Why Lou Lamoriello Has Been Quiet This Off season
Posted 15 August 2012 - 11:56 AM
Contrary to Commissioner Bettman's beliefs, Vanderbeek has managed to pay off $57 million of his debt (via the New York Post). His deadline to fully repay the debt ends August 14.
Although Vanderbeek is currently $22 million short, he will most likely be granted an extension after showing competency in paying back his loans.
Nothing is official yet, but it seems Vanderbeek will live to fight another day as the owner of the Devils. However, this precariousness that the Devils organization has always endured needs to change.
Money issues ultimately interfere with the works of Lou Lamoriello and head coach Pete DeBoer, who are trying to do their jobs with the resources at hand.
With these financial burdens, it is not feasible for Lamoriello to overpay for a one-year contract like the Hurricanes did with Alexander Semin.
"Quite frankly, all the players are getting paid too much and all the contracts are too long," general manager Lou Lamoriello said. "But if you want to compete in this market and you want to win, there are some things you have to do."
Posted 15 August 2012 - 12:14 PM
Edited by Zubie#8, 15 August 2012 - 12:19 PM.
Posted 15 August 2012 - 12:29 PM
Posted 15 August 2012 - 01:04 PM
TG's article on this a few days ago seems to be the most comprehensive and logical report on where things stand to date. He basically said that the debt has been paid down to $18 million, and JVB has already secured an investor to take part of the Brick City share and is looking for another to absorb the rest. I trust TG to actually checks his facts before reporting them like a true journalist would.
Posted 15 August 2012 - 02:29 PM
But, since I really have no good info, I'm just going on gut.
Posted 15 August 2012 - 02:37 PM
Posted 16 August 2012 - 10:16 AM
Edited by third man in, 16 August 2012 - 02:54 PM.
Posted 16 August 2012 - 10:27 AM
IN LOU WE TRUST @Manta04
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