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Fox 29 Philadelphia Confirm Devils sold to Josh Harris


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#121 Beezer34

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Posted 15 August 2013 - 08:59 AM

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

 

The Devils have sold-out 30 of their last 39, and have averaged 17,000 over the last 50 home games.

..remind me again why I should believe this team “won’t cut it” ?? :noclue: 


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#122 Colin226

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Posted 15 August 2013 - 09:11 AM

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

 

You sound incredibly similar to NC107 on HFBoards....

 

 

I think today, JVB, the finances are intertwined between the Devils hockey team and the arena and entertainment business. I suspect the new owners will split the two and make the Devils one business standing on its own and the arena and entertainment business the other entity. That way the new owners if dissatisfied with the Devils operation can sell off for "relocation" the hockey business and they can still make money with the arena and the entertainment business.

 

Fact of the matter is that the Devils are at least break-even and the arena pretty much needs an anchor tenant. We draw top 10 in the US for average TV viewers per game and our attendance is increasing as the fan base comes of age. So I'm not sure why this is even really much of a thought right now. Technically the same situation applies to practically every sports team that owns their building as well


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#123 DJ Eco

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Posted 15 August 2013 - 09:29 AM

Essentially, you have two men, JvdB and Harris, who see the goldmine that Prudential Center is for the long-run. One man couldn't cut it with the limited funds and timeline he had (Jeff), so the other is taking over. The Devils' financial problems were owner-centric and had almost nothing to do with the value of the arena or the franchise, which remains high throughout all of this. Harris and JvdB see all the writing on the walls that we see (about the fanbase growing up, more season ticketholders, etc.) and at the end of the day, they're businessmen; this is what an investment is all about.

 

After all is said and done, I'm glad JvdB is getting a decent deal out of this. He was a good man, and above all, a New Jersey Devils fan that wanted the best for the franchise. I'm glad he could be fairly compensated and relieved of the headache.


Edited by DJ Eco, 15 August 2013 - 09:43 AM.

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#124 Triumph

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Posted 15 August 2013 - 09:34 AM

The Devils aren't moving, end of story.  You could buy a team much cheaper and move them if you wanted.  Now maybe at the end of the lease, whoever's owning the team tries to cow Newark into giving him more or he'll go somewhere else, but usually cities give in on those sorts of battles.


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#125 DevsMan84

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Posted 15 August 2013 - 09:37 AM

Essentially, you have two men, JvdB and Harris, who see the goldmine that Prudential Center is for the long-run. One man couldn't cut it with the limited funds and timeline he had (James), so the other is taking over. The Devils' financial problems were owner-centric and had almost nothing to do with the value of the arena or the franchise, which remains high throughout all of this. Harris and JvdB see all the writing on the walls that we see (about the fanbase growing up, more season ticketholders, etc.) and at the end of the day, they're businessmen; this is what an investment is all about.

 

After all is said and done, I'm glad JvdB is getting a decent deal out of this. He was a good man, and above all, a New Jersey Devils fan that wanted the best for the franchise. I'm glad he could be fairly compensated and relieved of the headache.

 

dawson_crying.jpg


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#126 DJ Eco

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Posted 15 August 2013 - 09:42 AM

dawson_crying.jpg

 

 

HAHA... DAMMIT... (How long have you been waiting for someone to slip?)..

 

JEFF.


Edited by DJ Eco, 15 August 2013 - 09:43 AM.

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#127 Legion15

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Posted 15 August 2013 - 09:46 AM

The Devils have sold-out 30 of their last 39, and have averaged 17,000 over the last 50 home games.

..remind me again why I should believe this team “won’t cut it” ?? :noclue: 

just sick of all this talk about the finances and people thinking there would be a move ANY TIME soon...


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#128 Colin226

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Posted 15 August 2013 - 09:51 AM

Live stream of press conference can be found here:

 

http://video.nhl.com...ng=en &navid=DL|NJD|home


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#129 Daniel

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Posted 15 August 2013 - 09:56 AM

The Devils aren't moving, end of story.  You could buy a team much cheaper and move them if you wanted.  Now maybe at the end of the lease, whoever's owning the team tries to cow Newark into giving him more or he'll go somewhere else, but usually cities give in on those sorts of battles.

 

Doesn't the lease run for another 20 years or something? 


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#130 Colin226

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Posted 15 August 2013 - 10:02 AM

Doesn't the lease run for another 20 years or something? 

 

Exactly.. And by then, much of our young fan base will have kids or be nearing that age. Why would the league want to move a franchise that will have a 50+ year history and tradition in a wealthy, densely packed market? They wouldn't, and the team even in it's current state is obviously attractive enough to be sold quickly to a billionaire


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#131 DJ Eco

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Posted 15 August 2013 - 10:08 AM

A list of teams most likely to move or relocate in our local area (based solely on leases and ownership deals in place):

 

1) Rangers

2) Flyers

3) Devils

4) Penguins

5) Islanders

 

It's funny how ironic Rags fans are when they make fun of us moving. By 2020, they are the most likely team in the local area to (at least) not be playing in the same arena.

 

Devils and Isles are all but locked into their homes, while the City of New York is playing chicken with the Rags to get them out (or pay).


Edited by DJ Eco, 15 August 2013 - 10:10 AM.

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#132 Daniel

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Posted 15 August 2013 - 10:08 AM

Exactly.. And by then, much of our young fan base will have kids or be nearing that age. Why would the league want to move a franchise that will have a 50+ year history and tradition in a wealthy, densely packed market? They wouldn't, and the team even in it's current state is obviously attractive enough to be sold quickly to a billionaire

 

Not to mention the fact that it's 20 FRIGGIN' YEARS away.  Who knows whether there will even be an NHL by then, much less whether every other possible market that would even want a pro hockey team will be tapped out. 


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#133 skeeter

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Posted 15 August 2013 - 10:09 AM

News 12 is carrying it live as well.
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#134 ZeroGravityFat

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Posted 15 August 2013 - 10:09 AM

so much insecurity in this community. if the coyotes didn't move, you should probably not even think the devils would move.


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#135 Daniel

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Posted 15 August 2013 - 10:12 AM

A list of teams most likely to move or relocate in our local area (based solely on leases and ownership deals in place):

 

1) Rangers

2) Flyers

3) Devils

4) Islanders

5) Penguins

 

It's funny how ironic Rags fans are when they make fun of us moving. By 2020, they are the most likely team in the local area to (at least) not be playing in the same arena.

 

The Flyers (more precisely Comcast) own their own arena.  The Penguins I imagine have the same long term lease that the Devils basically do.


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#136 Colin226

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Posted 15 August 2013 - 10:13 AM

Press conference is starting!!!!!

 

http://video.nhl.com...ng=en &navid=DL|NJD|home


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#137 DJ Eco

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Posted 15 August 2013 - 10:33 AM

The Flyers (more precisely Comcast) own their own arena.  The Penguins I imagine have the same long term lease that the Devils basically do.

 

Yep you're right, Comcast owns Wells Fargo Center and the Flyers, so I'll bump them down the list haha.. Rangers have the shortest lease/most uncertainty, Devils 2nd shortest lease, Penguins only a slight bit more I believe, Isles are in til the 2040, Flyers not sure.


Edited by DJ Eco, 15 August 2013 - 10:33 AM.

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#138 Chuck the Duck

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Posted 15 August 2013 - 10:35 AM

"I want some of Lou's special sauce." - HAHAHA!!


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#139 MadDog2020

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Posted 15 August 2013 - 11:11 AM

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Amazing time for Lou Lamoriello, the Devils and their fans. Deep-pocketed owners who will invest in hockey and exec talent.
Truly a GREAT day to be a Devils fan.
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#140 SterioDesign

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Posted 15 August 2013 - 11:35 AM

"I want some of Lou's special sauce." - HAHAHA!!

 

ohhh my photoshop skills are tickling right now but im too busy lol


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