7 replies to this topic

[msweet]

According to the New York Post, NHL Commissioner Gary Bettman was preparing potential investors to take control of the Devils in June, disbelieving of Vanderbeek's ability to reciprocate the $77 million he owed to his investors.

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.

http://bleacherrepor...ring-off-season

[Zubie#8]

The Post always cracks me up and in this case the Bleacher Report...boo hoo the Devils didnt go Bankrupt, and assuming that Lou didnt get Semin because of money problems is ridiculous after Parise confirmed a competitive offer was given to him.

Edited by Zubie#8, 15 August 2012 - 12:19 PM.

[DJ Eco]

Yeah, the statement that Lou and DeBoer are having to "work with what they have" is BS. Lou doesn't make Kovalchukian signings every year, you're clueless if you automatically assume the financial situation is handcuffing Lou from his doing his job. This is what Lou does and the way he's always worked. Taking on Semin would have been the weird and uncharacteristic thing for him to do actually..

[Chuck the Duck]

I'm no mathmetician, but since when does $77 million-$57 million = $22 million? Gotta love wesbites like Bleacher Report. 100% accurate in their reporting, 0% of the time.

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.

[Jimmy Leeds]

After giving this thought over the last few weeks and months, I personally would prefer this team goes bankrupt just to get him out.

But, since I really have no good info, I'm just going on gut.

[crashline]

Maybe the reason Lou didn't go out and throw money around is because there was nothing too enticing about this years UFA market outside of Parise and Suter. To be honest, I'm happy we didn't go out and throw $6 mil at a guy like Semin or $16 mil at Jiri Hudler. And like others pointed out before me, since when did the Devils EVER have a mouth-dropping offseason outside of the Kovy deal. I'm perfectly content going into the season with the team we have, with plenty of cap space to re-sign guys like Clarky and Zajac, and still have money to throw at a much more attractive FA class come next summer.

[third man in]

Sometimes the best move you make is the one that you don't. I have 100% faith in Lou...no complaints this off season from me.

Edited by third man in, 16 August 2012 - 02:54 PM.

[MantaRay]

Why is Lou going to sign someone to a contract when there is a lockout looming. Better to wait and see. If there is a salary cap reduction you might see some firesales.