The Rock doing well

[LucifersDog]

The new owners must be happy with the Rock. It landed number 3 Nationally and #9 Globally and will host the Media Day for the Super Bowl XVIII early 2014.

 

The Rock is Rocking.

 

http://newarknj.patch.com/groups/business-news/p/prudential-ranked-among-worlds-top-10-venues

 

The new owners always said they were interested in the arena, that was the big attraction for the purchase.

[Muevelos]

No surprise here its always been one of the busiest arenas in the country. Good and hope it stays that way Newark needs the rock.

[2ELIAS6]

so what they wanted was the arena the devils just came along with it in the purchase.. makes sense because you know theyre clearly not making any money on the devils with their attendance numbers so theyre making all of their money on the arena itself.

[dmann422]

so what they wanted was the arena the devils just came along with it in the purchase.. makes sense because you know theyre clearly not making any money on the devils with their attendance numbers so theyre making all of their money on the arena itself.

and that's fine with me because it means that they'll hopefully let the hockey people (ie: Lou) handle the hockey decisions and just worry about the money side of things.

[Mike Brown]

so what they wanted was the arena the devils just came along with it in the purchase.. makes sense because you know theyre clearly not making any money on the devils with their attendance numbers so theyre making all of their money on the arena itself.

Except the Devils ARE making money.

[DevsMan84]

Except the Devils ARE making money.

 

 

They have revenues but they only make a profit when they make the playoffs.

[Devilsfan118]

At this point, as long as the Devils aren't hemorraging money..I think we'll be okay.

 

The arena and TV deal are definitely keeping the team alive, though, thankfully.

 

Deep down I still have a fear about the new owners selling off the Devils and keeping the arena rights to themselves..but I've been told a couple times that's not an option.

[Devil Dan 56]

At this point, as long as the Devils aren't hemorraging money..I think we'll be okay.

 

The arena and TV deal are definitely keeping the team alive, though, thankfully.

 

Deep down I still have a fear about the new owners selling off the Devils and keeping the arena rights to themselves..but I've been told a couple times that's not an option.

 

They could sell the team, but the team will be in Jersey. Well, at least until the lease runs out in the 2030's. Unless they want to spend millions of dollars to break the lease, at which point the NHL would step in. The last thing they want to do is lose a team in a major market. 

Edited December 16, 2013 by Devil Dan 56

[dmann422]

They could sell the team, but the team will be in Jersey. Well, at least until the lease runs out in the 2030's. Unless they want to spend millions of dollars to break the lease, at which point the NHL would step in. The last thing they want to do is lose a team in a major market.

any prospective new nhl owner has a choice of 4-5 other teams that are arguably more likely to be moved, plus two potential expansion teams.

Any nj owner, including Harris, will buy the team to keep it in nj.

[Mike Brown]

They have revenues but they only make a profit when they make the playoffs.

 

Yea I know the Devils are usually in the upper half in the league with revenue.  But the debt made it impossible for them to turn profit.

[StormJosh]

Keep in mind you are looking at accounting profits and losses. The teams objective is make accounting profits as small as possible for tax reasons. If the team can show a loss they can use those losses to offset tax they might have to pay in times of profit. Vanderbeek paid himself a huge management salary which comes out of the teams profit.

[Colin226]

Right and Harris can also use Devils "losses" to offset PruCenter and/or personal gains, so that actually fits in for him.. He's making major gains from his investments, I'm sure.. And I'll bet his expensive accountant is very good at moving numbers around

[hystyk28]

They could sell the team, but the team will be in Jersey. Well, at least until the lease runs out in the 2030's. Unless they want to spend millions of dollars to break the lease, at which point the NHL would step in. The last thing they want to do is lose a team in a major market.

The NHL wants hundreds of millions of dollars for an expansion team, which is why the fight in the desert was so intense to keep the Yotes there. Bettman doesn't want anyone beating the owners out of that dough. Keep in mind the owners made their money buying distressed businesses and making them profitable. Let's just hope these guys have patience and try and grow the corporate base, which appears to be their focus. Otherwise, we might see some Gordon Gecko moves down the line.

[Chuck the Duck]

Based upon the Forbes report last spring, I thought JVB was so poor that he couldn't afford to bring in any acts to the Rock over the past year, decreasing the profitability of the arena?  

[LucifersDog]

Based upon the Forbes report last spring, I thought JVB was so poor that he couldn't afford to bring in any acts to the Rock over the past year, decreasing the profitability of the arena?  

I think that was true JVB couldn't afford to pay the advance fees to sign the acts. Harris and Co must be doing good job signing acts and filling the arena with these acts.

[oofrostonoo]

so what they wanted was the arena the devils just came along with it in the purchase.. makes sense because you know theyre clearly not making any money on the devils with their attendance numbers so theyre making all of their money on the arena itself.

It seems like they are thinking of a long term plan rather than just filling seats right away. Probably makes sense business-wise.

 

I for one wouldn't buy ticket plans when I could go on stubhub and buy decent seats mid week for 5-15 dollars a pop.  

[aylbert]

Why keep the Devils going when all I want is the goddamned arena?  -Zalinksy

[Mike Brown]

I had serious concerns about the Rock when I heard the plan initially brought up.  Like many other people, Newark scared the crap out of me.  I'm happy seeing the arena actually thriving in Newark.  Newark still needs a lot of work done, but at least it's on the right path to be revitalized.  There was a time when NYC was a crap hole too.

[thecoffeecake]

I had serious concerns about the Rock when I heard the plan initially brought up. Like many other people, Newark scared the crap out of me. I'm happy seeing the arena actually thriving in Newark. Newark still needs a lot of work done, but at least it's on the right path to be revitalized. There was a time when NYC was a crap hole too.

Even if Newark was close to as dangerous as the media exaggerates, what made anyone think waking a handful of blocks from your car to the stadium and back with throngs of people would present any serious threat? Fear of urban areas really just stems from ignorance and misperceptions. And they need to be careful balancing revitalization, and make sure gentrification is held somewhat in check. We don't want to see the local population displaced.

[DevsMan84]

Even if Newark was close to as dangerous as the media exaggerates, what made anyone think waking a handful of blocks from your car to the stadium and back with throngs of people would present any serious threat? Fear of urban areas really just stems from ignorance and misperceptions. And they need to be careful balancing revitalization, and make sure gentrification is held somewhat in check. We don't want to see the local population displaced.

 

Why?  The reason a good chunk of Newark is a craphole because of the people who live there.  Hell, almost every plighted area in the US is plighted because of the people who live there.

 

Here again is the reverse fear of gentrification because it somehow destroys the "charm" of these areas.  Give me a friggin break.  DUMBO was a sh!thole before the hipsters moved in and if you want to romaticize an area that was full of gangs, drugs and violence then go right ahead.  I like walking through that area without having to worry about my safety.

Edited December 17, 2013 by DevsMan84

[thecoffeecake]

Why? The reason a good chunk of Newark is a craphole because of the people who live there. Hell, almost every plighted area in the US is plighted because of the people who live there.

Here again is the reverse fear of gentrification because it somehow destroys the "charm" of these areas. Give me a friggin break. DUMBO was a sh!thole before the hipsters moved in and if you want to romaticize an area that was full of gangs, drugs and violence then go right ahead. I like walking through that area without having to worry about my safety.

This was pretty overtly racist. I'm not big on PC, but I'm actually offended by this post. These urban issues are a product of their society. What, you think inherently bad people happen to all concentrate in certain urban neighborhoods, or doyou just think every black and hispanic person possesses the traits necessary to organize gangs and commit violent crimes? Gentrifying areas does nothing to fix the problems of the complete absence of middle class jobs or of institutional racism. These people will still be poor, will still have no opportunities, and problems like gangs, drugs, and violence will still exist, just somewhere else. I can't educate you on the histories of urban social problems, deindustrialization, suburbanization, white flight, basic community planning and urban form in a single post, so do yourself a favor and open a book.

[Daniel]

The area around the arena is fine, and more so when there's an event. Although, I used to work in Gateway Plaza and Penn Station is a spooky place after around 11:00 when there isn't anything going on at the Rock.

Still, Newark just isn't going to be much of a destination for much else, and I wouldn't worry about gentrification if you're bothered about that sort of thing. The cities that have seen it, like Hoboken, West New York and Jersey City have done so because of proximity to NYC. Newark is not going to have an influx of yuppies that work in New York. And the ones that work in Jersey would rather live in a place like Montclair or Morristown.

Sent from my iPad using Tapatalk HD

Edited December 17, 2013 by Daniel

[DevsMan84]

This was pretty overtly racist. I'm not big on PC, but I'm actually offended by this post. These urban issues are a product of their society. What, you think inherently bad people happen to all concentrate in certain urban neighborhoods, or doyou just think every black and hispanic person possesses the traits necessary to organize gangs and commit violent crimes? Gentrifying areas does nothing to fix the problems of the complete absence of middle class jobs or of institutional racism. These people will still be poor, will still have no opportunities, and problems like gangs, drugs, and violence will still exist, just somewhere else. I can't educate you on the histories of urban social problems, deindustrialization, suburbanization, white flight, basic community planning and urban form in a single post, so do yourself a favor and open a book.

This is the typical far left excuse for why poverty exist. They are always the victim of something whether it be corporations, society or the "white man." There is now an entire culture of victimization where the only way they see an escape is through someone else instead of pulling themselves out of it.

Want more proof of how you help feed into that culture if victim hood? I never once mentioned race in my post but that's the conclusion you immediately jumped to and accused me of being a racist.

Do yourself a favor and read something written by someone other than far left philosophers and theorists.

[Mike Brown]

This is the typical far left excuse for why poverty exist. They are always the victim of something whether it be corporations, society or the "white man." There is now an entire culture of victimization where the only way they see an escape is through someone else instead of pulling themselves out of it.

Want more proof of how you help feed into that culture if victim hood? I never once mentioned race in my post but that's the conclusion you immediately jumped to and accused me of being a racist.

Do yourself a favor and read something written by someone other than far left philosophers and theorists.

 

OK, this post offends me with your generalization of liberals.

Edited December 17, 2013 by Mike Brown

[dmann422]

Lol I just knew this thread would devolve somehow.

As has been said many times, the area right around the rock is fine, especially before and after games when there are plenty of people around.

Off topic, "Cleaning up" Newark won't help solve the problem of the poverty cycle. Like it or not our society is set up so that these people don't have many opportunities to succeed or advance their lot, and cleaning up Newark will most likely just result in people ignoring the problem more.

And to make generalizations such as "the only way they see a way out is through other people" is laughably ridiculous and frankly obtuse. Plenty of people are struggling just to get by on their own, and most if not all individual successes involve people getting help along the way.