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montec24

New York Post Gloom and Doom Returns

53 posts in this topic

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.

Exactly correct who wants to buy a team that is on the verge of bankruptcy and allow the guy that got them into this mess to continue with the only controlling interest. Not many investor I know would throw bad money after bad. Unless there is a tax write off and in today's talk about reforming the tax code that's a risk not to take until the changes settle. I suspect that there isn't a buyer in the wings willing to go it with Vanderbeek. They are just trying to keep the vultures away before they strike with bankruptcy procedures. IMO this is the reason that Parise won't sign with the Devils.

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Exactly correct who wants to buy a team that is on the verge of bankruptcy and allow the guy that got them into this mess to continue with the only controlling interest. Not many investor I know would throw bad money after bad. Unless there is a tax write off and in today's talk about reforming the tax code that's a risk not to take until the changes settle. I suspect that there isn't a buyer in the wings willing to go it with Vanderbeek. They are just trying to keep the vultures away before they strike with bankruptcy procedures. IMO this is the reason that Parise won't sign with the Devils.

Couple of reasons it might make sense. New investor could have a deal where he's putting up less to eventually get a controlling share if the team defaults, I.e. he's actually purchasing the debt for less than it's worth. The other advantage is that the sale or whatever it is doesn't have to be approved by a bankruptcy judge.

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Exactly correct who wants to buy a team that is on the verge of bankruptcy and allow the guy that got them into this mess to continue with the only controlling interest. Not many investor I know would throw bad money after bad. Unless there is a tax write off and in today's talk about reforming the tax code that's a risk not to take until the changes settle. I suspect that there isn't a buyer in the wings willing to go it with Vanderbeek. They are just trying to keep the vultures away before they strike with bankruptcy procedures. IMO this is the reason that Parise won't sign with the Devils.

The only mess JVB got the Devils into was a ton of arena debt - which we needed. Dont think any investors will mind JVB staying on. Hes done a good job.

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The only mess JVB got the Devils into was a ton of arena debt - which we needed. Dont think any investors will mind JVB staying on. Hes done a good job.

Sorry I can't agree. The club has been steadily losing money and the arena is bleeding. The financial worth of the package is less than the total debt. How good a job is that?

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I thought this comment under one of the articles in the Fire & Ice Blog was telling. In response to a question about the NYP article:

Did you guys actually waste your time talking about that story today?

If there was something worth responding to/working on, I would have.

I don’t waste my time chasing and responding to stories like that. By even writing a word about it, you give the story more credibility than it deserves.

Posted by Tom Gulitti on 06/18 at 07:57 PM

Just goes to prove it's sensationalist horesh!t from New York City's top toilet paper manufacturer.

Oh, and journalism is dead.

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TG has been really forthright about what he thinks the source of all those stories are and how totally bullsh!t he thinks it is.

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TG has been really forthright about what he thinks the source of all those stories are and how totally bullsh!t he thinks it is.

It is an absolute joke. Why even bother getting a degree in journalism when you can work for the Post.

Edited by Zubie#8

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Sorry I can't agree. The club has been steadily losing money and the arena is bleeding. The financial worth of the package is less than the total debt. How good a job is that?

How is that his fault?

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Now a days they try to make an cheap rumor a story. I'm not surprised at all.

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I am of a frame of mind to ban any future threads about finances if the source is the baseless Post. When you have reporters and the NHL itself saying there is no reason for the story it is worse than a false player movement thread.

I feel like it cheapens the franchise of the Devils for no reason and it is vindictiveness from the NY media.

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I am of a frame of mind to ban any future threads about finances if the source is the baseless Post. When you have reporters and the NHL itself saying there is no reason for the story it is worse than a false player movement thread.

I feel like it cheapens the franchise of the Devils for no reason and it is vindictiveness from the NY media.

+1

But I do like ranting about how much we hate the post. Banning baseless spite from the post would be like banning idle speculation by Єklund (2.3% accurate).

Edited by mouse

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Have to trust New York Times writers over the Post :dance: Should be an interesting couple of months ahead of us with all of the free agents and the ownership situation.

http://www.nytimes.com/2012/06/21/sports/hockey/devils-could-be-nearing-deal-with-new-investors.html?_r=2

Edited by Zubie#8

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That NY Times article has more evidence of this impending sale than all the 'Devils are bankrupt' articles in the Post combined. Although the Post articles have lots of hearsay and conjecture, those are kinds of evidence.

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That NY Times article has more evidence of this impending sale than all the 'Devils are bankrupt' articles in the Post combined. Although the Post articles have lots of hearsay and conjecture, those are kinds of evidence.

The Post just publishes garbage to appease certain people.

Devils are moving to Kansas brah.

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The Post is basically the equivalent of the National Enquirer that tries to pass itself off as a legitimate newspaper. I tend to believe the NY Times article. However, should this sale go through, the biggest question that remains is, can this get done in time to re-sign Parise on July 1?

Edited by Chuck the Duck

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But the Devils’ deep playoff run brought in $32 million in extra revenue, which has given Vanderbeek breathing room to seek a better deal.

Just make the Finals every year guys and no financial problems ever again !! :cheers:

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The Post is basically the equivalent of the National Enquirer that tries to pass itself off as a legitimate newspaper. I tend to believe the NY Times article. However, should this sale go through, the biggest question that remains is, can this get done in time to re-sign Parise on July 1?

Overall the NY Post is indeed a glorified tabloid but a lot of times they provide more accurate reporting than the NY Times and NY Daily News. Hell the NY Post is the only paper who has a sports section that acknowledges the NHL existence. Good luck trying to find daily reporting on hockey in the Daily News or Times.

In this case it looks like a certain reporter for the NY Post has a sort of grudge against the Devils for whatever reason. The fact that Larry Brooks and Mark (N)Єverson (the Posts beat writer for the Devils) barely have said a peep about this when they too should be all over it. This just proves its really just this one reporter who is spewing this garbage and his own collegues either think its bogus or weak at best.

This new Times report is indeed optimistic and seems more accurate as the details actually make sense and acknowledges certain givens that the NY Post reporter does not. Therefore I am def more inclined to believe the Times report more than any of the Post reports so far. Again like I said earlier Kosman's last report was erratic at best and it looks like he was just listing off every possible scenario that could happen so he can cover his own ass.

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Surprised no one has pointed out this nugget in the Times article:

The term sheet also specifies that a compensation committee that includes the major shareholders be created to approve player contracts of more than three years that are worth more than $7.5 million after the first year, and which increase overall team payroll.

I'm still unclear about what the committee approval trigger is since the sentence is a bit awkward, but, obviously any deal that would be proposed to Zach would require the approval of this committee if the deal is in place at that time. Query whether any offers to Zach are part of the negotiations with the investors.

This compensation committee also directly takes personnel decisions out of Lou's hands, at least in certain respects.

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Surprised no one has pointed out this nugget in the Times article:

I'm still unclear about what the committee approval trigger is since the sentence is a bit awkward, but, obviously any deal that would be proposed to Zach would require the approval of this committee if the deal is in place at that time. Query whether any offers to Zach are part of the negotiations with the investors.

This compensation committee also directly takes personnel decisions out of Lou's hands, at least in certain respects.

Isn't that how most teams handle this anyways?

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Isn't that how most teams handle this anyways?

I haven't heard of anything like that before. Usually there's just a controlling stake that makes the decision. Or a GM is given a budget and that's it. I haven't heard of a separate shareholder committee, that is made up of non-majority stakeholders, that has to approve player contracts.

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That NY Times article has more evidence of this impending sale than all the 'Devils are bankrupt' articles in the Post combined. Although the Post articles have lots of hearsay and conjecture, those are kinds of evidence.

No. Money down.

I wasn't going to let that go without giving you proper credit.

And to Daniel regarding the compensation committee - I'm not going to get completely bent out of shape on it. I'd be willing to bet its more of a formality and just something to appease lenders. To say that it takes ALL the power out of Lou's hands is a bit of a stretch.

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I haven't heard of anything like that before. Usually there's just a controlling stake that makes the decision. Or a GM is given a budget and that's it. I haven't heard of a separate shareholder committee, that is made up of non-majority stakeholders, that has to approve player contracts.

Again, just because you haven't heard of it doesn't mean it doesn't happen.

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the newspapers are full of journalists who just rehash everything they hear. God knows what the higher ups force them to write. thats just regular news. I get the daily news, and lately if it isnt bitter ranger fans badmouthing the devils, its coverage on Parise to hopefully go to the rangers.It stopped when he said he would never do that. Hockey coverage in papers sucks (except bergen record up north casue they report on the devils every game). I actually got published in the daily news Voices of the People opinion section saying there coverage of the Devils sucks (they edited it and left out hte part where i said the poor islanders are lucky for a tiny paragraph). most these newspapers could give two poops about hockey. I wouldnt trust anything they say. the people in charge of covering hockey in the NY papers seem to be guys who cover the rangers, and if all 3 teams play, they just post a Assoicated press article on the Devils or Islander game. Im ready to cancel my daily news. They currently are going on and on that that smug @#$@#$% alec balwin attacked one of their stupid photographers and it never ends. I guess i could get my Devils financial news from some NHL site but frankly i think most of their writers hate the devils too. IM just going to pretend everything is ok, and try and avoid teh Bergen Record which might actually report something i dont want to hear.

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