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The Devils Minority partners are looking to sell their share.


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#121 ghdi

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Posted 01 February 2011 - 03:58 PM

This isn't the first rumor of Vanderbeek selling the team. He may very well need to get his ducks in a row before going public because if he has major financial problems and that is known, it devalues the team on the open market. He may even have a potential buyer lined up and doesn't want to screw that up. I dont know the rules of a team sale, so that may even be completely wrong.

While I'm temporarily relieved that this rumor may be squashed, I agree where there's smoke there's fire.
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#122 maxpower

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Posted 01 February 2011 - 03:59 PM

I actually am surprised, if only cause Vanderbeek is an actual fan of the team - that much isn't lip service. Plus with all the spending this summer I didn't think there was any issue with the finances of the team. If one bad season's gonna make VBK wave the white flag, who's gonna even want to buy the team?

Just great, two of my teams up for sale inside of a week...what were the odds?



Yeah and the Mets denied they were in trouble for two years even when the whole world knew it. Of course he's not going to admit they're for sale, doesn't mean we aren't heading in that direction. Where there's smoke there's fire.


Who said VBK was spending VBK's money? He's just the public face of the team. I don't think the team is for sale and has been for sale. I think VBK needs to dump at least a decent portion of his share.

remember the rumored owner pow-wow with Bettman last summer?

Edited by maxpower, 01 February 2011 - 04:00 PM.

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#123 NJDevs4978

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Posted 01 February 2011 - 04:02 PM

This.

Plus how could the team realistically move when they just got a new arena...


Well you could always put the Islanders there since they ain't getting a new arena on LI :whistling:
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#124 robdeselich88

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Posted 01 February 2011 - 04:04 PM

anyone know if the weather is going to be terrible tonight? trying to decide if i should go or not
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img]http://jerseydatabase.com/sig/temp.png?ran=987145633[/img]

#125 DaneykoIsGod

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Posted 01 February 2011 - 04:07 PM

Vanderbeek could still be correct in saying "I'm not selling the team" if he's only selling a minority share while remaining the majority shareholder, no?
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#126 Triumph

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Posted 01 February 2011 - 04:17 PM

Vanderbeek could still be correct in saying "I'm not selling the team" if he's only selling a minority share while remaining the majority shareholder, no?


yes, but i'm not sure if he owns that much more of the team than 51%. we know lou owns somewhere between 5 and 15 percent and gilfillan is a minority shareholder.
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#127 maxpower

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Posted 01 February 2011 - 04:18 PM

I'm not even sure he owns 50% of the team. in house sales don't really need to be announced, no?
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#128 NJDEVS1730

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Posted 01 February 2011 - 04:27 PM

anyone know if the weather is going to be terrible tonight? trying to decide if i should go or not


:offtopic:

Lots of Icy-Rain/Snow......free ice scraper! :boogie:
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#129 MantaRay

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Posted 01 February 2011 - 04:32 PM

:offtopic:

Lots of Icy-Rain/Snow......free ice scraper! :boogie:


The St. Louis game has already been cancelled for tonight.
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#130 NJDevs4978

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Posted 01 February 2011 - 04:37 PM

anyone know if the weather is going to be terrible tonight? trying to decide if i should go or not


You should ask in the game thread, that's the more appropriate one for this type of question.

That said, I don't think the icy rain's supposed to start again till after ten, at least in north Jersey but who knows anymore :P

The St. Louis game has already been cancelled for tonight.


Wow...well at least their players won't be sleeping in their cars tonight :P
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#131 NJDEVS1730

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Posted 01 February 2011 - 04:37 PM

The St. Louis game has already been cancelled for tonight.


Yea, I saw that. I don't see the game being canceled...but I can see a low attendance, and free tix to another game.
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#132 njdevil26

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Posted 01 February 2011 - 05:15 PM

According to TG the Devils are going to release a statement refuting the rumor.
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#133 Triumph

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Posted 01 February 2011 - 05:32 PM

well, the statement didn't refute the rumor very well:

""As Managing Member of the New Jersey Devils, it is not my desire to sell the team. My partner, Brick City, and I have different visions for the franchise. While Brick City has a right, under our partnership agreement, to explore a sale and Moag and Co. has been retained to assist in these effort, I anticipate maintaining a controlling interest."
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#134 section 110

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Posted 01 February 2011 - 05:33 PM

This clearly means that Gilfillan wants to sell his share of the team and there's a rift in the partnership between VBK and Gilfillan. Gilfillan is Brick City. Here's his linkedin profile: http://www.linkedin....illan/6/825/b16
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#135 maxpower

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Posted 01 February 2011 - 05:37 PM

Gilfillan is selling. that's interesting.
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#136 Triumph

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Posted 01 February 2011 - 05:39 PM

I guess it could just be business-speak, but the fact that he says that it's not his desire to sell and that he doesn't anticipate not maintaining a controlling interest seems to suggest the entire process isn't in his control.
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#137 NJDEVS1730

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Posted 01 February 2011 - 05:45 PM

well, the statement didn't refute the rumor very well:

""As Managing Member of the New Jersey Devils, it is not my desire to sell the team. My partner, Brick City, and I have different visions for the franchise. While Brick City has a right, under our partnership agreement, to explore a sale and Moag and Co. has been retained to assist in these effort, I anticipate maintaining a controlling interest."


Where is the statement from? I can't find it lol :argh:
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#138 NJDevs4978

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Posted 01 February 2011 - 05:49 PM

I guess it could just be business-speak, but the fact that he says that it's not his desire to sell and that he doesn't anticipate not maintaining a controlling interest seems to suggest the entire process isn't in his control.


Yeah I suppose it's possible he owns 50% or fewer of the team, you can own less than 50% and still be the majority owner. TG for what it's worth says he owns 50% so I guess it's theoretically possible all the minority owners could sell to one person or corporation and create a partnership.
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"The Devils have high standards, that's the difference. We have a standard to live up to every year, and a couple of teams in our area don't have the standards we do." - Pat Burns

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-NHL record for most road wins in the playoffs - 10-1 in '95 and 10-2 in '00
-NHL record for most home wins in the playoffs - 12-1 in '03

#139 section 110

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Posted 01 February 2011 - 05:49 PM

I guess it could just be business-speak, but the fact that he says that it's not his desire to sell and that he doesn't anticipate not maintaining a controlling interest seems to suggest the entire process isn't in his control.


True. To parse the VBK statement, it's Brick City's right to explore a sale - it didn't say it's BC's right to explore a sale of Brick City's interest in the team. It's surely more complicated than we know.
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#140 maxpower

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Posted 01 February 2011 - 05:52 PM

I guess it could just be business-speak, but the fact that he says that it's not his desire to sell and that he doesn't anticipate not maintaining a controlling interest seems to suggest the entire process isn't in his control.


he doesn't have a 51% majority, I guess. it's also possible some nutball could run in and offer $300M for the team, in which case he'd be stupid not to sell, especially since he could grift them using the arena
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