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Devils Financial Woes on Verge of Being Solved?


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#41 NJDevs4978

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Posted 08 June 2012 - 11:02 AM

David Einhorn was willing to buy the Mets? :noclue:


Can't believe you missed that one lol. Yeah, supposedly he was going to purchase part of the team and pay down the debt, and if the Wilpons didn't pay back the loan by a specific date, he could buy the team for cheap, but it fell through, probably because things were improving for the Wilpons in court and they backed out.
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#42 sundstrom

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Posted 08 June 2012 - 11:05 AM

Correct me if im wrong, but isnt the whole financial situation the reason we didnt do much last free agency and started dropping cap space (white, rolston, hunter). I know they wanted to get younger, but i thought money had alot to do with it. If their money problems get settled before free agency wouldnt that enable the devils to actually spend some money to resign parise, or try to get suter, or pick up any other player out there?


moves last year had much more to do with cap space and roster construction then they did with actual dollars. a long term deal wasn't put in place for parise for two major reasons - uncertainty over the future of the franchise (gilfilan/chambers would not sign off on any long term deal as they wanted to get out) and the fact that parise was coming off a major knee injury and neither side knew what kind of player he'd be.
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#43 GoArmySports

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Posted 08 June 2012 - 11:19 AM

Can't believe you missed that one lol. Yeah, supposedly he was going to purchase part of the team and pay down the debt, and if the Wilpons didn't pay back the loan by a specific date, he could buy the team for cheap, but it fell through, probably because things were improving for the Wilpons in court and they backed out.


For cheap? I think the deal was the Wilpon's had to pay him back or he takes the team over for $1!!!
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#44 Legion15

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Posted 08 June 2012 - 11:33 AM

Perhaps to avoid the embarrassment of having a Stanley Cup finalist declare bankruptcy a day after the season is over.



seems like the league is already embarrassed we're in it right now in the first place
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#45 RedArmy8

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Posted 08 June 2012 - 11:35 AM

His Apprentice show also makes more money from sponsors than even American Idol from what I hear. This mostly due to the sh!tload of product placements in each episode.


That sounds like a Trump-talk-esque crock of sh!te. The Apprentice is a low rated program that has been on the verge of cancellation for the past three seasons, but NBC has nothing to replace it. Product placements only go so far but I would surmise that American Idol probably makes more revenue in its soft drink product placement alone than all the "Apprentice" revenue combined.
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#46 DevsMan84

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Posted 08 June 2012 - 12:01 PM

That sounds like a Trump-talk-esque crock of sh!te. The Apprentice is a low rated program that has been on the verge of cancellation for the past three seasons, but NBC has nothing to replace it. Product placements only go so far but I would surmise that American Idol probably makes more revenue in its soft drink product placement alone than all the "Apprentice" revenue combined.



I read this in an article about 2 years ago in Forbes or some other publication like that. The ratings for the Apprentice shot up a little bit when he introduced Celebrity Apprentice, but compared to the rest of the reality shows it sits pretty much near the middle of the pack. However they rake in the most amount of sponsor money than most, if not all the other reality shows.

The reason why NBC has not replaced the show but has replaced others with similar ratings is because of the product placements. While American Idol's product placements are more in line with the judges having Coke on their cups on their judging table, every single friggin Apprentice episode has the people doing something (either creating a new jingle or ad campaign or whatever) about the stupid product or company that sponsors the show. So literally instead of every episodes have a few flashes of various products for a few seconds each on other shows, the Apprentice has hour-long commercials for a specific product every week. Companies kill for that stuff and with now celebrities doing this stuff (even if they are C or even D-list celebs), the companies still pay a lot for it.

So no, it is not Trump-talk-esque crock of sh!t.

Anyways back to the topic, I am still puzzled about if the rumors are true and it is a Canadian businessman, why would he want to invest in a money-losing franchise 500 miles away if there is no intent to move them? IDK just got bad vibes about this now.
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#47 Devils731

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Posted 08 June 2012 - 12:11 PM

Anyways back to the topic, I am still puzzled about if the rumors are true and it is a Canadian businessman, why would he want to invest in a money-losing franchise 500 miles away if there is no intent to move them? IDK just got bad vibes about this now.


I doubt the Devils lost money this year.

So Chambers kicks in $25 million to leave. New guys kick in $55 million to get in. The new guys own half of a team that may be valued at around $110 million, so they've gotten their $55 million in cash back in equity, and they get half of the arena(and half it's debt) for free. Doesn't seem like a bad deal possibly.

Prokhorov got the same type of deal with the Nets, I believe. Basically paid what the team was worth and then get the arena thrown in as a sweetener just so the old owners could be rid of the team.
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#48 Devil Dan 56

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Posted 08 June 2012 - 12:23 PM

Anyways back to the topic, I am still puzzled about if the rumors are true and it is a Canadian businessman, why would he want to invest in a money-losing franchise 500 miles away if there is no intent to move them? IDK just got bad vibes about this now.


I don't think that's too uncommon. I believe the new Phoenix ownership is made up of a few businessmen from San Jose (not sure but I remember reading that). In fact the guy Bettman wanted to sell the Coyotes to last year was also part owner of the White Sox, wasn't he? The Devils are pretty safe in Jersey for atleast the next couple of decades since they have a lease and are tied to the arena. After how hard the NHL fought to keep Phoenix, I can't see them letting the Devils go anywhere, especially after a run to the finals and major uncertainty for the Islanders.
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#49 Daniel

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Posted 08 June 2012 - 12:27 PM

I don't think that's too uncommon. I believe the new Phoenix ownership is made up of a few businessmen from San Jose (not sure but I remember reading that). In fact the guy Bettman wanted to sell the Coyotes to last year was also part owner of the White Sox, wasn't he? The Devils are pretty safe in Jersey for atleast the next couple of decades since they have a lease and are tied to the arena. After how hard the NHL fought to keep Phoenix, I can't see them letting the Devils go anywhere, especially after a run to the finals and major uncertainty for the Islanders.


Mark Cuban had no attachment to Dallas that I'm aware of, but just liked the idea of owning a basketball team.
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#50 sundstrom

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Posted 08 June 2012 - 12:28 PM

For cheap? I think the deal was the Wilpon's had to pay him back or he takes the team over for $1!!!


that was after he gave them $250MM or something like that.
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#51 Chuck the Duck

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Posted 08 June 2012 - 12:41 PM

moves last year had much more to do with cap space and roster construction then they did with actual dollars. a long term deal wasn't put in place for parise for two major reasons - uncertainty over the future of the franchise (gilfilan/chambers would not sign off on any long term deal as they wanted to get out) and the fact that parise was coming off a major knee injury and neither side knew what kind of player he'd be.


Very true. Plus, this team added payroll throughout the season with the moves for Poni and Zid, which infuriated some other teams owners and GM's since we got our share of league distributed revenues paid out to us early. Lou has said that he doesn't want to spend to the cap because he wants the flexibility to make moves during the season if need be. Also, who was out on the FA market last season that we had a realistic shot of making a run at? From what I remember, it was an incredibly weak crop, much like this season outside of Suter and Parise.

But you never hear about this stuff in the NY Post or other well respected publications in the NY metro area. Just the same regurgitation of the Post's article about impending bankruptcy.

Edited by Chuck the Duck, 08 June 2012 - 12:42 PM.

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#52 RedArmy8

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Posted 08 June 2012 - 01:14 PM

I read this in an article about 2 years ago in Forbes or some other publication like that. The ratings for the Apprentice shot up a little bit when he introduced Celebrity Apprentice, but compared to the rest of the reality shows it sits pretty much near the middle of the pack. However they rake in the most amount of sponsor money than most, if not all the other reality shows.

The reason why NBC has not replaced the show but has replaced others with similar ratings is because of the product placements. While American Idol's product placements are more in line with the judges having Coke on their cups on their judging table, every single friggin Apprentice episode has the people doing something (either creating a new jingle or ad campaign or whatever) about the stupid product or company that sponsors the show. So literally instead of every episodes have a few flashes of various products for a few seconds each on other shows, the Apprentice has hour-long commercials for a specific product every week. Companies kill for that stuff and with now celebrities doing this stuff (even if they are C or even D-list celebs), the companies still pay a lot for it.

So no, it is not Trump-talk-esque crock of sh!t.

Anyways back to the topic, I am still puzzled about if the rumors are true and it is a Canadian businessman, why would he want to invest in a money-losing franchise 500 miles away if there is no intent to move them? IDK just got bad vibes about this now.



To get off the subject: It is a crock. Celebrity Apprentice for the past three years has been setting rating lows. It was renewed for the next two seasons for next to nothing.

I think what you are referring to is that the Apprentice begs sponsors the most, it had a record 120 brand placement in one month alone, BUT that is because Trump can't charge as much as more successful shows because of the ratings and the low caliber of audience. If it was truly making as much as American Idol it would not be on the chopping block every year or would be demanding more $ from NBC, which it can't.
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The plan is to undermine the role of an independent press while constantly whining that any reportage that deviates from a staunch conservative narrative is biased … while at the same time filling the editorial vacuum that that creates by filling the propaganda juggernaut from under the guise of a news organization. And that organization would be called Fox News.

Socialism is no more impractical than capitalism - either in their purest form are ridiculous, unachievable ideals. A healthy society requires healthy doses of both.

#53 ghdi

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Posted 08 June 2012 - 01:26 PM

American Idol is tanking quicker than the Mets in September.
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#54 RedArmy8

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Posted 08 June 2012 - 01:39 PM

American Idol is tanking quicker than the Mets in September.


I don't watch American Idol, but even with a 25% decrease in ratings, it is still the number one show on TV by Households. With 18 million viewers.
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The plan is to undermine the role of an independent press while constantly whining that any reportage that deviates from a staunch conservative narrative is biased … while at the same time filling the editorial vacuum that that creates by filling the propaganda juggernaut from under the guise of a news organization. And that organization would be called Fox News.

Socialism is no more impractical than capitalism - either in their purest form are ridiculous, unachievable ideals. A healthy society requires healthy doses of both.

#55 Triumph

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Posted 08 June 2012 - 01:50 PM

Can a moderator excise the American Idol-Apprentice-Trump tangent out of this thread? Donald Trump doesn't buy bankrupt properties, he only builds them. thanks.
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#56 DevsMan84

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Posted 08 June 2012 - 01:59 PM

I don't think that's too uncommon. I believe the new Phoenix ownership is made up of a few businessmen from San Jose (not sure but I remember reading that). In fact the guy Bettman wanted to sell the Coyotes to last year was also part owner of the White Sox, wasn't he? The Devils are pretty safe in Jersey for atleast the next couple of decades since they have a lease and are tied to the arena. After how hard the NHL fought to keep Phoenix, I can't see them letting the Devils go anywhere, especially after a run to the finals and major uncertainty for the Islanders.



Thing is, the examples you mentioned have investors from an area that already has a hockey team and/or has no interest in adding another. Hamilton doesn't have a hockey team and there has been great interest for years in bringing a hockey team there. I know it is probably unlikely but still makes me a little uneasy. I guess we will find out more when they introduce him or her or them.
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#57 Vic Rattlehead18

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Posted 08 June 2012 - 02:12 PM

Its kovalchuk
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#58 Triumph

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Posted 08 June 2012 - 02:22 PM

Thing is, the examples you mentioned have investors from an area that already has a hockey team and/or has no interest in adding another. Hamilton doesn't have a hockey team and there has been great interest for years in bringing a hockey team there. I know it is probably unlikely but still makes me a little uneasy. I guess we will find out more when they introduce him or her or them.


There's already a team for sale that's way easier to move out of their current market. The Devils aren't going anywhere.
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#59 Satans Hockey

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Posted 08 June 2012 - 02:33 PM

Thing is, the examples you mentioned have investors from an area that already has a hockey team and/or has no interest in adding another. Hamilton doesn't have a hockey team and there has been great interest for years in bringing a hockey team there. I know it is probably unlikely but still makes me a little uneasy. I guess we will find out more when they introduce him or her or them.


People really need to drop the Hamilton nonsense. I'm tired of sounding like a broken record. Hamilton is one of the sh!ttiest cities I've ever been to and they have barely any business having an AHL team let alone an NHL team. It will never, ever happen.
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#60 DevsMan84

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Posted 08 June 2012 - 02:46 PM

People really need to drop the Hamilton nonsense. I'm tired of sounding like a broken record. Hamilton is one of the sh!ttiest cities I've ever been to and they have barely any business having an AHL team let alone an NHL team. It will never, ever happen.



I've heard the same thing about Newark.

But I think what Triumph said is accurate and even I said it is very unlikely this team is moving.
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