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


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#141 DaneykoIsGod

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Posted 13 September 2011 - 03:34 PM

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?


The full story isn't as rosy as the quoted excerpt makes it seem.
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#142 Satans Hockey

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Posted 13 September 2011 - 04:30 PM

Not sure if this was posted yet...

http://www.forbes.co...or-nine-months/
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#143 maxpower

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Posted 13 September 2011 - 08:38 PM

The full story isn't as rosy as the quoted excerpt makes it seem.


No, it's not, but the debt has always been there. Saying they're teetering on being auctioned off after the season is a big difference from saying they're reorganizing the situation, which is still a mess.
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#144 Amberite

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Posted 13 September 2011 - 10:37 PM

The Forbes story makes me feel even worse about this whole situation. The Devils have a higher debt than their net worth, we're in default, and Forbes confirmed that creditors can push some buttons after the season ends. I highly doubt it will ever get to that, but the fact is that the organization has some serious financial problems. We're going to be nowhere near the salary cap this season, and I think this will become a pattern in coming years until the situation is resolved. I have no problem with that, I just wonder if we can remain competitive without matching teams with higher salaries.

Edited by Amberite, 13 September 2011 - 10:38 PM.

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#145 maxpower

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Posted 13 September 2011 - 11:21 PM

The Forbes story makes me feel even worse about this whole situation. The Devils have a higher debt than their net worth, we're in default, and Forbes confirmed that creditors can push some buttons after the season ends. I highly doubt it will ever get to that, but the fact is that the organization has some serious financial problems. We're going to be nowhere near the salary cap this season, and I think this will become a pattern in coming years until the situation is resolved. I have no problem with that, I just wonder if we can remain competitive without matching teams with higher salaries.



They've had a higher debt than their net worth ever since the took out the money to start construction on the Rock. They're also going to be at $59-60M, so they're nowhere near the floor. If anything, they should stay the hell away from the cap because everytime they end up near it, 26 people get hurt and leave them with no cap flexibility whatsoever since they're in debt to LTIR for a bajillion $'s.

If they got bound like they did last year two seasons ago... no Kovalchuk unless they traded $ for $. And since half the team has NMC's...
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#146 SterioDesign

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Posted 14 September 2011 - 08:41 AM

the good thing is... were gonna have lots of cap space next season, around 25m per cap geek and not too many big players to resign except parise... even if he get around 7.5 or wtv we would still not be against the cap so
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#147 njdevil26

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Posted 14 September 2011 - 01:17 PM

To expand on the cap situation...

The players that need to be re-signed are Parise, Brodeur, Hedberg, Zharkov, Palmieri, Fraser, Corrente, Salvador, Fayne, Pelley and Janssen.

Coming OFF the books: the 1 million combined from Peters/Pandolfo buyouts. Most likely Salvador's 2.9 mil.

Brodeur will probably sign a one year deal at a reduced rate. Hedberg won't get more than he does now if he stays... and Parise will get a 1-1.5 mil raise at the most.

If the team is good this year , next year the team could have 7-10mil in cap space and be just as awesome.
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#148 SterioDesign

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Posted 14 September 2011 - 02:43 PM

To expand on the cap situation...

The players that need to be re-signed are Parise, Brodeur, Hedberg, Zharkov, Palmieri, Fraser, Corrente, Salvador, Fayne, Pelley and Janssen.

Coming OFF the books: the 1 million combined from Peters/Pandolfo buyouts. Most likely Salvador's 2.9 mil.

Brodeur will probably sign a one year deal at a reduced rate. Hedberg won't get more than he does now if he stays... and Parise will get a 1-1.5 mil raise at the most.

If the team is good this year , next year the team could have 7-10mil in cap space and be just as awesome.


Im not too sure id like to keep on signing Fraser
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