT much financial trouble.

Edited by Marv4Life

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For a team who has added payroll this season via trades and overpayed for Andy Greene this summer they don't seem to be in THAT much financial trouble.

They added payroll in a few hundred thousand in Ponikarovsky. I think the Foster deal was mostly a wash. Things can change in a heartbeat concerning debt and finances anyway from one period to the next in terms of a few months. It's clear Vanderbeek and the current finance structure of the team is taking on water.

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It's not adding as much as you think, or its insignificant. Remember you have to figure in the amount you were paying the people you shipped out. So from a bottom line standpoint the team isn't shelling out a whole lot more than it would have been without the trades.

That's why I said they added about a million instead of three plus million (the season value of Poni and Foster's contracts). But still, it's not nothing. They could very well sit on their hands, it's not as if Poni and Foster are going to be the difference between this team being upper echelon and one of the pack. Plus they haven't exactly gone into alarm-inducing cost-cutting mode - yet - or they would have traded Zach in the offseason and let Greene go.

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