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Fox 29 Philadelphia Confirm Devils sold to Josh Harris


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#101 Devils731

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Posted 14 August 2013 - 06:46 PM

Sounds like VBK worked out a pretty good deal for himself despite being in a weak position.


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#102 Legion15

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Posted 14 August 2013 - 06:50 PM

Bout time! :dizzy:


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#103 ghdi

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Posted 14 August 2013 - 06:51 PM

Best news of the offseason thus far. 


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#104 ZeroGravityFat

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Posted 14 August 2013 - 07:01 PM

let's go shopping :)


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#105 sammyk

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Posted 14 August 2013 - 07:18 PM

Sounds like VBK worked out a pretty good deal for himself despite being in a weak position.

 

Well, he's a highfalutin, high-class huckster and hustler after all!


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#106 Daniel

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Posted 14 August 2013 - 08:04 PM

David Blitzer, the other money man behind the deal is from Scotch Plains, which can't hurt. Sent from my iPad using Tapatalk HD
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#107 DevilNurn

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Posted 14 August 2013 - 08:07 PM

Very happy about this. Just seems to have worked out really well. And I think it will work out for Harris/Blitzer--the attendance/popularity and arena area are on the up, and they've got a brand new arena. Vanderbeek is happy, the new owners are happy, and fans can be happy we won't have to worry about any more debt reports in the NY Post.


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#108 DevilMinder

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Posted 14 August 2013 - 08:12 PM

Man, I am so sick of this offseason. I hope that is the end of the major news events. I guess in the future we all will look back and go, good god that was a good thing.


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#109 Colin226

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Posted 14 August 2013 - 08:58 PM

This is so great for the Devils.. Finally a wealthy owner who can cover the debt, market and fund the team well, and most importantly ice a cap team. Really looking forward to what Harris brings to the organization! 
 
 
devildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gif

 

:gd:


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#110 sundstrom

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Posted 14 August 2013 - 09:02 PM

spending towards the cap hasn't every really been an issue for the devils. and their marketing has been better in recent years.

 

still think this will be great


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#111 MadDog2020

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Posted 14 August 2013 - 09:59 PM

I couldn't be more thrilled by this. This was the best-case scenario. A billionaire owner, debt taken care of, a clean slate. And as an added bonus to all of this, a cherry on top of the sundae, the city of Philadelphia is ready to riot about it. I rest a happy man tonight.
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#112 msweet

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Posted 14 August 2013 - 10:04 PM

I couldn't be more thrilled by this. This was the best-case scenario. A billionaire owner, debt taken care of, a clean slate. And as an added bonus to all of this, a cherry on top of the sundae, the city of Philadelphia is ready to riot about it. I rest a happy man tonight.

bingo...and add in a owner with Newark roots.


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#113 MadDog2020

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Posted 14 August 2013 - 10:13 PM

I couldn't be more thrilled by this. This was the best-case scenario. A billionaire owner, debt taken care of, a clean slate. And as an added bonus to all of this, a cherry on top of the sundae, the city of Philadelphia is ready to riot about it. I rest a happy man tonight.


bingo...and add in a owner with Newark roots.

Not to mention David Blitzer is from Scotch Plains. Awesome stuff all around.
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#114 Colorado Rockies 1976

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Posted 15 August 2013 - 06:23 AM

I couldn't be more thrilled by this. This was the best-case scenario. A billionaire owner, debt taken care of, a clean slate. And as an added bonus to all of this, a cherry on top of the sundae, the city of Philadelphia is ready to riot about it. I rest a happy man tonight.

 

There's a part of me that's looking for some negative, just because I guess I don't want to be blindsided by anything (all of this almost seems too good to be true...the Post must be hating this), but I really don't think there is one.  Sure, on some level it seems weird that this guy owns a team in Philly and one in NJ, but so what...easy to forget that John McMullen owned the Devils and the Houston Astros for a while.  Not like the Sixers and Devils are rivals anyway.  All in all, pretty hard not to be happy about this.   


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#115 P-Way Chief 11

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Posted 15 August 2013 - 06:38 AM

I agree - should be a great day for the Devils. My only fear is these guys are investment bankers, one being an MD at Blackstone, and are in this to just make money. The name of the game in private equity is to buy an undervalued asset, revamp it, make profitable, and later sell it. This isnt necessarily a bad thing; however, I hope they are in it for the long haul and truly care about the Devils.
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#116 gardenstatepkwy

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Posted 15 August 2013 - 08:02 AM

Harris will be on the Glen Macnow show on 94/610WIP Philly at 3PM today.


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#117 LucifersDog

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Posted 15 August 2013 - 08:18 AM

I agree - should be a great day for the Devils. My only fear is these guys are investment bankers, one being an MD at Blackstone, and are in this to just make money. The name of the game in private equity is to buy an undervalued asset, revamp it, make profitable, and later sell it. This isnt necessarily a bad thing; however, I hope they are in it for the long haul and truly care about the Devils.

 

They will keep the arena and the entertainment business and sell off the Devils for relocation if the Devils don't cut it,


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#118 Chuck the Duck

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Posted 15 August 2013 - 08:45 AM

Anyone else get the feeling that this major annoucement at 11 am this morning is going to be about a Twitter "free ticket" giveaway to the LIberty Hockey Tournament in October?


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#119 newarkcupparade

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Posted 15 August 2013 - 08:46 AM

They will keep the arena and the entertainment business and sell off the Devils for relocation if the Devils don't cut it,

 

I would tend to think they would like to have a team there who is going to bring business in to the arena for a set 41 events a year as opposed to leaving all that opportunity open...


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#120 Chuck the Duck

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Posted 15 August 2013 - 08:59 AM

This is so great for the Devils.. Finally a wealthy owner who can cover the debt, market and fund the team well, and most importantly ice a cap team. Really looking forward to what Harris brings to the organization! 
 
 
devildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gifdevildance.gif

 

:gd:

 

Overall, I think (and hope) this will be a good thing.  But, to be honest, the Devils have always had wealthy owners.  McMullen was the owner of a major shipping conglomerate and had a net worth in the high hundreds of millions, if not billions of dollars.  YankeeNets was a compilation of owners including George Steinbrenner, Ray Chambers, and Peter Simon (of Simon Malls), each worth hundreds of millions by themselves.  JVB was worth hundreds of millions before the Lehman collapse, and undoubtedly took a big hit in lost stock that he was forced to retain when they went bankrupt.  That, combined with opening the Rock at the time his financial fortunate took a major hit, is likely what led to the financial state this team currently finds itself in. 

 

I have no idea what to expect from Harris as our new owner.  Hopefully, he will follow through and continue to develop the area around the Rock and will work to bring more/better events to the arena.  As for the Devils, I hope he bankrolls the team well, but stays out of the decisions regarding the on ice product which reports are he has vowed to do.  Regardless, it will be nice to stay out of the ridiculous Kosman/Forbes articles every week though. 


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