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Devils owner short, needs $20M more

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IDK about you but their bottom 6 looks pretty decent to me. If one of our players gets hurt of the CBGB line doesn't repeat what they did this past playoff run the Devils could be in a world of trouble.

I just do not see the Rangers being that much better than they were last year...which was still very good. The losses of Anisimov, Dubinsky, Prust, and Fedotenko are huge. Even the loss of Mitchell is big because he played Tortorellas system to a T. I just do not see their bottom six meshing well together but we have to wait and see.

And we must all remember how many things went the Rangers way last year, should be interesting to see if they can duplicate that again.

Edited by Zubie#8

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I just do not see the Rangers being that much better than they were last year...which was still very good. The losses of Anisimov, Dubinsky, Prust, and Fedotenko are huge. Even the loss of Mitchell is big because he played Tortorellas system to a T. I just do not see their bottom six meshing well together but we have to wait and see.

And we must all remember how many things went the Rangers way last year, should be interesting to see if they can duplicate that again.

Anisimov is a crapshoot, Dubinsky was always overrated in my book, and Fedo and Prust were not even close to being hugely important for them.

I expect them to do as well as they did last year. Maybe a slight drop off but not much at all.

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Anisimov is a crapshoot, Dubinsky was always overrated in my book, and Fedo and Prust were not even close to being hugely important for them.

I expect them to do as well as they did last year. Maybe a slight drop off but not much at all.

It is all about how these players adapt to the system or if Torts changes it up this year. I agree that they will still be good but not better than they were last year.

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DM84- Do you think it's possible that Dubinsky just had an off year? Would it have been fair to call Kovy a 60 pt player after the abortion that was 10-11? I think everyone knows what Dubinsky brings: grit, speed and a scoring touch. He's perfect for that system and I for one am glad hes off that team. It seemed like he was Clarkson's kryptonite.

As for Anisimov, I think he has the potential to become a solid 2nd line center. Has a good blend of size and skill.

And to top it all off I don't think Nash is all that good. But hey, I'm incredibly biased

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DM84- Do you think it's possible that Dubinsky just had an off year? Would it have been fair to call Kovy a 60 pt player after the abortion that was 10-11? I think everyone knows what Dubinsky brings: grit, speed and a scoring touch. He's perfect for that system and I for one am glad hes off that team. It seemed like he was Clarkson's kryptonite.

As for Anisimov, I think he has the potential to become a solid 2nd line center. Has a good blend of size and skill.

And to top it all off I don't think Nash is all that good. But hey, I'm incredibly biased

Dubinsky never really had an "on" year either. He was a 3rd, maybe 2nd line center that was being paid 1st line center money.

Also Clarkson played a lot of players that would seem to be his kryptonite as well. It speaks more about Clarkson than any of those players. Dubinsky, Avery, half the Flyers, etc...

Anisimov was alright and probably a bigger blow to the Rags than losing Dubinsky IMO. His contract at least was pretty good for them but Columbus needed another NHL ready player in that trade.

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You guys are worse than Cory Booker. Support JVB and have some faith that he will come through!

JVB is despised by the NHL. He is despised by his partners. He has done everything with leveraged money earned 10 years ago. Trying to cobble money from people to stay his execution another couple of years is counter productive. This is Wilpon-esque but to a worse degree.

I believe the league has owners lined up ready to come in and take the team once JVB is forced out.

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JVB is despised by the NHL.

Show me the direct quote/article you got this from please

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Show me the direct quote/article you got this from please

i am afraid you will have to take my word on this and you can choose to or not. I am not asking for a flame war or anything like that. i think you know and others will tell you that I don't pull these things out of my ass.

the real reason they were so pissed about the kovalchuk contract wasn't because of the cap circumvention (although that didn't help). it was that they knew HE couldn't afford to pay it. he has leveraged just about everything he can to continue his ownership of this team.

he is not financially stable and, at times, may have used the team as his own piggy bank to continue to lead his wall street level life while his wealth - which much of was paper wealth in the form of lehman stock - has plummeted.

the league doesn't need ownership like this and bankruptcy is a huge black eye on the NHL. he's almost certainly headed that way. he could have gotten out without that had he not insisted on trying to keep his majority ownership even though he didn't have the money to justify it.

you're supposedly in the know - i'm surprised this isn't something you've heard.

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All right I'm going to win the power ball here in Fl move back home and buy the team! Problem solved.

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All right I'm going to win the power ball here in Fl move back home and buy the team! Problem solved.

Lol we can all dream.

If I'd won the lottery or had the money I would never even consider buying any NHL team outside maybe a handful. I would however want an NFL team.

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What does JVB's height have to do with this?

Tall people never go into debt. I don't have a link right now, so you'll just have to take my word for it.

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i am afraid you will have to take my word on this and you can choose to or not. I am not asking for a flame war or anything like that. i think you know and others will tell you that I don't pull these things out of my ass.

the real reason they were so pissed about the kovalchuk contract wasn't because of the cap circumvention (although that didn't help). it was that they knew HE couldn't afford to pay it. he has leveraged just about everything he can to continue his ownership of this team.

he is not financially stable and, at times, may have used the team as his own piggy bank to continue to lead his wall street level life while his wealth - which much of was paper wealth in the form of lehman stock - has plummeted.

the league doesn't need ownership like this and bankruptcy is a huge black eye on the NHL. he's almost certainly headed that way. he could have gotten out without that had he not insisted on trying to keep his majority ownership even though he didn't have the money to justify it.

you're supposedly in the know - i'm surprised this isn't something you've heard.

Well I appreciate the honesty.. Most people who make statements based on their personal feeling (for lack of a better term) present it as a fact..

I used to be in the know on certain things (nothing like this though).. I retired from the Generals program as I felt I wasn't able to fulfill my duties because of work, and decided someone else who could make the commitment deserved my spot in the group.. Now that I'm out, I can spill the beans that they almost got the Cake Boss his own stand in the Taste of Newark, but for some reason it fell through

Anyway, I mean what you said is certainly plausible although I feel like there are so many bad contracts out there that why would they single out Kovy? I'd be more mad at Philly for trying to force Nashville to not keep Weber, and then I'd be mad at Nashville for taking on a potentially killer contract for them if there's a lockout

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Well I appreciate the honesty.. Most people who make statements based on their personal feeling (for lack of a better term) present it as a fact..

I used to be in the know on certain things (nothing like this though).. I retired from the Generals program as I felt I wasn't able to fulfill my duties because of work, and decided someone else who could make the commitment deserved my spot in the group.. Now that I'm out, I can spill the beans that they almost got the Cake Boss his own stand in the Taste of Newark, but for some reason it fell through

Cake Boss! (for the Paul F. Tompkins fans - okay, probably fan)

Anyway, I mean what you said is certainly plausible although I feel like there are so many bad contracts out there that why would they single out Kovy? I'd be more mad at Philly for trying to force Nashville to not keep Weber, and then I'd be mad at Nashville for taking on a potentially killer contract for them if there's a lockout

The point was that the league felt Vanderbeek didn't have the money to pay for Kovalchuk - remember, when the Devils signed Kovalchuk, I think the other owners already wanted out, although they weren't publicly saber-rattling (iirc Gilfillan was at the Kovalchuk press conference) - and the deal is structured very unusually - none of the other long deals are structured like this. And I feel that's because Vanderbeek knew he didn't have the cash to pay Kovalchuk big up front.

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i am afraid you will have to take my word on this and you can choose to or not. I am not asking for a flame war or anything like that. i think you know and others will tell you that I don't pull these things out of my ass.

the real reason they were so pissed about the kovalchuk contract wasn't because of the cap circumvention (although that didn't help). it was that they knew HE couldn't afford to pay it. he has leveraged just about everything he can to continue his ownership of this team.

he is not financially stable and, at times, may have used the team as his own piggy bank to continue to lead his wall street level life while his wealth - which much of was paper wealth in the form of lehman stock - has plummeted.

the league doesn't need ownership like this and bankruptcy is a huge black eye on the NHL. he's almost certainly headed that way. he could have gotten out without that had he not insisted on trying to keep his majority ownership even though he didn't have the money to justify it.

you're supposedly in the know - i'm surprised this isn't something you've heard.

Can you at least say how you would have this inside info? What type of connection do you have?

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Ohhhh I thought by "the other owners" he meant the other NHL owners.. Yup, could totally see the other Devils owners being upset with JVB handing Kovy that contract

I feel like it would be very odd for other team owners to single out one of their own based on something like the Kovy contract.. I could see them getting angry over the Weber deal since it was a rich team twisting the arm of a poorer team

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the real reason they were so pissed about the kovalchuk contract wasn't because of the cap circumvention (although that didn't help). it was that they knew HE couldn't afford to pay it. he has leveraged just about everything he can to continue his ownership of this team.

This is the first time I've ever heard that even as a rumor, although it certainly confirms what some people suspected when the weird contract format came out (less money in the first two years before the big payouts, when does THAT ever happen?).

JVB is despised by the NHL. He is despised by his partners. He has done everything with leveraged money earned 10 years ago. Trying to cobble money from people to stay his execution another couple of years is counter productive. This is Wilpon-esque but to a worse degree.

Thing is JVB actually seems like a genuine fan of the Devils, that's what makes it hard for me to root for his demise. I mean until this year the payroll has never been an issue, and the team's fan relations department has been dramatically upgraded the last few years.

As opposed to the Wilpons who are bigger fans of the Brooklyn Dodgers as evidenced by Citi Field, and never open the pocketbook until they 'have' to (when fans were ready to riot in '98 after they refused to consider acquiring Piazza at first, and in '04 when they were terrible for three straight years). Not to mention the Mets' lack of incentives to be a season ticket holder is a disgrace.

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It's amazing how a thread about Devils financials can turn to Rangers Hate.

You don't have to be a financial wizard to understand what has happened with the financial position of the Devils. Vanderbeek's personal wealth was stock of Lehman, that crashed and went to zero. He sued Lehman for $60M and didn't win that amount I think he got $20 M. His relationship with his present partners went to hell three years ago. His partners was offering any buyer $25M to take their position with the Devils. It is obvious that the League management doesn't like him as an majority owner. They don't like the relationship with the Devils and the City of Newark. The league already has an anchor with Phoenix so they don't want another but know it is coming soon. I have to accept that the Devils owe a delinquent $80M payment. I believe in trying to restructure the loan after all the banks don't want to lose their money that some agreement like I will raise $40M or some amount like that, 1/2 of the amount owed and if I do will you restructure? So here we are 7 days away from the deadline and if reported correctly he has a $20M shortfall. Some one said elsewhere when you are talking these dollar amounts $20M is nothing, that's not true in this economy.

IMO the best course of action to to get rid of Vanderbeek. For sure no one is buying him out? So I don't think the others owners want him to find the money, his current partners don't want him to find the money, and the league management don't want him to find the money. If the loan is called, then bankruptcy... he is gone. they will then have to deal like they have in Phoenix.

Also if the bankruptcy takes place then I think the contracts with the City of Newark will be void and new contracts will have to be written. Cory Booker will win by default.

Vanderbeek was and is a bad business man for these times.

If he had work with the City of Newark unlike what he did, they might have become a partner and floated a City bond to raise the money. They don't want an empty arena in Newark. Nets are gone. If the Devils leave what happen to the White Elephant? We all know the answer. Bars close, restaurants close, parking lots close, and Newark goes backwards.

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I see what you're saying, but its likely that any new owner would not be much wealthier and would still have to deal with the loans for years to come. If we can get a rich oil tycoon to make it rain doller bills, great. But I like JVB as a fan-friendy owner who deeply cares about nj hockey. I hope he can get the finances sorted out.

It's pretty safe to say that any new owner WOULD be wealthier. JVB is busted.

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It's amazing how a thread about Devils financials can turn to Rangers Hate.

You don't have to be a financial wizard to understand what has happened with the financial position of the Devils. Vanderbeek's personal wealth was stock of Lehman, that crashed and went to zero. He sued Lehman for $60M and didn't win that amount I think he got $20 M. His relationship with his present partners went to hell three years ago. His partners was offering any buyer $25M to take their position with the Devils. It is obvious that the League management doesn't like him as an majority owner. They don't like the relationship with the Devils and the City of Newark. The league already has an anchor with Phoenix so they don't want another but know it is coming soon. I have to accept that the Devils owe a delinquent $80M payment. I believe in trying to restructure the loan after all the banks don't want to lose their money that some agreement like I will raise $40M or some amount like that, 1/2 of the amount owed and if I do will you restructure? So here we are 7 days away from the deadline and if reported correctly he has a $20M shortfall. Some one said elsewhere when you are talking these dollar amounts $20M is nothing, that's not true in this economy.

IMO the best course of action to to get rid of Vanderbeek. For sure no one is buying him out? So I don't think the others owners want him to find the money, his current partners don't want him to find the money, and the league management don't want him to find the money. If the loan is called, then bankruptcy... he is gone. they will then have to deal like they have in Phoenix.

Also if the bankruptcy takes place then I think the contracts with the City of Newark will be void and new contracts will have to be written. Cory Booker will win by default.

Vanderbeek was and is a bad business man for these times.

If he had work with the City of Newark unlike what he did, they might have become a partner and floated a City bond to raise the money. They don't want an empty arena in Newark. Nets are gone. If the Devils leave what happen to the White Elephant? We all know the answer. Bars close, restaurants close, parking lots close, and Newark goes backwards.

you've got most of this right but the deal with newark is the deal - JVB or any other owner has no change in that. that's one thing that makes the team so attractive. they are not leaving the arena and they are not leaving the area regardless of who buys the team.

and yes, when i said the league despises JVB, i meant Betteman/Daly NHL - although i'd imagine his fellow owners don't love him either.

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Yep, Sharpe James' "lease in name only" isn't going anywhere. Basically the only way JVB could survive in his present financial condition would be as a "steward" owner. Well, when you owe god knows how much money, good luck turning a profit every year to hang on.

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Also if the bankruptcy takes place then I think the contracts with the City of Newark will be void and new contracts will have to be written. Cory Booker will win by default.

Vanderbeek was and is a bad business man for these times.

If he had work with the City of Newark unlike what he did, they might have become a partner and floated a City bond to raise the money. They don't want an empty arena in Newark. Nets are gone. If the Devils leave what happen to the White Elephant? We all know the answer. Bars close, restaurants close, parking lots close, and Newark goes backwards.

I don't think being on Newark's good side would have helped this situation in any possible way. Newark does not have the means to invest itself in a team, it's begging for money from the government just to barely survive.

If there's one thing that makes this team a potential gold-mine for them to be attracted to, it's THAT deal. From a business perspective, that deal may have been one of the few things Vanderbeek got right. I can't see any reason why that deal would be made null. The agreement is between Newark and the New Jersey Devils. Whoever the owner of the New Jersey Devils is doesn't really influence the deal as it would have been made by the ENTITY that is the "New Jersey Devils" (or whatever the corporation is behind the team). A new owner of anything would inherit all aspects and deals within the business, good or bad. Could be wrong, but that seems pretty standard..

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Lol we can all dream.

If I'd won the lottery or had the money I would never even consider buying any NHL team outside maybe a handful. I would however want an NFL team.

Yes, the NJ Giants sell out every game and keeps me living back in E Rutherford hope I win tonights drawing, Good luck DevsMan, if your playing!

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Sundstrom and DJ Eoc I understand your points. The NJ Devils owe the City of Newark money today. If the Devils go bankrupt then the City of Newark becomes a creditor within the bankruptcy court but way behind the banks and will probably collect very little of what is owed. I am sure in the contract with the Devils and the City there is a clause that says if you fail to pay in full the contract is void.

I have been told that if the Devils go bankrupt Cory Booker wins between he and Vanderbeek.

The City doesn't want to own the Devils nor do they want an empty building nor do they want to be screwed by the Devils. Sometimes it better to swallow the loss and get rid of the pain.

Someone will step up and lease or buy the arena without the Devils as part of the deal.

Personally I want to get rid of Vanderbeek so if bankruptcy is the way great. I also want the City of Newark to be proud and welcome the NJ Devils. That's not the case today.

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