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#61 sammyk

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Posted 23 November 2011 - 08:56 AM

No it isnt.


Six hours too late.
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#62 NewarkDevil5

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Posted 23 November 2011 - 09:53 AM

Six hours too late.


You still have that magical touch, Sammy.
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#63 SterioDesign

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Posted 23 November 2011 - 12:21 PM

at this point its our only chance so far that this guy buys the team through bankruptcy and getting the new owner through court really kinda like the Stars did

but i'd still like Vanderbeek to be around so i dont know how it could work, but for sure his plan isnt gonna work using advanced money to pay the current bill. So it can only go downhill with just Jeff trying to do everything himself

what im wondering now... if this is all true, how fast can it happen?
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#64 DeVFaN

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Posted 23 November 2011 - 12:54 PM

This sounds like really good news for the devils. I would be surprised if this falls through, the banks would probably love to sell the arena debt if they could even get 60c on the dollar (140m vs 250m). He would force JVB out through bankruptcy if not a buyout before then, and our financial troubles would be over (read no more debt to deal with, except newark but thats a much smaller problem).

No freakin way Bettman lets JVB get away with securitizing the MSG deal, thats the same crap the dodgers owner tried, it would bleed this franchise dry for years and 87m is a joke of a return to get in exchange. JVB seems really desperate at this point, I can't imagine he'll be able to hold on to the team.

To all you guys worried about the Devils moving, no chance, we were #12 in revenues last year, we are in a good market. Our financial problems stem from the arena debt and that is about to be solved. Hopefully this is settled before Parise hits up the open market...
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#65 devlman

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Posted 23 November 2011 - 02:21 PM

Why is our arena debt so high though? The owners only put down around $100 mill. The rest came from Newark.
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#66 newarkdev01

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Posted 23 November 2011 - 02:48 PM

http://www.forbes.co...-on-the-dollar/
Dont' know if it was posted but I did a quick search on Peltz and I had no idea his daughter was in the last airbender...so weird
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#67 newarkdev01

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Posted 23 November 2011 - 02:51 PM

and honestly if you read the articles it actually quite nice for devils fans just not for the faint of heart. Either JVB reworks his debt by basically paying it down as part of a restructure or Mr Billionaire sweeps in and buys. Either way the Devils are not moving, the value of the franchise is in their rights with the arena and their TV contract which are both based on them being here.
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#68 newarkdev01

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Posted 23 November 2011 - 02:53 PM

This sounds like really good news for the devils. I would be surprised if this falls through, the banks would probably love to sell the arena debt if they could even get 60c on the dollar (140m vs 250m). He would force JVB out through bankruptcy if not a buyout before then, and our financial troubles would be over (read no more debt to deal with, except newark but thats a much smaller problem).

No freakin way Bettman lets JVB get away with securitizing the MSG deal, thats the same crap the dodgers owner tried, it would bleed this franchise dry for years and 87m is a joke of a return to get in exchange. JVB seems really desperate at this point, I can't imagine he'll be able to hold on to the team.

To all you guys worried about the Devils moving, no chance, we were #12 in revenues last year, we are in a good market. Our financial problems stem from the arena debt and that is about to be solved. Hopefully this is settled before Parise hits up the open market...

it's not the same as the dogers deal, In the dogers deal he was trying to pay off his divorce. In this deal JVB uses the TV deal to pay down team debt so that they basically are more stable, it's a situation that everyone would be happier with.
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#69 Triumph

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Posted 23 November 2011 - 03:02 PM

it's not the same as the dogers deal, In the dogers deal he was trying to pay off his divorce. In this deal JVB uses the TV deal to pay down team debt so that they basically are more stable, it's a situation that everyone would be happier with.


except that, as the forbes article notes, the league would be unhappy because that's a revenue stream denied a future owner. i don't think it's a good move for the team long-term and hope that the league doesn't allow it.
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