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Lou: Change of Ownership Imminent


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#61 SterioDesign

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Posted 25 July 2013 - 12:39 PM

so soon we will have get rid of our 2 russian millionaires


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#62 devlman

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Posted 25 July 2013 - 03:04 PM

Re-read what Tri wrote.  If Kovy was scoring at his Thrasher rate and had looked great doing it in his three years as Devil and was 100% healthy, yeah, maybe someone takes on the deal (though it would have required getting another lifetime-like deal coming back). 
 
But that's not what happened.  Two very "meh" seasons (by Kovy's standards), one good one (that required a lot of ice time), and two injuries.  That would have led what few teams that might have been able to take on a horrible contract to be very cautious, especially with several big-money years coming.

  

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.


You both need to re-read yourselves what was written. He said IF they had managed to pull a trade, that we would not be better off. This is simply not true. IF we somehow traded kovy and gotten ANYTHING back in return, then we wouldv beaten what we got back in real life - which was nothing. If you want to argue, financially, then that's a different story, but we were talking about the on-ice product.
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#63 Devils731

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Posted 25 July 2013 - 03:09 PM

  
You both need to re-read yourselves what was written. He said IF they had managed to pull a trade, that we would not be better off. This is simply not true. IF we somehow traded kovy and gotten ANYTHING back in return, then we wouldv beaten what we got back in real life - which was nothing. If you want to argue, financially, then that's a different story, but we were talking about the on-ice product.

 

I don't know that they're necessarily wrong.  If you have to take back another bad contract then the Devils may have been better off getting the cap space freely and signing up Jagr for 1 year and whatever else they do with it then taking on someone elses headache who may have been a net negative.

 

Basically, if you think Kovy with his contract was a negative asset then getting all his cap space back was a more positive event.  If the whole league thinks Kovy and his contract was a negative asset then the only trades you could have pulled off would be for other negative assets.  Ending up with cap space is a positive, which is better than ending up with a negative asset.

Obviously the above scenario is all predicated on what you think Kovy with his contract was worth going forward.


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#64 Colorado Rockies 1976

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Posted 25 July 2013 - 03:12 PM

Disagree devlman.  Chances are Devils would've been taking a lousy contract back.  Would you have wanted Luongo or someone else's potentially terrible contract?  I sure didn't. 

 

Anything isn't always the best thing, especially in this case.  Devils got rid of a terrible contract and didn't have to take one back in return. 

 

731 just stated it perfectly.  Kovy's contract was a negative asset and looked like it was only going to get worse, in relation to the actual on-ice returns...like I've said, it was a bad deal the second it was signed.  Getting it off the Devils' books was a positive event, even with nothing coming back.   


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#65 Triumph

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Posted 25 July 2013 - 03:12 PM

  
You both need to re-read yourselves what was written. He said IF they had managed to pull a trade, that we would not be better off. This is simply not true. IF we somehow traded kovy and gotten ANYTHING back in return, then we wouldv beaten what we got back in real life - which was nothing. If you want to argue, financially, then that's a different story, but we were talking about the on-ice product.

 

But again, that isn't correct.  You can get back less than nothing in a trade, if the commodity you are trading for is not scarce and overpriced.  If the Devils traded Kovalchuk for Mike Rupp, they are worse off, because Rupp is a terrible hockey player being paid almost 3 times the minimum.  


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#66 devlman

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Posted 25 July 2013 - 03:26 PM

I was thinking more along the lines of getting back a low draft pick. I would assume Lou is a good enough GM where he would be able to get something of value back IF a trade were to have happened. For example, despite his contract, im sure there would have been a few teams that would consider Kovy for a 6th round pick (Isles, any team trying to reach the floor). But yeah, obviously if we are getting back someone like Ilkka Pikkarainen or a traffic cone with skates on, then sure we'd be worse off. I agree, that financially, it was good not taking anything massive back for Kovy's departure.


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#67 Colorado Rockies 1976

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Posted 25 July 2013 - 03:35 PM

In a perfect world, Lou probably would've like to have gotten a mid-round pick or two, maybe even a low second-rounder...problem would've been any team that was daring to take on Kovy's albatross (I'm guessing, had Kovy remained, that's what we would've been calling his deal by Year 5 or so) would've tried to pawn off at least one bad shorter-term contract on the Devils, maybe even two. 

 

That's where Lou won big-time...he didn't have to haggle or try to fit in any bodies and salaries that he didn't really want.  He was able to decide what HE wanted to do with the newfound space. 


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#68 devlman

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Posted 25 July 2013 - 03:47 PM

Right, but the thing is there are several teams well under the cap without really ugly contracts to send back our way. So, it could have been possible to entertain the idea of trading Kovy and get, say, a low draft pick in return.

 

Did it work out in the end in our favor? I think so. The extra cap space is nice. I was only replying to the notion that if we had traded Kovy that it was absolutely certain that we would not have been better off, to which i still cant agree because there were possibilities that existed to which we could have benefited.


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#69 Devil Dan 56

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Posted 25 July 2013 - 03:52 PM

Right, but the thing is there are several teams well under the cap without really ugly contracts to send back our way. So, it could have been possible to entertain the idea of trading Kovy and get, say, a low draft pick in return.

 

Did it work out in the end in our favor? I think so. The extra cap space is nice. I was only replying to the notion that if we had traded Kovy that it was absolutely certain that we would not have been better off, to which i still cant agree because there were possibilities that existed to which we could have benefited.

 

Teams looking to get to cap floor aren't going to be willing to take on a contract with a 6.67 cap hit and 11.4 million real money. It would defeat the purpose. They would want him at the tail end, when he's making 3 million with a 6.67 hit.


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#70 Jerzey Devil

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Posted 25 July 2013 - 08:57 PM

Do we have any idea who the potential buyers are yet? Last one I remember was a guy from South Jersey or something. Wasn't there a Canadian group from Calgary too? Wendy's guy? Russians?
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#71 MadDog2020

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Posted 25 July 2013 - 09:04 PM

Do we have any idea who the potential buyers are yet? Last one I remember was a guy from South Jersey or something. Wasn't there a Canadian group from Calgary too? Wendy's guy? Russians?

Yeah the new potential buyer is a lawyer who runs a big firm down in South Jersey. I Forget his name now.

Edited by MadDog2020, 25 July 2013 - 09:05 PM.

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#72 mouse

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Posted 25 July 2013 - 09:04 PM

Right, but the thing is there are several teams well under the cap without really ugly contracts to send back our way. So, it could have been possible to entertain the idea of trading Kovy and get, say, a low draft pick in return.

 

Did it work out in the end in our favor? I think so. The extra cap space is nice. I was only replying to the notion that if we had traded Kovy that it was absolutely certain that we would not have been better off, to which i still cant agree because there were possibilities that existed to which we could have benefited.

Also, under the new CBA, with an uncertain cap going forward, I don't see many teams wanting to take a bad long term contract. Much as the Isles might take a bad short term contract, they should be assuming that they'll be competitive someday, and won't want an aging, overpaid, Kovy dragging them down (the same concern, we had until he left that kept many of us from being happy about his contract, even when he played well). These contracts are a thing of the past, and we just got out of one, something certain teams would kill for. That we did so without sacrificing any flexibility is a plus, though IMO we'll still feel the sting for a year or two, since he's a big time scorer to replace.


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#73 Jerzey Devil

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Posted 26 July 2013 - 12:04 PM

Yeah the new potential buyer is a lawyer who runs a big firm down in South Jersey. I Forget his name now.

 

Okay well at least the team stays with a NJ resident. That's cool to me even if it's not very relevant. Not that I think it's still a threat that the team relocates but I'm much more comfortable with the team being owned by someone in state. Does anyone know if this new guy this new guy a native of NJ?


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#74 oat77

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Posted 26 July 2013 - 08:53 PM

I know someone who works for him and he is apparently a big philly sports fan. So take that as you want.
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#75 DevsMan84

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Posted 26 July 2013 - 09:35 PM

I know someone who works for him and he is apparently a big philly sports fan. So take that as you want.


I think I heard that too, but I doubt he would or the NHL would allow him to move them to Philly. Hell the devils are already considered to be in their territory anyways.

Plus many owners of teams are from other areas of the Country or world and grew up rooting for other teams
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#76 The 29th Pick

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Posted 27 July 2013 - 08:58 AM

I think I heard that too, but I doubt he would or the NHL would allow him to move them to Philly. Hell the devils are already considered to be in their territory anyways.

Plus many owners of teams are from other areas of the Country or world and grew up rooting for other teams

yeah, the owner of the Minnesota Vikings grew up a Giants fan in Jersey

maybe this new owner (as a Philly fan) will want to knock down the rags as much as we do !


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#77 Colin226

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Posted 07 August 2013 - 06:13 PM

Sixers owners interested in buying New Jersey Devils, according to report

 

http://www.nj.com/si...sted_in_bu.html


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#78 Daniel

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Posted 07 August 2013 - 06:31 PM

Sixers owners interested in buying New Jersey Devils, according to report

http://www.nj.com/si...sted_in_bu.html


Harris and his ownership group are loaded. Would be good news one would think.

Edited by Daniel, 07 August 2013 - 06:31 PM.

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#79 Colin226

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Posted 07 August 2013 - 07:19 PM

Harris and his ownership group are loaded. Would be good news one would think.

 

Yes it would be great news. And I'm sure he'd love to own a team that owns the arena as well. I'm also betting that he'd have the 6ers play the Knicks and Nets up at Prudential Center for preseason games.


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#80 NJDevs4978

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Posted 07 August 2013 - 07:23 PM

I'll believe it when I see it.  The 'imminent sale' has been rumored more times than I can count in the last few years.  Right now it's as imminent as Brunner signing.


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