Jump to content

Photo

VBK gets a stay of execution?


  • Please log in to reply
23 replies to this topic

#1 NJDevs4978

NJDevs4978

    A Legend

  • Members
  • PipPipPipPipPipPipPipPipPipPipPipPipPipPipPip
  • 23,505 posts

Posted 07 September 2012 - 07:04 AM

http://www.nypost.co...P44bmnQw9hEG0UL

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.


  • 0
"The Devils have high standards, that's the difference. We have a standard to live up to every year, and a couple of teams in our area don't have the standards we do." - Pat Burns

The New Jersey Devils win Stanley Cups everywhere:
-NHL record for most road wins in the playoffs - 10-1 in '95 and 10-2 in '00
-NHL record for most home wins in the playoffs - 12-1 in '03

#2 SterioDesign

SterioDesign

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 6,967 posts

Posted 07 September 2012 - 07:21 AM

Im not sure if its good or bad
  • 0

www.SterioDesign.com

 


#3 Colin226

Colin226

    Hall of Famer

  • Contributor
  • PipPipPipPipPipPipPipPipPip
  • 6,208 posts

Posted 07 September 2012 - 07:41 AM

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, 07 September 2012 - 07:42 AM.

  • 0

Season Ticket Holder since '08 - '09
Section 226 - Row 2 - Seats 15 and 16

devildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gif


#4 lucifer91

lucifer91

    Senior Devil

  • Members
  • PipPipPipPip
  • 881 posts

Posted 07 September 2012 - 08:15 AM

If true, I see it as 2 years near the cap floor as he tries to be able to pay it.
  • 0
Posted Image

#5 DevsMan84

DevsMan84

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 8,123 posts

Posted 07 September 2012 - 08:21 AM

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.
  • 0

#6 ThreeCups

ThreeCups

    General Manager

  • Members
  • PipPipPipPipPipPipPipPip
  • 4,369 posts

Posted 07 September 2012 - 08:24 AM

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
  • 0

"I'm not drinking anymore of Lou's Kool-Aid. I'm fed up with it." - Mike Jefferson/Danton


#7 Daniel

Daniel

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,818 posts

Posted 07 September 2012 - 08:42 AM

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.
  • 0
Posted Image
I collect spores, molds and fungus.
Hello fellow American. This you should vote me. I leave power. Good. Thank you, thank you. If you vote me, I'm hot. What? Taxes, they'll be lower... son. The Democratic vote is the right thing to do Philadelphia, so do.
How do you spot risk? How do you avoid risk? And what makes it so risky?

#8 sundstrom

sundstrom

    Hall of Famer

  • Mod
  • PipPipPipPipPipPipPipPipPip
  • 8,303 posts

Posted 07 September 2012 - 08:44 AM

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.
  • 1

"This team was never the same once we lost Patrik Sundstrom"- Lou Lamoriello


20082719943.png
_________________________________________________________________
“They’re the ones that makes it happen,” Lemaire said. “It’s not us. It’s not me. It’s not the other guy. It’s not the guy before. It’s not the guy after. It’s them. And they have to take care of business.”
-
"I guess I just miss my friend" (#28)


#9 Chuck the Duck

Chuck the Duck

    All-Star

  • Members
  • PipPipPipPipPip
  • 1,599 posts

Posted 07 September 2012 - 09:03 AM

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.
  • 0
Posted Image

#10 Jimmy Leeds

Jimmy Leeds

    A Legend

  • Members
  • PipPipPipPipPipPipPipPipPipPipPipPipPipPipPip
  • 10,389 posts

Posted 07 September 2012 - 09:07 AM

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.
  • 0
I DRINK LOU-AID
Posted Image

Posted Image

Kill Mumia

#11 justdo3043

justdo3043

    All-Star

  • Members
  • PipPipPipPipPip
  • 1,042 posts

Posted 07 September 2012 - 09:09 AM

that stinks...would have rather had JVB out
  • 0
"The $297,297 Kovalchuk missed today is money he will never, ever get back. And the more cheques he misses, the better the deal is going to have to be for the players to justify him sitting out. And unlike the owners, the players can direct their leadership to get a deal done regardless of how disadvantageous it is to them."

#12 moustic

moustic

    Head Coach

  • Members
  • PipPipPipPipPipPipPip
  • 3,637 posts

Posted 07 September 2012 - 09:15 AM

Friggin' looks the same too.


VBK is a highlander...
  • 0

#13 SMantzas

SMantzas

    Assistant Coach

  • Mod
  • PipPipPipPipPipPip
  • 2,846 posts

Posted 07 September 2012 - 09:20 AM

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?
  • 0

#14 aylbert

aylbert

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 6,334 posts

Posted 07 September 2012 - 09:24 AM

VBK is a highlander...

+1 Posted Image
  • 0

image-300x225.jpg
 

| 2012 Season | NJDevs FHL Champion | 2013 Season |
| 2014 Season | 


#15 DevsMan84

DevsMan84

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 8,123 posts

Posted 07 September 2012 - 09:28 AM

VBK is a highlander...



Perhaps Kosman is really The Kurgan.

Edited by DevsMan84, 07 September 2012 - 09:29 AM.

  • 1

#16 devlman

devlman

    Head Coach

  • Members
  • PipPipPipPipPipPipPip
  • 3,976 posts

Posted 07 September 2012 - 01:25 PM

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, 07 September 2012 - 01:39 PM.

  • 0

#17 Colin226

Colin226

    Hall of Famer

  • Contributor
  • PipPipPipPipPipPipPipPipPip
  • 6,208 posts

Posted 07 September 2012 - 02:06 PM

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
  • 0

Season Ticket Holder since '08 - '09
Section 226 - Row 2 - Seats 15 and 16

devildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gif


#18 The 29th Pick

The 29th Pick

    All-Star

  • Members
  • PipPipPipPipPip
  • 1,904 posts

Posted 07 September 2012 - 02:38 PM

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.
  • 0

#19 DevsMan84

DevsMan84

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 8,123 posts

Posted 07 September 2012 - 03:12 PM

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, 07 September 2012 - 03:13 PM.

  • 0

#20 The 29th Pick

The 29th Pick

    All-Star

  • Members
  • PipPipPipPipPip
  • 1,904 posts

Posted 07 September 2012 - 04:47 PM

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.
  • 0




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users