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Vanderbeek misses interest payment per Kosman

88 posts in this topic

First if true, then as I have said in the past Vanderbeek must go. It would appear that the Devils are a lock to stay in Newark with latest agreement with the City so the only thing to sort out is the ownership and finances. The sooner the better or we will continue to have a non competitive team like this past season made up of 3rd and 4th line players along with old goalies. If I were Elias I would look to leave for a team with a serious shot at the cup before I am finished.

Edited by LucifersDog

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It's Kosman so I will take it with a grain of salt and see if there are more concrete facts to this before I hit the panic button.

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First if true, then as I have said in the past Vanderbeek must go. It would appear that the Devils are a lock to stay in Newark with latest agreement with the City so the only thing to sort out is the ownership and finances. The sooner the better or we will continue to have a non competitive team like this past season made up of 3rd and 4th line players along with old goalies. If I were Elias I would look to leave for a team with a serious shot at the cup before I am finished.

Some men have more loyalty than to the highest bidder.

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In Kosman's world didn't VBK get forced out of ownership by the league over a year ago? Maybe he's correct now, but his anonymous sources in the past have led him astray.

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I'm starting to think Kosman is employed by the Post only to write about Vanderbeek's financial shortcomings.

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Calling bullsh!t - the lockout should not have affected the Devils' finances negatively at all.

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Some men have more loyalty than to the highest bidder.

I think it is about one more shot at the cup.

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I dont understand how hes put the team into such a financial hole.. and of course a lock out would affect finances negatively how would you figure that it wouldnt? the team isnt making any money if its not playing they arent putting anyone in the building?.... i dont know how everything works in that department but i mean it only makes sense.. if no one is paying for tickets how could they be making any money.. they arent.. and once the season started the rock was a sell out almost every game this season there was only a handful of games that werent sold out.. so they must have done pretty well atleast of making money on their tickets this season... i wonder what its going to look like next year, part of me only feels tht the reason they put so many people in the seats this year was because of the playoff run they had last year.. not even making the playoffs this year is the attendance there going to drop back to sh!t again for the most part or do you guys think it will stay packed?

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Remind me why we are beliving the doom and gloom that is the NY Post again?

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i would imagine if this is in fact true that it will pop up threw another source thats a pretty big deal.... but also if it isnt true i dont see how someone could make something up like that so there has to be some part of truth to it somewhere even if not entirely true someone cant just go around making sh!t up like that

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I dont understand how hes put the team into such a financial hole.. and of course a lock out would affect finances negatively how would you figure that it wouldnt? the team isnt making any money if its not playing they arent putting anyone in the building?.... i dont know how everything works in that department but i mean it only makes sense.. if no one is paying for tickets how could they be making any money.. they arent.. and once the season started the rock was a sell out almost every game this season there was only a handful of games that werent sold out.. so they must have done pretty well atleast of making money on their tickets this season... i wonder what its going to look like next year, part of me only feels tht the reason they put so many people in the seats this year was because of the playoff run they had last year.. not even making the playoffs this year is the attendance there going to drop back to sh!t again for the most part or do you guys think it will stay packed?

 

You said it yourself.  The Devils sold out more games and had better attendance than any year in Newark to date.  Their biggest expense is player salaries, which they didn't have to pay at all during the lockout.  I believe the Devils lose money at the beginning of the year, typically, when they're not selling out games.  That didn't happen this year.  Given also that the Devils didn't lay anyone off during the lockout despite the fact that a lot of teams did, this all reads like Kosman's standard play.  This guy said Vanderbeek had less than $1M cash a year and a half ago.

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You said it yourself. The Devils sold out more games and had better attendance than any year in Newark to date. Their biggest expense is player salaries, which they didn't have to pay at all during the lockout. I believe the Devils lose money at the beginning of the year, typically, when they're not selling out games. That didn't happen this year. Given also that the Devils didn't lay anyone off during the lockout despite the fact that a lot of teams did, this all reads like Kosman's standard play. This guy said Vanderbeek had less than $1M cash a year and a half ago.

Keep in mind though that there was heavy discounting on tickets.

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Look.  The market's going crazy right not.  Nobody's losing money.  Maybe he's just waiting for an instrument to mature and it's worth the penalty to wait.  Who knows?

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Look.  The market's going crazy right not.  Nobody's losing money.  Maybe he's just waiting for an instrument to mature and it's worth the penalty to wait.  Who knows?

 

Que?

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im just scared that the Devils will have to move because of all this financial sh!t.

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Keep in mind though that there was heavy discounting on tickets.

Maybe in 2010 - 2011 but I don't recall heavy discounting this past season.. They did a bunch of small promos like they normally do (Groupons and things) but nothing major I thought.. They were selling too well to need discounts

This guy for the Post keeps writing about how the Devils and Vanderbeek are financially doomed.. All that has happened since was numerous incorrect predictions (guaranteeing that Parise would be traded by the deadline last year, before writing a last minute article with some BS excuse why it didn't happen, comes immediately to mind), a lucrative run to the finals, a lockout that lowered expenses followed by a boom in attendance, the scheduled draft, and an outdoor game that'll bring some extra cash...

Zero indication that money is a serious issue for this team and yet he keeps writing the same old story hoping to gain attention through fear.. Sadly, many people here and fans around the League continue to take the bait

Edited by Colin226

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Maybe in 2010 - 2011 but I don't recall heavy discounting this past season.. They did a bunch of small promos like they normally do (Groupons and things) but nothing major I thought.. They were selling too well to need discounts

 

There was heavy discounting this year.  Especially the first 10 home games I was finding tickets for at least half off every game from LivingSocial or Groupon or just those group tickets.  It was more than last year, but still not like 2010-11 where they were literally giving out tickets for free.

im just scared that the Devils will have to move because of all this financial sh!t.

 

They won't so don't worry.

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Kosman's track record is borderlining on actual slander against the organization. I think he could be sued for the amount of incorrect alarmist stories he's written about the Devils in the past. I'm taking this with an extremely tiny grain of salt.

Edited by DJ Eco

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I recently read somewhere that he's still talking to that guy from Calgary to sell the team. I don't remember where I saw it though so it could have been like HockeyBuzz or something like that. Could also have some truth to it though.

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Posted this on HF:

You have to admit their articles leading up to the trade deadline last season were such a joke and total garbage.. They had to be lying then.. I'll paraphrase from memory:

- August 2011: Devils can't afford Parise. He'll be traded soon

- November 2011: Status quo. Trade coming soon due to finances

- Febraury 2012: Trade deadline looming. Source says team will absolutely trade Parise before the deadline. Can't afford him

- A day before trade deadline: Mystery investors from Toronto have appeared! Looks like Parise will stay! Gloominess fading...

- 2 weeks after trade deadline: Mystery investors didn't realize the NHL conducts investigations into prospective owners. (I guess somehow they didn't know and Jeff thought if he didn't mention it to them, maybe the NHL would forget too). Parise is a goner after the season for sure. Gloominess rising!!

Parise did leave, but Kosman was wrong about it the whole way. All along he said the Devils were shopping Zach due to finances but they clearly had no intentions of that. They even made a big offer to Parise but we know he left for the bonuses, his home state, and Sutter

Not saying that some of this financial stuff isn't true, but the "doom and gloom" keeps coming from one reporter and yet where are the terrible effects? All that's happened is Jeff has taken full control of the team as approved by the League.. Spending on salaries has yet to plummet to the cap floor and we just finalized a plan for some extra parking revenue

To the people who say "well he's making so much noise about it that it must mean he's on to something" I mean at this point his entegrity is pretty much on the line here and he has to keep making noise otherwise it proves he's been lying.. Wouldn't be surprised if this started as a potentially big story, he ran with it, situation resolved itself far better than his "sources" expected, and now he's got to continue on to save face.. Again, if this has been such a huge issue for 2 years, where are the effects? I need to see it to believe it, but its been business as usual since

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Maybe in 2010 - 2011 but I don't recall heavy discounting this past season.. They did a bunch of small promos like they normally do (Groupons and things) but nothing major I thought.. They were selling too well to need discounts

 

 

I know I got a deal for three mezzanine tix that would ordinarily cost $70 to $80 each for $30. 

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Que?

 

what he's saying, and what is 100% true is that there are plenty of financial reasons to miss a payment or push something off.

 

the whole reason JVB allowed everything to happen the way that it fell out was that he had incredible leverage. CIT, the loan holder absolutely didn't want him going bankrupt. It would leave them in an awful position. There are lots of reasons for this which i'm not in the mood to go through. they let him restructure favorably because it put them in a better position if he defaulted again.

 

he's not defaulting - he stretches his dollars and makes the best financial deals he can. JVB is no idiot and he doesn't give a sh!t if the Post smears his name and says he's got no money. they were going to give parise $90+MM last year. they spent $60+MM prorated this past year. They'll do the same thing again this year.

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