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DJ Eco

Member Since 06 Dec 2007
Offline Last Active Yesterday, 02:28 PM
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Posts I've Made

In Topic: 2015 NHL Off-season Thread

Yesterday, 09:08 AM

You make a very good point but as I said all management and ownership supported thethe trade.

 

Like someone else said, that shows more that Chiarelli surrounded himself with "yes"-men, rather than assembling a dynamic advisory group. That video almost seemed like, "Who could agree with Chiarelli more?"

In Topic: Another Chump Move by Kovalchuk

26 August 2015 - 09:56 AM

At the time Kovy didn't know who the new owner was going to be.  Plus I can imagine a season of where some paychecks were late and/or deferred (I think I remember hearing about this right after the sale) Kovy might have been worried who would step in JVB's place.  Regardless a guaranteed paycheck where he wouldn't be paying into escrow and lesser taxes while playing fewer games on a larger ice surface with lesser competition probably was enough to lure him away.

 

I mean wouldn't the new owners want to keep their most marketable player by far on the payroll?  These guys are billionaires and could easily pay his salary.

 

Just the timing alone though makes me believe that Lou made it happen. Kovalchuk was obviously willing and would be easily sold on a Russia move after his stint in the KHL but I think this was all put in motion by Lou; and for good reason. We'll never know what the alternative was if our team was not sold exactly when it was. Only Lou, Vanderbeek, and Bettman know this.

 

Sure, on paper it sounds logical that the owner would want the team's superstar player as part of the deal, but not when you consider that it essentially tacks on $77m to the cost of the deal in the long run. They ended up getting the team for $320m, so a $77m "declining asset" being part of that is really just another 22% of that final purchase number $320m; suddenly the purchase price is $400m, not $320m. When you look at it like that, it's a pretty scary number. I'm sure the league knew this, I'm sure it was communicated to Lou and Lou had a "Hail Mary play" in his pocket to facilitate the deal, and that was the Kovalchuk departure. Lou knew Kovy's feelings toward the KHL, and all the reasons you gave in your post as to why a move to the KHL could be easily sold to him.

 

Harris' (and Apollo, his corporation) M.O. was always to purchase "ailing companies". That describes the Devils at the time (and suddenly without Kovalchuk's contracts on the books) to a T. He'd preferred buying the declining team without the superstar player, and in that context, the moves that have been made, to rebuild the organization for the long-term, it makes complete sense.

 

They didn't buy us after the 2012 Playoffs, they bought us after we missed the 2013 Playoffs and only after we lost Kovalchuk.

In Topic: Another Chump Move by Kovalchuk

26 August 2015 - 08:49 AM

Why would he sign with the Leafs, because of Lou?  He stabbed Lou in the back more or less, and don't give me that nonsense about how it was a mutual decision for him to walk away, there's no way Lou wanted his leading scorer to go to Russia for no compensation with new ownership coming in.  Lou lost his job cause of the last two years.

 

Do you really think it's just coincidence that the Kovy retirement (our most expensive, most high profile signing in history) happens less than a month before the biggest most high sale of ownership in our franchise's history?

In Topic: Adidas gets NHL jersey deal. Starts 17-18. Advertising on jerseys poss

26 August 2015 - 08:35 AM

Is it bad that I still prefer the unknown (Adidas) over if Nike got the contract? Nike's Olympic jerseys were god awful and I hope they're never handed a hockey contract again.

In Topic: Your Thoughts About: Ownership

25 August 2015 - 02:06 PM

I do appreciate that they stabilized the team, but I don't really give them that much credit for it because are they really that unique in doing it?  As in, put up Harris and Blitzer against any hypothetical owner that would have bought the team from JVB; did they do anything differently on that side that another owner wouldn't have?  Barroway and any other name that would've been approved to buy the team would've done the same thing.  So if this is true, why should I think Harris and Blitzer are that great for doing it?  This is a genuine question because I just think they didn't do anything unique.

 

First off, it's worth mentioning, not only did they pay "fair" market value for the team and the building, but a) knowingly took on all of Jeff Vanderbeek's debts/loans, settled all litigations (and there were a lot, $200m in debt I think), and b) even gave him a paid ghost "consultant" position afterward, which we would later find out was essentially a $2m severance, something they really didn't have to do. 

 

Another prospective owner could've probably gotten the team for much cheaper too, and truly put Vanderbeek on the street. Another prospective owner could've probably drawn the sale out a bit longer (maybe this was Barroway's strategy, and the reason he lost out on the bid?), harming Vanderbeek and the NHL's credit standing in the process, in order to pressure the NHL to push for the sale at all costs (aka forcing the price down).

 

I'm not painting them out to be saints, I mean, at the end of the day it's all capitalism. But the way in which the sale was handled was done in good faith and carried out in a positive fashion. They really didn't need to pay out an extra $2m to Vanderbeek, and they probably had good enough lawyers to litigate some of the debt claims made toward Vanderbeek; but they didn't, they paid it all out, and of course they knew it was a good enough deal and that it is a potential cash cow (that's business) but it could've been way way way more painful for us fans, the league, and Vanderbeek. And at the end of the day, it wasn't, it was handled extremely well and painlessly.

 

 

I would argue that JVB was never financially sound to begin with.  Ray Chambers owned the same % of the team during JVB's tenure and he was a billionaire who supported the team financially through the JVB years.  Yeah JVB's personal finances took a big hit with the building of the arena and with the collapse of Lehman Bros., but the financial struggle with the team really began around 2011 when Chambers decided he wanted (and eventually did) sell off his shares of the team to JVB.  Basically Chambers was JVB's sugar daddy for his really expensive toy.

 

And ^^^ this.