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Lou: Change of Ownership Imminent


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#21 Devlin

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Posted 24 July 2013 - 07:55 PM

Surprised with the Vanderbeek hate.
He risked his personal finances to keep the Devils in NJ. Hope my hometown has someone like that when our OHL team comes up for sale.

I have to agree...I'm a bit surprised too, he was a season ticket holder who had the financial system to create another big step for the Devils franchise. I know from my own experiences that owning a "small business" is no easy task and can't even imagine the complexity of taking on something as large as a sports franchise.

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Edited by Devlin, 24 July 2013 - 07:56 PM.

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#22 njd3b1ink

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Posted 24 July 2013 - 08:04 PM

I don't hate JVB, but I want him out as soon as possible. I admire that he's a big Devils fan and he did a lot for the team, keeping them in NJ but when your team is constantly dealing with reports of bankruptcy, missing payment, not being able to sign players it's time for someone new. I wish him the best and maybe he can still be a minority share holder, but for the good of the organization and the sanity of the fans we need an owner with money.
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#23 Triumph

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Posted 24 July 2013 - 08:06 PM

read your post:

you said "even if they had managed to do that, I cannot see how that would leave NJ in better shape than they're in now."

make up your mind

 

How would that leave NJ in better shape?  Luongo is owed a ton of money and is old, and his contract would also carry penalties if he retired early.  Not to mention both guys have NTCs and would have to agree to the deal.

 

aylbert:  You get charged cap recapture based on how long you had the player and how much you got a benefit from his salary being above the cap hit.  So NJ would've taken the dead cap hit they have now.


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#24 Legion15

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Posted 24 July 2013 - 08:44 PM

I like him in just to piss off Cory Booker. I hate him loads more... Mr "JVB is a huckster and a hustler".... :giggle:


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#25 maxpower

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Posted 24 July 2013 - 09:52 PM

If Vanderbeek is bouncing player checks, he's got to be gone sometime soon.  It was reported in late June, Lou's saying it - seems like it is going to happen.

 

Also re trading Kovalchuk - even if they had managed to do that, I cannot see how that would leave NJ in better shape than they're in now.

 

He's not bouncing player checks because no one would sign with them.   And if he was bouncing player checks, he'd be done and the league would have the reins.   And the league wouldn't be paying that kind of money.    Obviously the debt situation is very real, but I wouldn't be surprised of some of the negative "press" that JVB gets is for some petty reason.   Look at the two key sources of it and connect the dots.


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#26 95Crash

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Posted 24 July 2013 - 10:11 PM

Surprised with the Vanderbeek hate.

He risked his personal finances to keep the Devils in NJ. Hope my hometown has someone like that when our OHL team comes up for sale.

 

I'm very appreciative for all that Vanderbeek's done for this organization. Getting the Devs into the Rock was huge.


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#27 Chuck the Duck

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Posted 24 July 2013 - 10:15 PM

I really like JVB. The guy is a fan, first and foremost, and put a lot on the line to get the Rock built and ensure this team remains in NJ for the foreseeable future. He also helped with fan relations during his tenure, and made being a STH a worthwhile venture (its still not perfect, but its better). He should be commended for that.

However, it is clear he is not in the financial position to be the sole owner going forward. It is time for a change in ownership to stabilize the teams financials. I just hope this consortium of lawyers are viable owners.
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#28 Zubie#8

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Posted 24 July 2013 - 10:23 PM

The hate for JVB is out of control, he did a lot for this Franchise as the post above said. He is a good guy but is pockets are not deep enough.


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#29 CarterforPresident

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Posted 24 July 2013 - 11:13 PM

As everyone has stated. So how about JV being a minority owner?
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#30 Brandon

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Posted 24 July 2013 - 11:43 PM

I won't believe this until it's confirmed by Nick Barlotta :lol: :giggle:
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#31 sundstrom

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Posted 25 July 2013 - 12:16 AM

Surprised with the Vanderbeek hate.
He risked his personal finances to keep the Devils in NJ. Hope my hometown has someone like that when our OHL team comes up for sale.


In the end, JVB did more good than bad. But the personal $ he put up was mostly leveraged lehman options that lost a great deal of their value when he took out te big loans to buy the team. His true liquid position was never that great - certainly not what you would expect of a franchise owner. It also doesn't help that he's always taken a huge "management fee" as a salary that is on the devils books keeping them in the red. Owners taking a salary is fairly common but from what I've heard, never to the extent that JVB did.
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#32 devlman

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Posted 25 July 2013 - 12:38 AM

If Vanderbeek is bouncing player checks, he's got to be gone sometime soon.  It was reported in late June, Lou's saying it - seems like it is going to happen.
 
Also re trading Kovalchuk - even if they had managed to do that, I cannot see how that would leave NJ in better shape than they're in now.


It's quite simple. Teams swap assets in a trade.
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#33 grcenter47

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Posted 25 July 2013 - 01:04 AM

We need to get an owner like Mikhail Prokhorov or the Abu Dhabi Ruling Family who owns Manchester City haha


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#34 MadDog2020

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Posted 25 July 2013 - 02:32 AM

Surprised with the Vanderbeek hate.
He risked his personal finances to keep the Devils in NJ. Hope my hometown has someone like that when our OHL team comes up for sale.


 
I'm very appreciative for all that Vanderbeek's done for this organization. Getting the Devs into the Rock was huge.

As am I. Love Vanderbeek, I wish he could stick around. It's an unfortunate situation. I'll always appreciate the risks he took in order to make sure the team stayed in Jersey.
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#35 LucifersDog

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Posted 25 July 2013 - 03:53 AM

It is time for a change.
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#36 Devlin

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Posted 25 July 2013 - 06:17 AM

It is time for a change.


Agreed, time for change and a reorganization...I just wanted to point out that hating the guy who took the franchise to a another level was a bit surprising.

I'm not saying you...just some posts I've seen lately.

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#37 MantaRay

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Posted 25 July 2013 - 06:52 AM

I appreciated the efforts of JVB.   The Rock was his doing.    I just hope we can find someone, who is a hockey person with the wealth to put an end to the bankrupcy nonsense.


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#38 Devilsfan118

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Posted 25 July 2013 - 07:19 AM

It also doesn't help that he's always taken a huge "management fee" as a salary that is on the devils books keeping them in the red. Owners taking a salary is fairly common but from what I've heard, never to the extent that JVB did.

 

Do you have a source/figure for this claim?

Not doubting you, just curious.  Had no idea he was taking a large salary.


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#39 GoArmySports

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Posted 25 July 2013 - 07:26 AM

Do you have a source/figure for this claim?

Not doubting you, just curious. Had no idea he was taking a large salary.


I remember reading this a few years back how he took a huge chunk when compared to other NHL owners but I don't remember how reliable the source was.
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#40 sundstrom

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Posted 25 July 2013 - 08:29 AM

Do you have a source/figure for this claim?

Not doubting you, just curious. Had no idea he was taking a large salary.


No written sources but certainly from people in the know. Let's put it this way, it's not some girl who saw ferris pass out at 31 flavors last night. Former lehman guys. Connections to the team, etc.
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"This team was never the same once we lost Patrik Sundstrom"- Lou Lamoriello


20082719943.png
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“They’re the ones that makes it happen,” Lemaire said. “It’s not us. It’s not me. It’s not the other guy. It’s not the guy before. It’s not the guy after. It’s them. And they have to take care of business.”
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