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NJDevs4978

VBK gets a stay of execution?

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http://www.nypost.com/p/news/business/deal_lets_devils_owner_stay_in_game_z0WbIgkP44bmnQw9hEG0UL

Embattled New Jersey Devils owner Jeffrey Vanderbeek has finalized a deal with the team’s lenders that will keep him in control of the franchise for at least two years, The Post has learned.

The deal, hammered out in the last few days, was able to be reached only after the NHL agreed to convert its multi-million dollar advance on licensing income into a secured loan and to put off repayment for 24 months, or longer, the source added.

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Im not sure if its good or bad

Let's be sure it's legit first.. This would be, what, the 3rd time they've chosen a doomsday an had to write an article explaining why their "source" got it wrong? Again, this might be real, but they certainly haven't given themselves much credibility

Edited by Colin226

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If true, I see it as 2 years near the cap floor as he tries to be able to pay it.

That's kinda the way I see it.

JVB seems like a nice guy who sincerely loves the Devils. However he is a financial wreck and him owning the team at this point is counterproductive.

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If he plans on keeping the team near the cap floor I hope he gets ousted

Tough to be an elite team with a basement payroll

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If he plans on keeping the team near the cap floor I hope he gets ousted

Tough to be an elite team with a basement payroll

Worked for the Coyotes.

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If true, I see it as 2 years near the cap floor as he tries to be able to pay it.

sorry, i don't see this as that big an issue on team salary. sure, they won't have the ability to bury $10mm in the minors but we're probably looking at a Cap Range of $45mm floor - $60MM cap when we come out of the lockout. The Devils will be somewhere in the middle. I'm not expecting some sort of doomsday where clarkson, zajac and elias all bolt after this year because the devils have to be kovy and league minimum guys.

i know the league wanted him out but its really very hard to do that if an owner can cobble something together.

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If true, I see it as 2 years near the cap floor as he tries to be able to pay it.

You might be right. However, if the owners get half of what they are asking in the CBA negotiations, then this might not be the case as the cap ceiling might be very close to where the cap floor is now, meaning he can have a payroll a million or 2 under the new CBA's ceiling and still be in a much better financial situation.

At the end of the day, JVB has shown a willingness to spend on this roster to improve the team. During the height of hysteria regarding his and the team's finances last season, he added payroll to improve the blueline (and not just for a few months in Zidlicky's case). He resigned most of our significant free agents this offseason and, by all accounts, made a substantial offer on a multi-year deal to Parise. The Devils are not going to throw money around at FA's like Brad Richards like Glenn Sather when he's high on PCP, but they never have and their success with that formula is unquestioned.

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JVB seems like a nice guy who sincerely loves the Devils.

Meant to write this earlier. I was watching the NHL Network and the 'Raising The Cup' series, specifically the '95 one.

They had a shot of either the Devs or Red Wings bench and sitting first row right behind the bench was JVB.

Friggin' looks the same too.

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Even with a very friendly re-financing deal, does anyone know whether or not JVB will even have cash to eventually pay it off? I mean, what the hell is this guys plan?

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VBK is a highlander...

Perhaps Kosman is really The Kurgan.

Edited by DevsMan84
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Even with a very friendly re-financing deal, does anyone know whether or not JVB will even have cash to eventually pay it off? I mean, what the hell is this guys plan?

I'd assume he would use team profits until the debt is paid down :noclue:

Edit: which btw isn't the worse thing. With the new arena terms in place, the devils should be profitable every year on out. I'd also imagine jvb would also still look for other investors to buy stakes in the team. I don't see hockey operations being affected.

Edited by devlman

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Even with a very friendly re-financing deal, does anyone know whether or not JVB will even have cash to eventually pay it off? I mean, what the hell is this guys plan?

The banks seem to think he will.. That's enough for me

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I'd assume he would use team profits until the debt is paid down :noclue:

Edit: which btw isn't the worse thing. With the new arena terms in place, the devils should be profitable every year on out. I'd also imagine jvb would also still look for other investors to buy stakes in the team. I don't see hockey operations being affected.

if there is a lockout for the full season, will this be really bad for JVB or not so much? I mean there will be no revenue from hockey games, but no payroll either, plus there is still income from Devils merchandise and other arena events.

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if there is a lockout for the full season, will this be really bad for JVB or not so much? I mean there will be no revenue from hockey games, but no payroll either, plus there is still income from Devils merchandise and other arena events.

How much do the Devils makes on merchandise sales? How do they compare to other NHL franchises. I would think they do better than most but not close to the best.

Plus with the lockout I would think there would be a slowdown on the purchasing of NHL merchandise in general.

Plus he could have added some extra cash this summer with an equipment sale.....:)

Edited by DevsMan84

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How much do the Devils makes on merchandise sales? How do they compare to other NHL franchises. I would think they do better than most but not close to the best.

Plus with the lockout I would think there would be a slowdown on the purchasing of NHL merchandise in general.

Plus he could have added some extra cash this summer with an equipment sale.....:)

Yeah I'm just wondering if a year without Devils hockey will give JVB a breather / year to catch up, or will it be the death nail of him owning the team.

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Noticed how Jeff Vanderbeek gets a few tweets and saying he is the Owner. First time i've seen him photographed or in awhile.

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FYI this is from TG:

"I’m told today’s NY Post story on Devils’ ownership situation is again innaccurate.

Deal is not completed yet. It’s still on its way to getting done, but it’s not happening how it’s being described in NY Post.

At least they’re consistent."

http://blogs.northjersey.com/blogs/f...s_on_time/P25/

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The banks seem to think he will.. That's enough for me

The banks are only delaying the write-off of the bad debt.

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FYI this is from TG:

"I’m told today’s NY Post story on Devils’ ownership situation is again innaccurate.

Deal is not completed yet. It’s still on its way to getting done, but it’s not happening how it’s being described in NY Post.

At least they’re consistent."

http://blogs.northjersey.com/blogs/f...s_on_time/P25/

Couldn't find the article you mentioned.

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