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Your Thoughts About: Ownership


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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.

Edited by DJ Eco
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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.

 

 

 

Barroway would have been a disaster waiting to happen, and does not bring nearly the financial stability to any organization that Blitzer and Harris do.   This is kind of proving to be the case with Phoenix as he gave up his majority share of the team shortly after he got it. 

 

That Blitzer/Harris beat out Barroway and ended up owning the team is just another reason to be thankful that they're the owners. 

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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 just wanted to clarify because a few points didn't seem to get what I was asking.  It's not about JVB sugar daddy, or about if he got a consultant job or not.  However, I like the part I quoted because it is something I didn't think about and it was about the way the deal was struck.  I always thought, "Well what if it were any other owner, would have things been different?"  But the whole thing leading up with underhanded negotiating tactics and things would have surely made this team worse off.  It is speculation that the other potential owners were doing that (except for maybe Barroway since you referenced it and he bailed on the Coyotes) and it was merely Harris and Blitzer offered the most money.  We may never know if they were the best or merely the ones that offered the most with the path of least resistance.

 

So I will add a little more credit to the owners just because I could very easily see the purchase of the team could have been so much worse.  But I still wonder about who could've been the owners otherwise and how close it was to being that.  I probably just watch too much SciFi and think about alternate universes on what could have been.

Edited by themightyall
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Didn't Barroway come close to buying the Islanders from Wang in 2013 after he lost out on the Devils?  From what I remember, the deal went dead at the last minute because he changed his price at the last minute (or was it Wang?).

 

I think we got the much better of the owners and quite frankly good ones overall.

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Didn't Barroway come close to buying the Islanders from Wang in 2013 after he lost out on the Devils?  From what I remember, the deal went dead at the last minute because he changed his price at the last minute (or was it Wang?).

 

I think we got the much better of the owners and quite frankly good ones overall.

 

I don't remember entirely, but I feel as though Wang either changed the price or balked entirely at the sale.

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I'm very happy with ownership thus far. Personally my season ticket prices went down last offseason, and only went back up close to the original price this offseason (just a little bit more), so I don't have any gripes with the price raise.

 

I've liked everything I've seen, heard, and read about these guys so far, so you could say I'm drinking their Kool-Aid. As for this offseason, the changes they did make were all positive in my opinion, so yeah...

 

Down?!  Well you're an anomaly, my prices went up from $22 to $30 in like three years.

 

That said it's a little hard for people to seperate ownership from the people they hire.  I doubt ownership gets involved on a macro level with ticket prices and the whole resale nonsense.  Blaming them for things Weber and O'Neill do are like blaming them for things Lou did in hockey ops.

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Down?!  Well you're an anomaly, my prices went up from $22 to $30 in like three years.

 

That said it's a little hard for people to seperate ownership from the people they hire.  I doubt ownership gets involved on a macro level with ticket prices and the whole resale nonsense.  Blaming them for things Weber and O'Neill do are like blaming them for things Lou did in hockey ops.

 

You don't think the owners are involved in macro decisions?  I think the exact opposite.  They are in meetings with Weber, O'Neill and Shero and they set forth agendas that they want to see on the whole and then the day to day decisions that are based on them are carried out by those guys.  Then they have meetings afterwards to see how things are progressing.  So deciding to raise prices, revamping the marketing department, adding sales, and budgeting the cap on ROI are all things that they are involved with on a macro level and then periodically check in on.

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