CaptainScotty Posted March 25, 2003 Share Posted March 25, 2003 I just read that gretzky article, and they seemed to have dumped salary based on a 60 million dollar operating loss. Now I may be wrong, but I remember reading that the Devils are going to post something like a 50 mil operating loss this year, coupled with the 50 last year. How long could it possibly be before we begin selling off our own players? I strongly suspect that if the boys dont put together a cup this year, our chances may be slim next year if we have to salary dump (i.e. Niedermayer, Brodeur!). I dont know how the playoffs are going to go for the team, but if it goes badly, I can speculate that Stevens could be forced into retirement. I really love this hockey team, but I absolutely abhor the constant politics involving the team always teetering on the edge of absolute destruction. I'd give just about anything for some stability. Quote Link to comment Share on other sites More sharing options...
NJDevs4978 Posted March 25, 2003 Share Posted March 25, 2003 nt Quote Link to comment Share on other sites More sharing options...
sundstrom Posted March 25, 2003 Share Posted March 25, 2003 this team is fine with money. don't be fooled by the balance sheet. coroporations save truckloads on taxes when they show a loss. b/c of the many "consulting" and "management" fees paid out to Lou, PuckHoldings, YankeeNets, etc. the Devils' balance sheet might not look great, but the team is doing well enough to ensure that there won't be a selloff of players unless we have a san jose type season where we decide to move aging players towards the end of their contracts. Quote Link to comment Share on other sites More sharing options...
NJDevs4978 Posted March 25, 2003 Share Posted March 25, 2003 If the Devs have those kind of payroll concerns in the offseason they won't resign Niewy (I'd like to see them resign Niewy but I'll believe it when I see it since Lou doesn't often resign older UFA's) and they'll dump TiVo (which they may regardless since he seems to be persona non grata now) and save almost $9 million just from those two. Add in Albelin's $1 million that comes off the books next year, and the Devs have a little flexibility. No matter what, though, they will not dump Marty, and Stevens and Dano will retire Devils. BOOK IT. Quote Link to comment Share on other sites More sharing options...
Triumph Posted March 25, 2003 Share Posted March 25, 2003 I think the Devils are losing money, but I highly doubt that the Coyotes are losing 60 million a year. Stevens has a no-trade, I believe. If the Devils don't resign Nieuwendyk, they may as well cut all of the high salary players over 30, and Niedermayer too. Quote Link to comment Share on other sites More sharing options...
Beck27 Posted March 25, 2003 Share Posted March 25, 2003 If the Devs get past round 1, they will probably break even. Fact is, most hockey teams rely on the playoffs alone just to bring in a profit for the year. Of the four major sprots, hockey easily generates the least amount of revenue, and it's largely due to the miniscual television contracts it gets. Quote Link to comment Share on other sites More sharing options...
sundstrom Posted March 25, 2003 Share Posted March 25, 2003 Phoenix also had terrible problems with loans and deffered interest payments on their new arena and various other endaevors. It seems that all Phoenix teams have loan issues. It's Colangelo's MO. Quote Link to comment Share on other sites More sharing options...
GetReal Posted March 26, 2003 Share Posted March 26, 2003 We will never see the real books on the Devils or any other team unless it is the result of the CBA and even then they will be cooked slightly. Quote Link to comment Share on other sites More sharing options...
MantaRay Posted March 26, 2003 Share Posted March 26, 2003 Beck27 is dead on. Last season was the only season the Dev's did not end up in the red, because we got bounced in the first round. Quote Link to comment Share on other sites More sharing options...
sammyk Posted March 26, 2003 Share Posted March 26, 2003 Beck27 is dead on.Last season was the only season the Dev's did not end up in the red, because we got bounced in the first round. Did you mean not end up in the black? Quote Link to comment Share on other sites More sharing options...
MantaRay Posted March 26, 2003 Share Posted March 26, 2003 Yes, sorry about that been reading too much of the business page lately and I guess it stuck. Quote Link to comment Share on other sites More sharing options...
LIDevsFan1 Posted March 26, 2003 Share Posted March 26, 2003 regardless of what the situation really is---and I do beleive they are losing money, they will put the worst spin possible on it so they can get the new arena. Someone said they'll do anything to keep the team---go drop $5-6 K on season tix. Quote Link to comment Share on other sites More sharing options...
CaptainScotty Posted March 26, 2003 Author Share Posted March 26, 2003 Damned this arena, without it our team gets the shaft? Is it just a bunch of morons running NJ? What the hell? Moreover, the Devils have to shoulder some of this blame too. The atrocious agreement with the NJ Sports Authority for the meadowlands was a bad move by the management. I hear that the arena walks away with a lot of the ticket revenue and concession sales because of the contract. Even if the new arena tanks, the Lou HAS to renegotiate the deal, and the get those bastard politicians to make the NJ Sports Authority to grant some sort of concession to the team (especially since the threat of moving would blast the facility to hell). There is absolutely no doubt in my mind that wed have a lot more asses in the seats if every ticket were $10 cheaper. Quote Link to comment Share on other sites More sharing options...
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