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Big Oil after Big Red?


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#21 RSC

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Posted 16 August 2012 - 10:49 PM

I'm not sure I buy it. Saying a guy from Calgary is gonna buy the Devils and move them to Quebec because he's Canadian is like saying a guy from Boston is gonna buy the Devils and move them to Albuquerque because he's American. Maybe he has ties there, maybe he wouldn't care where he put the team, but if he's not buying a team to move it back to his hometown (which he obviously isn't), why move it at all?

(Again, all of this is hypothetical anyway, the Devils aren't moving anywhere for the numerous reasons stated throughout this thread.)

So you're saying we shouldn't jump to the most radical assumption based solely on the man's nationality? Huh. Thank God the guy isn't Mexican, or someone would be suggesting that Kovalchuk's halfway to being El Capitan for the Tijuana Diablos
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#22 crashline

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Posted 16 August 2012 - 11:05 PM

So you're saying we shouldn't jump to the most radical assumption based solely on the man's nationality? Huh. Thank God the guy isn't Mexican, or someone would be suggesting that Kovalchuk's halfway to being El Capitan for the Tijuana Diablos


I think you guys are over-reacting here. I'm simply stating that the guy is from Canada. It's no secret that hockey is #1 there and that it draws a larger market. Chill.
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#23 njdevil26

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Posted 17 August 2012 - 08:53 AM

Interesting to see the one commenter claim that Vanderbeek is one of the worst NHL owners of all time.

I know it's common practice for fans to hate on the execs, owners, and so on... but we've all loved JVB for YEARS around here. Without anyone here including myself being able to say 100% that this is all his fault... do we start turning on him? I'm not sure. The biggest impact he's had on this team so far (according to the common fan) is he pushed for the Kovalchuk signing. Many were skeptical at first... but it's hard to find someone that doesn't like Kovy right now given the guy's defensive revelation, heart and soul, talent, and dedication he has for this time... plus his contract is no biggie compared to the BS thrown to Richards, Parise, Weber, and Suter.

So what can we be mad at him for? Seems like the trouble is coming from the city of Newark not wanting to honor the current agreement and the minority owner group giving JVB a hard time. It just looks like Jeff's being a typical prideful business man and doesn't want to take it up the ass from the city and the other owners.
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#24 sundstrom

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Posted 17 August 2012 - 08:58 AM

Interesting to see the one commenter claim that Vanderbeek is one of the worst NHL owners of all time.

I know it's common practice for fans to hate on the execs, owners, and so on... but we've all loved JVB for YEARS around here. Without anyone here including myself being able to say 100% that this is all his fault... do we start turning on him? I'm not sure. The biggest impact he's had on this team so far (according to the common fan) is he pushed for the Kovalchuk signing. Many were skeptical at first... but it's hard to find someone that doesn't like Kovy right now given the guy's defensive revelation, heart and soul, talent, and dedication he has for this time... plus his contract is no biggie compared to the BS thrown to Richards, Parise, Weber, and Suter.

So what can we be mad at him for? Seems like the trouble is coming from the city of Newark not wanting to honor the current agreement and the minority owner group giving JVB a hard time. It just looks like Jeff's being a typical prideful business man and doesn't want to take it up the ass from the city and the other owners.


I haven't exactly turned on him. But if he doesn't have the $ to run the team towards the high end of the cap, I want someone who can.
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#25 ZeroGravityFat

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Posted 17 August 2012 - 09:38 AM

yea i have nothing against him or his involvement, he just doesn't have the cash to run a sports team of a sport that doesn't draw enough cash to run smoothly outside the traditionally cruise control markets.
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#26 Chuck the Duck

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Posted 17 August 2012 - 09:39 AM

The Stars' deep-pocketed new owner from Canada didn't move the team or has plans to. Just because he's rich doesn't mean he's gonna move a team or wants to. Furthermore no one on here and elsewhere has provided a good enough reason as to why the Devils should move.


Short term, they are locked into NJ for all the reasons previously mentioned. Long term is a different story. The reason why any owner would want to move this team is the fact that it loses money, year after year, and cannot sell-out its building despite being one of the top NHL clubs for the past 18 years. Would the oil tycoon purchase this team with the intention of moving them in 10-15 years - I doubt it, but stranger things have happened.

We've always had owners with significant ties to NJ. Our previous owners lined up like this: JVB is a fan who lives in NJ (will do anything to keep control of the team and in the arena he helped create), Chambers/YankeeNets (purchased team to move them with the Nets to Newark and have them as staples on the YES network to fill winter programming), McMullen (moved team to NJ, where he resided. Yet he still came an inch away from moving the team to Nashville in 1995 because we were losing money). Without an owner having that emotional tie to the state/area, the only thing preventing him from moving this franchise is money. And if this guy has the cash to do it, and a strong feeling that the team would be better served somewhere else, there is little anyone could do to stop it.

I remember reading a report (I believe in Forbes a few months ago) that the Devils ranked #12 as far as generating revenue in the NHL. That's not bad and, when combined with the TV contract and arena lease deal, should entice any owner to keep the team here long term once the debt issue is settled. There is no reason why this team shouldn't be financially viable.
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#27 njd3b1ink

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Posted 17 August 2012 - 09:48 AM

Im just curious, but does anyone know if this guy is a fan of any specific team, or if hes just a hockey fan in general?
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#28 Zubie#8

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Posted 17 August 2012 - 09:54 AM

Short term, they are locked into NJ for all the reasons previously mentioned. Long term is a different story. The reason why any owner would want to move this team is the fact that it loses money, year after year, and cannot sell-out its building despite being one of the top NHL clubs for the past 18 years. Would the oil tycoon purchase this team with the intention of moving them in 10-15 years - I doubt it, but stranger things have happened.

I am pretty sure the Devils made a profit every year except one since they moved to Newark, I may be wrong. Although they are making money they are not making it fast enough to pay off the loans.

EDIT: The only year they were in the negative for operating income while in Newark was 2007.

Edited by Zubie#8, 17 August 2012 - 09:59 AM.

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#29 Chuck the Duck

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Posted 17 August 2012 - 10:39 AM

I am pretty sure the Devils made a profit every year except one since they moved to Newark, I may be wrong. Although they are making money they are not making it fast enough to pay off the loans.

EDIT: The only year they were in the negative for operating income while in Newark was 2007.


Really? I thought I remember reading an article in the Ledger a few years back where JVB said the team lost money but almost broke even after bowing out in the first round against the Flyers, and that things were improving from the first few years at the Rock. My assumptions are based strictly off of things I've read in the local NJ newspapers, but, if what your saying is true, then that is good news.
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#30 Zubie#8

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Posted 17 August 2012 - 10:44 AM

Really? I thought I remember reading an article in the Ledger a few years back where JVB said the team lost money but almost broke even after bowing out in the first round against the Flyers, and that things were improving from the first few years at the Rock. My assumptions are based strictly off of things I've read in the local NJ newspapers, but, if what your saying is true, then that is good news.

Im wrong too haha, I wasnt looking at the latest team evaluation from forbes, Devils lost 15M in 2007 and 6.1M 2011, and made 6.9 in 2009, 1.4 in 2010, and 1.9 in 2008. So far the team lost 10.9 million dollars in operating costs since they moved to Newark but that is not including this past season which should wipe that number away.

http://www.forbes.co...-jersey-devils/

Edited by Zubie#8, 17 August 2012 - 10:44 AM.

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#31 DJ Eco

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Posted 17 August 2012 - 12:23 PM

Im just curious, but does anyone know if this guy is a fan of any specific team, or if hes just a hockey fan in general?



Yes, he's a season ticket holder of the Calgary Flames, as well as a Calgary WHL team.
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#32 DJ Eco

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Posted 17 August 2012 - 12:28 PM

You guys that are saying he'll move the team to Canada are jumping the gun. The guy's rich because he's a businessman. Businessmen make deals, they buy and manage assets, they make investments. Buying a hockey team is an investment. It doesn't always have to be a "NEW JERSEY PRIDE!" type guy to run the team. An outsider might have a better insight on what can make this a more marketable and better-run organization.

No reason a Western Canadian oilman would buy the New Jersey Devils in an effort to move them to a French Canadian city, that defies logic. Like someone said already, it's like claiming someone from Boston will move the team to New Mexico, but if Boston and Albuquerque had hundreds of years of different historical and cultural French/English development haha..
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#33 njd3b1ink

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Posted 17 August 2012 - 12:29 PM

Yes, he's a season ticket holder of the Calgary Flames, as well as a Calgary WHL team.

Ok, i was just wondering cause if he is a legitimate hockey fan i can see him buying the team for the reason of winning a stanley cup, which is basically what any hockey fan dreams of their team doing. If he wasnt a hockey fan i think it would be all about the money and he would be more likely to move the team to a more profitable area. If his intentions are to buy a team that can compete every year you cant go wrong with the Devils.
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#34 sundstrom

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Posted 17 August 2012 - 02:41 PM

Im wrong too haha, I wasnt looking at the latest team evaluation from forbes, Devils lost 15M in 2007 and 6.1M 2011, and made 6.9 in 2009, 1.4 in 2010, and 1.9 in 2008. So far the team lost 10.9 million dollars in operating costs since they moved to Newark but that is not including this past season which should wipe that number away.

http://www.forbes.co...-jersey-devils/


forbes should not be seen as gospel on this. What it also doesn't show is what the owner's "salary" is.
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#35 CarpathianForest

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Posted 17 August 2012 - 06:06 PM

I'm not sure I buy it. Saying a guy from Calgary is gonna buy the Devils and move them to Quebec because he's Canadian is like saying a guy from Boston is gonna buy the Devils and move them to Albuquerque because he's American. Maybe he has ties there, maybe he wouldn't care where he put the team, but if he's not buying a team to move it back to his hometown (which he obviously isn't), why move it at all?

(Again, all of this is hypothetical anyway, the Devils aren't moving anywhere for the numerous reasons stated throughout this thread.)


That would be awesome since I live outside of Albuquerque.
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#36 GA Devil

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Posted 18 August 2012 - 08:31 AM

That would be awesome since I live outside of Albuquerque.

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#37 brodeur14301991

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Posted 20 August 2012 - 11:05 AM

More fuel to the fire http://www.thefourth.../njd120820.html

some highlights "It's believed Gallacher is looking to purchase a majority stake in the franchise"

"According to one source, a deal could be achieved in the coming months, as soon as January 2013."
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#38 Devilsfan118

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Posted 20 August 2012 - 11:18 AM

I'd love for this team to be owned by a billionaire. I like JVB and how he's a fan, but..some financial stability would be nice.
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#39 NewarkDevil5

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Posted 20 August 2012 - 05:45 PM

I have no issue with Gallacher or any other billionaire purchasing the team as long as there was some kind of commitment made to keep the team in NJ for the longterm. Yes, I'm aware of the TV deal and Arena lease, but at the end of the day a billionaire can afford to pay the penalties for breaching contracts and that is a concern. Not that it would make financial sense to move a team out of those kinds of sweetheart deals, but it doesn't really make financial sense to buy an NHL team to begin with.

The things that I valued most about Vanderbeek's ownership have been his commitment to keeping the team in NJ, the improvements in fan relations and the building of the Jersey brand. These are aspects of ownership that I would be concerned about if a non-Garden Stater were to purchase the team.

Edited by NewarkDevil5, 20 August 2012 - 05:51 PM.

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#40 Devils Dose

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Posted 21 August 2012 - 10:15 AM

I have no issue with Gallacher or any other billionaire purchasing the team as long as there was some kind of commitment made to keep the team in NJ for the longterm. Yes, I'm aware of the TV deal and Arena lease, but at the end of the day a billionaire can afford to pay the penalties for breaching contracts and that is a concern. Not that it would make financial sense to move a team out of those kinds of sweetheart deals, but it doesn't really make financial sense to buy an NHL team to begin with.

The things that I valued most about Vanderbeek's ownership have been his commitment to keeping the team in NJ, the improvements in fan relations and the building of the Jersey brand. These are aspects of ownership that I would be concerned about if a non-Garden Stater were to purchase the team.

Even if a new owner declared that he planned to stay I would take it with a grain of salt if he were not to put his money where his mouth is. A release from all of the deals that tether the Devils to the PruCenter can be negotiated with enough money. But with all of the time it takes to do that negotiating and come up with arrangements for the new city, why would you declare that you're planning to leave right away? You would tell the team's fans that you're staying, keep the revenue streams flowing, and make your inquiries into moving in private. Teams only announce that they are making plans to leave when they want new, tax-payer funded arenas (Pittsburgh Penguins).
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