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Fox 29 Philadelphia Confirm Devils sold to Josh Harris

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Not surprised to see Vanderbeek keep a minority stake, but he's essentially out of the picture as far as management/operations and while I'm grateful for his desire to keep the Devils in Jersey and the whole Newark arena thing, the former is probably a good thing. Wouldn't even be surprised if his financial "stake" is of the 3-5% percent variety to try and recoup some money and then dump the remaining stake when things turn around.. 

I do wonder what the ownership change will have down the line here in terms of GM succession and other front office changes/transitions here over the next year or two.

 

I doubt it has an effect - when Lou goes, unless he goes badly, I think he'll be able to have a say in his successor.  Another FWIW, but Rod Thorn was in the 76ers front office up until this summer, and he and Lou both spoke really highly of one another when they were under the Yankeenets umbrella.

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Lou is already grooming his son Chris Lamoriello, who is the GM of Albany. Either to take over here or for another NHL job

 

Also I believe that when ownerships changes hands, be it from McMullen, YankeeNets, etc, Lamoriello is always working behind the scenes to make sure the infrastructure that he has put into place from 1987 onward cannot be meddled with to certain extent by the incoming owner. Basically what I'm trying to say is that Lou likely always negotiates an amount of autonomy and puts protections in place. That's why Lou is always left alone and no matter who owns the team...everything pretty much always stays the same. How many instances in the past 26 years have the owners really VISIBLY overstepped Lou. The Kovalchuk signing. That's pretty much it.

 

Also I feel there is no chance Lou retires before 75. And it wouldn't shock me to see him remain on as GM until 80.

Edited by '7'

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Lou is already grooming his son Chris Lamoriello, who is the GM of Albany. Either to take over here or for another NHL job

 

Also I believe that when ownerships changes hands, be it from McMullen, YankeeNets, etc, Lamoriello is always working behind the scenes to make sure the infrastructure that he has put into place from 1987 onward cannot be meddled with to certain extent by the incoming owner. Basically what I'm trying to say is that Lou likely always negotiates an amount of autonomy and puts protections in place. That's why Lou is always left alone and no matter who owns the team...everything pretty much always stays the same. How many instances in the past 26 years have the owners really VISIBLY overstepped Lou. The Kovalchuk signing. That's pretty much it.

 

Also I feel there is no chance Lou retires before 75. And it wouldn't shock me to see him remain on as GM until 80.

 

Chris Lamoriello would be a complete disaster and nepotism if there ever was one.

 

Let's be honest, though, in terms of what's going on. 

 

Josh Harris is a whole other creature here. We don't know the extent that Lou has talked with or gotten to feel out Harris as a person and potential boss. Having said that,

this is the first time since 1987 where Lou might not have that autonomy he's enjoyed or the security. He enjoyed an family-like relationship with JM, the Yankee-Nets didn't want to rock the boat with a franchise that was in the middle of a successful run and he had a friendship/partnership type role with VBK where the two had a mutual respect for one another with the same visions (sans Kovalchuk). As much as LL is a HOF executive on his own merit, he's also had tremendous fortune in terms of working for those owners and the relationships thereof.

 

One thing is for certain, if Harris' view of the franchise is vastly different, LL is not making it to 71 nevermind 80.

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One thing is for certain, if Harris' view of the franchise is vastly different, LL is not making it to 71 nevermind 80.

 

Doubtful. Lou's a legend for a reason. Very few owners are stupid enough to fire a guy like that.

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Doubtful. Lou's a legend for a reason. Very few owners are stupid enough to fire a guy like that.

 

Fired? No. Never happen in that sense.

 

If Josh Harris' view of the New Jersey Devils going forward isn't something that LL is prepared to be a part of, his time will come to an end.  

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Doubtful. Lou's a legend for a reason. Very few owners are stupid enough to fire a guy like that.

 

New ownership. Anything is possible. 

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I'm not surprised the bid was closer to $300 mill, which is significantly over the valuation. Once the arena debt is under control the team can be a cash cow with the arena revenue terms in their favor. Just gotta make the playoffs consistently and Harris should be a happy man.

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Doubtful. Lou's a legend for a reason. Very few owners are stupid enough to fire a guy like that.

 

If the team fails to make the playoffs again, 3 out of 4 years on top of losing both Parise and Kovy, then it would be stupid for him NOT to intervene IMO. As stated, it's new ownership. He's gonna familiarize himself with how the team has fared recently.

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If the team fails to make the playoffs again, 3 out of 4 years on top of losing both Parise and Kovy, then it would be stupid for him NOT to intervene IMO. As stated, it's new ownership. He's gonna familiarize himself with how the team has fared recently.

 

Any owner who has an interest in having the Devils be a profitable enterprise is going to look at losing Kovalchuk as a positive.  Any owner WITHOUT an interest in having the Devils be a profitable enterprise will soon find better options on which to spend money.

Edited by Triumph

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Ok we get it guys. No sources are just rumor mongering. Let's dial the vitriol back a bit.

+1 for the use of a fancy word.

 

Happy if JVB sticks around. Unhappy it's an owner linked in any way to Philthadelphia.

 

 

:rant: 2 in a row!

Edited by Masked Fan

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It is good that he has/had family ties to Newark.

 

I like this bit too

 

 

Under Harris, the Sixers’ attendance has risen from about 14,000 a game to 17,000, mainly through improved marketing and lower ticket prices, the associate said.

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The lost revenue on luxury suites is going to be tough to turn around. It just goes to show how little corporate support the Devils get. It is pretty much the exact opposite of the Rags and Knicks, who willingly decreased their attendance by 1000 seats to get more luxury boxes in their building.

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Wonder what the ST sales have been like this summer. Even with Kovy gone sales should be good with the draft and outdoor game.

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If the team fails to make the playoffs again, 3 out of 4 years on top of losing both Parise and Kovy, then it would be stupid for him NOT to intervene IMO. As stated, it's new ownership. He's gonna familiarize himself with how the team has fared recently.

Losing Parise and Kovy was a good thing from a contract perspective. Not saying it doesn't hurt in the short term, but anyone with an interest in the long term future of the team wouldn't want those albatross deals on the books.

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Its unfortunate that teams these days actually need those damn luxury boxes. Half the time they're never used, the other half they're used by people who barely know what's going on in the game, they're just there to schmooze and talk business. Eating gourmet meals, sitting in their own private area away from the fans like they're somehow above everyone else and not even paying attention to the game on the tvs in the box. Why bother to go to the game? Might as well have a corporate party at some fancy restaurant and have the game on in the background. It's like people who come to the game and buy a ticket just to sit at the Goal Bar and watch the game on the TV rather than just get a beer at the concession stand and bring it to their seat. Why go to the game if you're not going to actually experience the game?

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The $8 million lost on luxury suite sales has to change though.

 

It doesn't make sense to characterize that as a loss - it sounds like it's revenue the Devils aren't earning.  From the perspective of assuming that every contest will be a sell-out, sure, but I doubt much can be done about changing that.

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Its unfortunate that teams these days actually need those damn luxury boxes. Half the time they're never used, the other half they're used by people who barely know what's going on in the game, they're just there to schmooze and talk business. Eating gourmet meals, sitting in their own private area away from the fans like they're somehow above everyone else and not even paying attention to the game on the tvs in the box. Why bother to go to the game? Might as well have a corporate party at some fancy restaurant and have the game on in the background. It's like people who come to the game and buy a ticket just to sit at the Goal Bar and watch the game on the TV rather than just get a beer at the concession stand and bring it to their seat. Why go to the game if you're not going to actually experience the game?

I scored a free ticket to a luxury box at a Yankee game last year. It was awesome -- open bar, great food -- but I had a better time watching a couple weeks later from the nosebleeds. It's tougher to get into the game in the box, even if you're a fan.

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Wonder what the ST sales have been like this summer. Even with Kovy gone sales should be good with the draft and outdoor game.

At the STH relocation event in June the host of the event said they were nearing 11,000 season ticket holders which is the highest they have ever had.

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I scored a free ticket to a luxury box at a Yankee game last year. It was awesome -- open bar, great food -- but I had a better time watching a couple weeks later from the nosebleeds. It's tougher to get into the game in the box, even if you're a fan.

 

Funny you should say that...I agree, the experience becomes more about the perks that come with the luxury box that it does about the reason you actually WENT to the damned game in the first place...distractions galore.  I'm happier being in an upper deck seat and chowing down on a couple of overpriced footlongs, a sack of overpriced fries, and chugging some overpriced soda.  If I want distractions, Iike readily available food and other crap, I can watch the game in my 'cave at home.   

 

And I really hope the ownership situation comes to end soon...just sick of it all.

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They should sell individual tickets to suites for games, like they do for some concerts.. Do it for a few suites if they aren't sold by a week or 2 before the game.

 

I find it hard to believe that, in this area (NJ especially), we don't have enough businesses with money to buy suites.. Panasonic really should get one with all the tax credits they got for moving to Newark.. And maybe Harris has some connections with decision makers in NY.. Some people have loosely speculated that maybe, with Jeff gone, a new owner who works in NY might do some promoting across the river

Edited by Colin226
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They should sell individual tickets to suites for games, like they do for some concerts.. Do it for a few suites if they aren't sold by a week or 2 before the game.

I find it hard to believe that, in this area (NJ especially), we don't have enough businesses with money to buy suites.. Panasonic really should get one with all the tax credits they got for moving to Newark.. And maybe Harris has some connections with decision makers in NY.. Some people have loosely speculated that maybe, with Jeff gone, a new owner who works in NY might do some promoting across the river

Panasonic does (or at least did) have a box at the rock. Reason I know is that I was in it because they gave tickets to my workgroup at my work since we gave them a ton of business over the previous few years. Free food, booze and all and it was great but they lost to the thrashers that game pretty badly. I think it was during the 09-10 season if I remember right.

It doesn't make sense to characterize that as a loss - it sounds like it's revenue the Devils aren't earning. From the perspective of assuming that every contest will be a sell-out, sure, but I doubt much can be done about changing that.

True but I bet JVB would have really liked that revenue and might be at least in a lesser world of hurt than he is now.

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Last year for one game my dad (STH) got an email about 50% off a luxury suite to a game vs. Winnipeg and we basically had a catered party. It was a pretty spectacular experience. Although it was crazy expensive (even half off), we'd still consider doing it once a year or two because of how great it was. I wish they'd sell individual suite tix.

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And I really hope the ownership situation comes to end soon...just sick of it all.

This is exactly how I feel. I can't wait to move on from all this nonsense.

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