Jump to content

Photo

Post Mentions Bankruptcy. Forbes now says JVB has full ownership pendi


  • Please log in to reply
147 replies to this topic

#121 SMantzas

SMantzas

    Assistant Coach

  • Mod
  • PipPipPipPipPipPip
  • 2,550 posts

Posted 12 September 2011 - 04:37 PM

yes, a lot of debt is to the arena so it's "self funded" but they still need to pay back these loans. i think JVB will give it a go for a couple years w/ a purchase from Chambers/Gilfilan. it's possible that they can squeeze out profits w/ the "better marketing" that fans always call for. now that they get concession money and everything else that goes on in the arena, they can give super cheap ticket deals because those people will still spend once they're in the building. you will have many more people happy to have a full arena that may have paid a bit higher for their tix than you will people who bitch that some people are getting in cheap.

agreed. a better atmosphere= more people wanting to return to games.

then of course you have concessions, devils den etc.
  • 0

#122 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 12 September 2011 - 04:44 PM

Yeah, but they're liquidating a good deal of their in-building sales to STH. I mean, I got a $500 food card coming. I don't even think I can eat $500 worth of food in 30 or so games. :lol:

If you're teetering on doom, do you do this? Seems kinda illogical. Like I said, their behavior doesn't match the situation proposed in the article. So I wouldn't start running around in circles screaming they're doomed. I don't think they're in a good spot, and they're probably going to have to start living on a budget at bare minimum, but if bankruptcy is a legitimate option, they're not going about it right.
  • 0

#123 Colin226

Colin226

    Hall of Famer

  • Contributor
  • PipPipPipPipPipPipPipPipPip
  • 6,134 posts

Posted 12 September 2011 - 04:54 PM

Yeah, but they're liquidating a good deal of their in-building sales to STH. I mean, I got a $500 food card coming. I don't even think I can eat $500 worth of food in 30 or so games. :lol:

If you're teetering on doom, do you do this? Seems kinda illogical. Like I said, their behavior doesn't match the situation proposed in the article. So I wouldn't start running around in circles screaming they're doomed. I don't think they're in a good spot, and they're probably going to have to start living on a budget at bare minimum, but if bankruptcy is a legitimate option, they're not going about it right.


Yeah but $500 worth of food to the customer/fan actually cost the team like $100 - $125 (and some might argue that I'm being generous)
  • 0
Posted Image
Season Ticket Holder since '08 - '09
Section 226 - Row 2 - Seats 15 and 16

Posted ImagePosted ImagePosted ImagePosted ImagePosted ImagePosted ImagePosted Image

#124 halfsharkalligatorhalfman

halfsharkalligatorhalfman

    General Manager

  • Members
  • PipPipPipPipPipPipPipPip
  • 4,806 posts

Posted 12 September 2011 - 05:00 PM

Devils statement per TG

[...] that “the Devils have told their banks to get lost” [is] patently untrue.


That was the phrase that gave me hope in the article. Such a ridiculous way describe the situation, almost certainly false and casts doubt on the rest of the information contained within.

Edited by halfsharkalligatorhalfman, 12 September 2011 - 05:00 PM.

  • 0
Devils Fan: 1994-2012
Sharks Fan: 2012-?
Posted Image

#125 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 12 September 2011 - 05:00 PM

Yeah but $500 worth of food to the customer/fan actually cost the team like $100 - $125 (and some might argue that I'm being generous)


You're missing the point. They've basically assured they get no additional revenue off me this year. It's not how much it costs them, it's how much they make. If you're going into extreme penny-pinching, this is not something you should do. So to me, they don't have the look of a team that is operationally preparing to default, meaning they won't be able to borrow money to operate and have to live within their own means.
  • 0

#126 adam85491

adam85491

    Senior Devil

  • Banned
  • PipPipPipPip
  • 720 posts

Posted 12 September 2011 - 05:10 PM

Yeah but $500 worth of food to the customer/fan actually cost the team like $100 - $125 (and some might argue that I'm being generous)


Probably being generous. 500 doesn't seem impossible to go through by the way...A beer alone is 8 bucks!

Does the team make money on parking?

Lets not forget about their very decent tv deal.
  • 0

#127 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 12 September 2011 - 05:37 PM

Again, missing the point. They're foregoing revenue. If they really are on the brink, it would be epic stupidity. That's why I think their behavior isn't that of a team on the brink. At least operationally, they're okay. But the debt is a 10 ton elephant in the room. You can run from it for awhile but eventually you have to deal with it.
  • 0

#128 Colin226

Colin226

    Hall of Famer

  • Contributor
  • PipPipPipPipPipPipPipPipPip
  • 6,134 posts

Posted 12 September 2011 - 05:47 PM

Again, missing the point. They're foregoing revenue. If they really are on the brink, it would be epic stupidity. That's why I think their behavior isn't that of a team on the brink. At least operationally, they're okay. But the debt is a 10 ton elephant in the room. You can run from it for awhile but eventually you have to deal with it.


Well I knew other STH who went through their $500 in 20 games.. If you got a $500 voucher then I'm guessing you have expensive seats? For them, they're giving up like $80 to $120 worth of food to have you sign up for $4k+ in seats (and that's also probably a low number).. If giving someone $100 is what it takes for them to give you $4k+, then it's a good investment.. If those same people would have bought season tickets without the $500 voucher thrown in, then it's a poor investment.. Devils STH like to get lots of free stuff for their season tickets, so I'm guessing that for most STH the food vouchers and other free stuff are what keep them spending thousands on season tickets
  • 0
Posted Image
Season Ticket Holder since '08 - '09
Section 226 - Row 2 - Seats 15 and 16

Posted ImagePosted ImagePosted ImagePosted ImagePosted ImagePosted ImagePosted Image

#129 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 12 September 2011 - 06:07 PM

Not that expensive. I junked parking this year (because it screwed with resale, you're always starting off with a $15 loss since you can't resell them) so that plays a part, but if you factor in the "free food", I think this is the smallest invoice I've ever had. possible the 97-98 one was smaller but I don't have it lying around.

Edited by maxpower, 12 September 2011 - 06:08 PM.

  • 0

#130 Colin226

Colin226

    Hall of Famer

  • Contributor
  • PipPipPipPipPipPipPipPipPip
  • 6,134 posts

Posted 12 September 2011 - 06:16 PM

Not to derail the subject but what is the deal with STH parking? So it's $15, but what lots can you get into, and why can't you resell the pass? I assumed it was a hang tag like the Jets have for their STH, so one would think you could resell that on StubHub, Craigslist, etc
  • 0
Posted Image
Season Ticket Holder since '08 - '09
Section 226 - Row 2 - Seats 15 and 16

Posted ImagePosted ImagePosted ImagePosted ImagePosted ImagePosted ImagePosted Image

#131 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 12 September 2011 - 06:20 PM

Not to derail the subject but what is the deal with STH parking? So it's $15, but what lots can you get into, and why can't you resell the pass? I assumed it was a hang tag like the Jets have for their STH, so one would think you could resell that on StubHub, Craigslist, etc


You can sell it on stubhub but then you have to do the whole "mail the ticket" charade. Not great for quick turnarounds. And adding it in makes your price less competitive. It's not an instant sale you can do with other teams, when I went to Giants/Bears last year, I just bought a parking pass for around face value and printed it out. You can't do that with the Devils.
  • 0

#132 trailblazer

trailblazer

    Rookie Devil

  • Members
  • PipPipPip
  • 310 posts

Posted 12 September 2011 - 09:52 PM

You can sell it on stubhub but then you have to do the whole "mail the ticket" charade. Not great for quick turnarounds. And adding it in makes your price less competitive. It's not an instant sale you can do with other teams, when I went to Giants/Bears last year, I just bought a parking pass for around face value and printed it out. You can't do that with the Devils.

Especially when you can park on the street for free. Been doing it since the building opened.
  • 0

#133 overtime98

overtime98

    General Manager

  • Members
  • PipPipPipPipPipPipPipPip
  • 4,139 posts

Posted 13 September 2011 - 08:02 AM

It used to be beneficial to buy parking pass, not anymore.
  • 0
New Jersey Devils 3 time Stanley Cup Champions 1995 - 2000 - 2003!

Posted Image

#134 jonnyd91

jonnyd91

    Albany Devil

  • Members
  • PipPip
  • 158 posts

Posted 13 September 2011 - 09:02 AM

Dont know if this was posted:

http://www.nypost.co...4sfpN9d6Tss7XYP

The New Jersey Devils, which missed a $100 million principal loan payment Sept. 1, have taken a small step toward a financial recovery after principal owner Jeff Vanderbeek reached an agreement to purchase co-owner Ray Chambers’ 47-percent stake in the franchise, The Post has learned.

Read more: http://www.nypost.co...P#ixzz1XqCxdaYH


  • 0

#135 mxm262

mxm262

    Albany Devil

  • Members
  • PipPip
  • 231 posts

Posted 13 September 2011 - 09:38 AM

Dont know if this was posted:

http://www.nypost.co...4sfpN9d6Tss7XYP


That is some 24 hour turnaround. Went from the brink to suddenly almost having a deal in place?

Everybody know these things happen quickly. Crap when I refinanced my house it only took like 15 minutes.
  • 0

#136 sundstrom

sundstrom

    Hall of Famer

  • Mod
  • PipPipPipPipPipPipPipPipPip
  • 8,148 posts

Posted 13 September 2011 - 09:57 AM

Chere's Star Ledger article from yesterday actually says someone OTHER than JVB is buying out the Brick City share - but of course he's the only one reporting this.

TG is almost always the most reliable in these cases and has the official announcement from the Devils so I'll go with that...for now.
  • 0
"This team was never the same once we lost Patrik Sundstrom"- Lou Lamoriello


Posted Image
_________________________________________________________________
“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.”
-
Shameless Business Plug - Shop at Capitol Lighting and
1-800lighting.com - Use code NJDEVS10 for 10% OFF

#137 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 13 September 2011 - 01:57 PM

I think the Post writer got caught out in front and is flailing. I don't think either of his articles are true. I don't think they're immediately doomed, nor have they completed a sale.
  • 0

#138 Triumph

Triumph

    A Legend

  • Mod
  • PipPipPipPipPipPipPipPipPipPipPipPipPipPipPip
  • 26,893 posts

Posted 13 September 2011 - 02:47 PM

I think the Post writer got caught out in front and is flailing. I don't think either of his articles are true. I don't think they're immediately doomed, nor have they completed a sale.


What would writing that they've completed a sale cover up?
  • 0

http://drivingplay.blogspot.com - The blog with three first lines
 


#139 Devilzibook

Devilzibook

    Rookie Devil

  • Members
  • PipPipPip
  • 411 posts

Posted 13 September 2011 - 03:03 PM

If you could just hear all the rumors and the blabla here about the Devils coming to Quebec City... Pathetic :doh1:
As hard as I want a team here, I know the Devils will never move from New Jersey,

Edited by Devilzibook, 13 September 2011 - 03:03 PM.

  • 0
Posted Image

My name is Alex, and I am Quebecois ! Thank you.

One dream: BRING BACK THE NORDIQUES !!!


#140 maxpower

maxpower

    Hall of Famer

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 5,424 posts

Posted 13 September 2011 - 03:24 PM

What would writing that they've completed a sale cover up?


I didn't mention a coverup, I just said the writer is all over the place. One day they're teetering on the brink of auction, the next day the purchase needed to move forward is complete.

Can you believe either story?
  • 0




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users