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montec24

New York Post Gloom and Doom Returns

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Link: http://www.nypost.com/p/news/business/owner_be_damned_XgXuEUTpV1Ek0Xc8rl9MdI#ixzz1y7cwZn3F

Another article relying on speculation and his sources. Not contesting the fact that Bettman and the NHL would take over the team if Vanderbeek is unable to repay the lenders, but the way Kosman starts off the article is completely misleading, as is the headline. It starts off with this definitive statement:

Hockey is getting ready to freeze out New Jersey Devils owner Jeff Vanderbeek.

But then Kosman goes into this, which contradicts the message he's sending with that first sentence. And continues on with other options JVB has at this time.

Vanderbeek is near a deal to sell a majority stake to a mystery investor, which would allow him to keep control of the Eastern Conference champions, one source said. The proceeds from a sale would be used to repay lenders much of the $77 million in past due debt.

Just another Monday morning.

Edited by montec24

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Nice timing by the Post as well before Free Agency.

Clearly timed that way and not the last we'll hear before July 1

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well the word from people is we will hear good news today or tomorrow on finances. so post will choke on it once again.

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OK I do like the Post but the author of this article is really pissing me off. The worst part is that every time one of his stories appears in the paper it is reposted by every Rags fan I know with enormous glee.

I hope JVB can come through with a new ivenstor and he can shove these articles up that guys ass.

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If they were taken, they were already taken. Unless there was some technicality where the playoff windfall allowed them to pay off their debt to the league and bought them time. But if you took the team, why would you give it back. :lol:

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Wait, didn't this hack originally say the deadline was as soon as the finals were over, and now it's August 14th?

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well the word from people is we will hear good news today or tomorrow on finances. so post will choke on it once again.

Thats good news, and not that I am doubting, but what people? Or shall you not reveal your source?

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colin226? i believe is his handle here. he left a cryptic tweet saying he heard good news but can't share more. we'll see i guess.

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OK I do like the Post but the author of this article is really pissing me off. The worst part is that every time one of his stories appears in the paper it is reposted by every Rags fan I know with enormous glee.

I hope JVB can come through with a new ivenstor and he can shove these articles up that guys ass.

It's not only the Rags fans that pick it up and quote it as gospel. It's other media outlets, including the NHL's own radio network, that treat these stories as if the "unnamed source" providing the info is JVB himself. Stories like this are yet another example of why true "journalism" is dead.

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Tabloid strikes again, just trying to stir the pot

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It looks like the Rangers and their fans are buying into the classic belief that if you can't beat 'em, hope they move so you don't have to play 'em.

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I immediately take exception with the 'money-losing franchise' part. We didnt 'lose' any money this year.

And what garbage is this:

'Thanks to their success on ice this year, when the team staged an upset win over the New York Rangers in the Eastern Conference Championships, the Devils could go from losing $20 million in the regular season to almost breaking even next year, sources said.'

Edited by devlman

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I immediately take exception with the 'money-losing franchise' part. We didnt 'lose' any money this year.

And what garbage is this:

'Thanks to their success on ice this year, when the team staged an upset win over the New York Rangers in the Eastern Conference Championships, the Devils could go from losing $20 million in the regular season to almost breaking even next year, sources said.'

Closet butthurt Rags fan/"journalist" is butthurt.

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If I can recall from the last lockout, get ready to hear a lot of news about how poor the financial shape is of the NHL between now and the end of the CBA fight.

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So the article says we are close to a minority investor but still the NHL wants to take it over. Why go through one if the other is a certainty? Why not just take it over now if they were going to instead of bringing in more people and headaches to deal with?

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So the article says we are close to a minority investor but still the NHL wants to take it over. Why go through one if the other is a certainty? Why not just take it over now if they were going to instead of bringing in more people and headaches to deal with?

For an article of that length it is still very unclear and unfocused. He starts out with the position that the NHL is going to take over the devils and then for the entire article he lists pretty much every scenario that can happen at this point. My guess is this way no matter what happens he can write a follow-up and claim he was right all along.

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No damage has been done. This guy has had the story wrong pretty much all year. He's got some of the facts right but his spin on them is all wrong.

Nor do I think that an NHL takeover of the Devils would be that awful - I think the Devils would find a buyer pretty quickly. Vanderbeek's trouble with selling the other half of the team is that he's selling a non-controlling half.

Edited by Triumph

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NHL denies the report. But damage has already been done by the Post article.

http://www.usatoday.com/sports/hockey/nhl/story/2012-06-18/nhl-denies-report-of-devils-takeover-plans/55671186/1

Unfortunately, this does not do much to refute the Post story. Daly did not say that a league takeover isn't a possibility, just that it wasn't anticipated.

Really it comes down to who you believe more, Kosman or Vanderbeek. Sort of like trying to root for one side in the Iran/Iraq war.

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No damage has been done. This guy has had the story wrong pretty much all year. He's got some of the facts right but his spin on them is all wrong.

Nor do I think that an NHL takeover of the Devils would be that awful - I think the Devils would find a buyer pretty quickly. Vanderbeek's trouble with selling the other half of the team is that he's selling a non-controlling half.

By damage I'm referring to public perception from hockey fans more than anything. Doubting this will affect Vanderbeek's efforts to find an investor or work on refinancing, but its frustrating to see the posts on other boards, puck daddy, etc.

Edited by montec24

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It is amazing how few news outlets do their own investigations and simply regurgitate the same scandelous story and hide behind the fact that they report the original author as the source of the baseless and incorrect information they are perpetuating.

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It is a no news story. Basically if Vanderbeek's mystery buyer doesn't work out then the league will take over for next year while the team gets sold. I could have told you that months ago with no inside info. Any one who knows how leagues operate in situations like this knew that.

The situation is the same as it was yesterday.

BTW, I'm going to guess Kosman's source is someone who wants to buy the team outright from Vanderbeek (leaving him out) through bankruptcy. Seems to be the case because of the timing of the article's. Kind of similar to when the Globe and Mail was reporting on the Coyotes stuff (and before that their reporting on the Predators). Turned out the source there was Balsillie and his lawyer trying to chill the process by timely leaks.

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