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The Devils Minority partners are looking to sell their share.

Started by ghdi, Feb 01 2011 01:17 PM

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#1 ghdi

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Posted 01 February 2011 - 01:17 PM

Breaking on Twitter.

"BREAKING: NHL's Devils for sale - person familiar tells Bberg News Devils owner Vanderbeek has hired Moag & Co to oversee sale"

http://twitter.com/#!/MicheleSteele/status/32501002494021633

Bloomberg News article
http://www.bloomberg...r-nhl-team.html

Chere article stating the Devils will issue a statement that the team is NOT for sale
http://www.nj.com/de...atement_sa.html

Edited by ghdi, 01 February 2011 - 03:53 PM.

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#2 Elias26

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Posted 01 February 2011 - 01:20 PM

Wow can't believe this.

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Record suggested he'd be called Scrooge, Holik said: "It won't be the first time." -Bobby Holik Christmas 2008

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#3 Marshall

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Posted 01 February 2011 - 01:20 PM

I'm dying a bit inside.

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#4 Prucenterrules

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Posted 01 February 2011 - 01:21 PM

oh boy! Wonder what this means

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#5 John Wensink

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Posted 01 February 2011 - 01:23 PM

Just searched Bloomburg....nothing

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#6 BCdevil

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Posted 01 February 2011 - 01:23 PM

Wow can't believe this.

You can't?

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#7 ghdi

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Posted 01 February 2011 - 01:23 PM

oh boy! Wonder what this means

It means we're going to have new ownership within a year or so and who knows what they will want to do.

Cue the Jim Balsillie or Prohorov rumors.

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#8 Elias26

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Posted 01 February 2011 - 01:25 PM

You can't?

No Vanderbeek seemed committed to the team especially after signing Kovy.

Bobby Holik wouldn't name a (Christmas) song. He said: "Music means nothing to me." When Tom Gulitti of the
Record suggested he'd be called Scrooge, Holik said: "It won't be the first time." -Bobby Holik Christmas 2008

“I made a decision to be here. Just because the team is going through a rough time doesn’t mean you leave. This has become my second home. I love playing here. Patrik Elias January 31, 2011

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#9 hmon

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Posted 01 February 2011 - 01:28 PM

Perfect timing. Just what the players need now. I hope they are not distracted by this

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#10 justdo3043

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Posted 01 February 2011 - 01:28 PM

nhl live is reporting this too....ohh mannnn not good.... :saddevil:

"The $297,297 Kovalchuk missed today is money he will never, ever get back. And the more cheques he misses, the better the deal is going to have to be for the players to justify him sitting out. And unlike the owners, the players can direct their leadership to get a deal done regardless of how disadvantageous it is to them."

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#11 ghdi

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Posted 01 February 2011 - 01:28 PM

Just searched Bloomburg....nothing

It just broke on Twitter and the source is their sports business reporter. Its also not big news for Bloomberg.

Follow @MicheleSteele shes tweeting more. http://twitter.com/#!/MicheleSteele

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#12 Random Poster

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Posted 01 February 2011 - 01:29 PM

No Vanderbeek seemed committed to the team especially after signing Kovy.

VBK is a businessman first and foremost and like a good politician he'll tell you what you want to hear.

Edited by SJP20, 01 February 2011 - 01:30 PM.

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#13 MantaRay

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Posted 01 February 2011 - 01:29 PM

This is old news. The reason we got Kovy was to sell to team to the Nets Russian owner.

Edited by MantaRay, 01 February 2011 - 01:30 PM.

I was wrong to ever doubt the powers of Lou Lamoriello.
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#14 DaneykoIsGod

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Posted 01 February 2011 - 01:30 PM

Just searched Bloomburg....nothing

The woman who broke the news on Twitter is a Bloomberg reporter.

http://www.bloomberg...michele_steele/

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#15 MantaRay

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Posted 01 February 2011 - 01:30 PM

VBK is a businessman first and foremost.

and a Sh@#ty one at that.

I was wrong to ever doubt the powers of Lou Lamoriello.
IN LOU WE TRUST @Manta04

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#16 Triumph

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Posted 01 February 2011 - 01:31 PM

VBK's clearly taken a bath on the team, and the company he made his fortune with went bankrupt after he left. He does seem like such a good ambassador for the team that I hope he's not selling his entire stake in it.

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#17 Devils731

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Posted 01 February 2011 - 01:37 PM

I would assume VBK would want to force the new owner into a long term deal at the Arena, or sell the stakes both at the same time, which would make the new owner want to stay there.

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#18 ghdi

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Posted 01 February 2011 - 01:37 PM

Brooks: Devils' ownership situation will make it it nearly impossible to lock up Parise long-term. Not good. #Understatement.

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#19 coldply123

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Posted 01 February 2011 - 01:39 PM

Not surprising as there have been rumors since the Lehman incident, that Vanderbeek took a significant personal hit. The news breaking now probably means the sale would look to happen over the summer before next season.

I can't see the NHL approving any new owner moving the Devils, so let's drop that fantasy right here and now. The Devils have grown into a fairly stable and marketable entity, especially when compared to a lot of other teams (Coyotes, Thrashers, Panthers, Islanders and a few others like the Lightning and Blues who have had continual ownership or money issues, gate attendance, etc).

I wonder what this means for Lou. Likely retirement sometime soon, probably sooner rather than later. I'm all for a new owner if it means preventing Chris Lamoriello from inheriting the GM spot.

This does add a wrinkle into the Parise situation most certainly.

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#20 justdo3043

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Posted 01 February 2011 - 01:39 PM

i hope its just a stake

Edited by justdo3043, 01 February 2011 - 01:41 PM.

"The $297,297 Kovalchuk missed today is money he will never, ever get back. And the more cheques he misses, the better the deal is going to have to be for the players to justify him sitting out. And unlike the owners, the players can direct their leadership to get a deal done regardless of how disadvantageous it is to them."