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Devils Feeling Heat from Debt


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#1 thefiestygoat

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Posted 10 May 2012 - 10:49 AM

http://www.nypost.co...ontent=Business

Despite the team’s unexpected postseason run to the Eastern Conference finals, owner Jeff Vanderbeek, months after he began looking for a co-owner to help bail him out of an overdue $80 million debt, still hasn’t found that angel investor.

And the July 1 deadline is looming ever closer.

Beginning on that date, lenders can force the team into default.


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#2 95Crash

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Posted 10 May 2012 - 10:53 AM

Typical NY Post, trying to stir sh!t up.
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#3 Legion15

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Posted 10 May 2012 - 10:54 AM

is that all they ever report about us anymore, the debt situation?
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#4 NJDevs4978

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Posted 10 May 2012 - 10:54 AM

Devils doing well and the Rangers on the verge of elimination? Rerun the same doomsday article again.
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#5 GoArmySports

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Posted 10 May 2012 - 11:08 AM

How ironic.....
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#6 justdo3043

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Posted 10 May 2012 - 11:26 AM

i hate hearing about this
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#7 Satans Hockey

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Posted 10 May 2012 - 11:29 AM

I love the unnamed source -

“Winning doesn’t change the value,” a source said, especially since the team already has a good long-term media deal with the MSG Network.

“Playoff appearances are random,” another source said. “I don’t think anything that can happen on the ice changes the story.”


What a load of horse sh!t. Winning and playoffs = making more money. Not rocket science.
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#8 BCdevil

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Posted 10 May 2012 - 12:08 PM

I love the unnamed source -



What a load of horse sh!t. Winning and playoffs = making more money. Not rocket science.

They mean more money now but they have little effect on the value of a non-controlling 50% stake in the team. An extra $10 million to Vanderbeek is not going to solve the debt problems.

Edited by BCdevil, 10 May 2012 - 02:03 PM.

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#9 Colorado Rockies 1976

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Posted 10 May 2012 - 12:28 PM

Actually, I think it was the Knicks who were feeling the heat from, well, the Heat.

But clearly the Devils are in some deep financial sh!t...we'll find out just how deep soon enough. In the meantime I'm going to enjoy this run while it lasts and not think about this situation.
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#10 hockey3893498

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Posted 10 May 2012 - 12:35 PM

let this problem be an omen like 1995's franchise uncertainty. we know how that turned out.
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#11 Colin226

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Posted 10 May 2012 - 12:42 PM

Devils doing well and the Rangers on the verge of elimination? Rerun the same doomsday article again.


This.

Just like how their sources said Zach would be gone by trade deadline.. 2 days before, all of a sudden there is a rushed article about some mystery investors saving the day and keeping Zach (after Lou announced Zach was staying).. 2 weeks later, another article about how the investors backed out when they found out about the routine investigation that anyone buying a team would have known about beforehand (but apparently they had no idea and Jeff didn't tell them, in the hopes that the NHL would forget to do their routine procedure)

Can't wait to see what they make up next!!
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#12 mouse

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Posted 10 May 2012 - 02:04 PM

We were due for another one of these.
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#13 Neb00rs

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Posted 10 May 2012 - 02:59 PM

Typical NY Post, trying to stir sh!t up.


This.

Devils doing well and the Rangers on the verge of elimination? Rerun the same doomsday article again.



And This.

They just need to find a way to make us look bad even when we're succeeding.
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#14 Devs1965

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Posted 10 May 2012 - 03:40 PM

Tabloid... period
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#15 DevsMan84

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Posted 10 May 2012 - 03:42 PM

Whether you like it or not the fact that there is no denial from JVB is telling. Not good at all.

Where there is smoke there is fire.
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#16 Devils731

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Posted 10 May 2012 - 03:45 PM

Whether you like it or not the fact that there is no denial from JVB is telling. Not good at all.

Where there is smoke there is fire.


JVB put out his statement long ago. He doesn't need to respond to every silly update from the only source that is pushing this. You may get an update or a status quo, but it won't be telling either way.

Where there's smoke there is fire may be a phrase that should be retired with 24 hour news cycles and the internet. :lol:

Edited by Devils731, 10 May 2012 - 03:46 PM.

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#17 Devil Dan 56

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Posted 10 May 2012 - 03:46 PM

Whether you like it or not the fact that there is no denial from JVB is telling. Not good at all.

Where there is smoke there is fire.


That's fine, but a lot of teams go through this. Pittsburgh, Buffalo, Dallas, St Louis, Phoenix, etc. The NHL works hard to keep these teams where they are and to make the situation work. It's not even close to the doomsday predictions people come up with. More than likely, JVB is going to have to accept that he's going to need to allow a new part owner to make decisions with the team if he wants someone to help with the debt.
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#18 DevsMan84

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Posted 10 May 2012 - 03:49 PM

That's fine, but a lot of teams go through this. Pittsburgh, Buffalo, Dallas, St Louis, Phoenix, etc. The NHL works hard to keep these teams where they are and to make the situation work. It's not even close to the doomsday predictions people come up with. More than likely, JVB is going to have to accept that he's going to need to allow a new part owner to make decisions with the team if he wants someone to help with the debt.


That's how i see this and really this should be filed in the "sh!t that we can't do anything about" part our brains unless someone here has that much money.

I don't think it's a doomsday scenario but it's far from ideal.
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#19 Devil Dan 56

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Posted 10 May 2012 - 03:53 PM

That's how i see this and really this should be filed in the "sh!t that we can't do anything about" part our brains unless someone here has that much money.

I don't think it's a doomsday scenario but it's far from ideal.


Agreed.

Besides, they have enough of my money at this point hahaha.
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#20 Ollie McKraut

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Posted 10 May 2012 - 04:51 PM

Would be cool to have a significant stake in the Devils; I am going to start saving.
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