nhl take over of devils?

[irishwhip03]

Yep lots of sites took Forbes info and ran with it..pretty sad that these days fast news is looked at as better then correct news. Every outlet wants to be the first to run a story and create a stir just so they can get the label of being first. No one waits to let the dust settle anymore.

Probably the reason why NHL.com and the Devils website still havent reported anything on it. They dont need the publicity.

 

[MadCaptain]

Yep lots of sites took Forbes info and ran with it..pretty sad that these days fast news is looked at as better then correct news. Every outlet wants to be the first to run a story and create a stir just so they can get the label of being first. No one waits to let the dust settle anymore.

Probably the reason why NHL.com and the Devils website still havent reported anything on it. They dont need the publicity.

Its an embarrassing situation. The news reeked of lack of reporting from the start and all the fools hopped aboard. It makes sense though. The team had been saying for the past year that all the stuff written by the Forbes guy was wrong. Its only fitting that his final piece on the Devils was proven completely false within 24 hours.

It is really sad that this type of reporting has become the norm. You can't trust anything written on twitter and it has marginalized the more reliable sources due to this lack of trust.

Someone needs to make a news outlet that just fact checks the other outlets' BS. combs through everyone's stuff and notify people on what stuff is lazy reporting or straight up false.

 

[CalamityX11]

A Sixers owner??? so do I like root for philly? lol

 

[MadCaptain]

A Sixers owner??? so do I like root for philly? lol

Well its the Sixers. People in Philly don't even root for the Sixers.

 

[nj_cup]

heres what i dont get.

the team is $250 million in debt? asking price forbes had at like $205 a few years back. why would this group want to move in and buy this team when they could've had the yotes a lot cheaper?

is anyone a little worried at the speed this is going also? i mean we all knew there were issues with money but the story broke a few days ago and now before the weeks over there is a new owner?


i get it they "arent going to move anywhere" but is that really true? you really think new owners or bettman will come out and say yeah we need a new owner and when we find one they can move the team. nope it wouldn't make sense. so of course they will keep saying what we want to hear.

i'll hope for the best i just think this is all going fast!

 

[irishwhip03]

The speed is a bit surprising but its not like they just came outta nowhere to put in bids..both of these guys (groups) have had their names in the hat since the beginning of the selling talk.

From everything Ive seen , Harris seems to want to be involved in the NY/NJ market. You dont go running to Phoenix to make bids on their team if thats his intention. Plus the 25 year lease. Those arent exactly easy to get out of. Harris also doesnt have any ties to another city where hockey is possible. If he was a businessman from Seattle or Quebec Id be worried.

 

[MadCaptain]

The speed is a bit surprising but its not like they just came outta nowhere to put in bids..both of these guys (groups) have had their names in the hat since the beginning of the selling talk.

From everything Ive seen , Harris seems to want to be involved in the NY/NJ market. You dont go running to Phoenix to make bids on their team if thats his intention. Plus the 25 year lease. Those arent exactly easy to get out of. Harris also doesnt have any ties to another city where hockey is possible. If he was a businessman from Seattle or Quebec Id be worried.

I don't find the speed surprising. TG was mentioning the need for additional ownership when the one guy left over a year ago. Then Lou and TG were reporting that an ownership change was close or imminent since May. Its been fairly straightforward if you ignore the NYPost and Forbes articles.

I also have no worry about them moving. as Irish said, there would be too much legal issues leaving Newark.

As for Phoenix, that franchise is a disaster. They do not own an arena, have to pay millions to use the parking lots, have unstable management, and on top of all that are in a bad market.

 

[irishwhip03]

Well the speed between the takeover reports and the new owners reports were very fast..seemed like less then an hour before every site did the old switcheroo and take down the Forbes report.

Barroway's name has been floating around for months now as well as Harris and the Calgary businessman whose name I forgetting. The suitors are there so now its just up to the league to make things go smoothly. The $$ has already been agreed on which is a good sign.

 

[DevilishWon]

Josh Harris, 76ers' owner, in line to be next owner of Devils | NJ.com

I repeat I am greatly amused that Forbes shit the bed on this one.

 

[irishwhip03]

TG has the deal being completed within the next 2 days with Vanderbeek retaining a minority share.

Great news.

 

[Nasty_Magician]

Sale is apparently well in excess of $300 million. Read his grandparents are from Newark, owned a store there so he has some ties to the city.

 

[Nasty_Magician]

Fire & Ice

Wow that is an insane price to pay. The Prudential Center probably added a lot. He probably plans on making the Pru Center the premiere spot for concerts etc. in the NYC Met area. Only reason I can see for it being that high.

 

[tabascojet]

Fire & Ice

Wow that is an insane price to pay. The Prudential Center probably added a lot. He probably plans on making the Pru Center the premiere spot for concerts etc. in the NYC Met area. Only reason I can see for it being that high.

nosebleeds at pru and barclays suck. but i guess he is betting they dont extend the lease at msg.

 

[irishwhip03]

Yeah controlling the Rock had a lot to do with the sale..probably 95 percent of it really. Most of Harris' revenue will be generated from concerts and other events there. Not hockey.

 

[irishwhip03]

Also it looks like Forbes was wrong again valuing the franchise at 205 mil..Im not saying were worth 330 but 205 was a complete lowball..even without the arena rights.

Buncha amateurs.

 

[MCDevils]

heres what i dont get.

the team is $250 million in debt? asking price forbes had at like $205 a few years back. why would this group want to move in and buy this team when they could've had the yotes a lot cheaper?

is anyone a little worried at the speed this is going also? i mean we all knew there were issues with money but the story broke a few days ago and now before the weeks over there is a new owner?


i get it they "arent going to move anywhere" but is that really true? you really think new owners or bettman will come out and say yeah we need a new owner and when we find one they can move the team. nope it wouldn't make sense. so of course they will keep saying what we want to hear.

i'll hope for the best i just think this is all going fast!

Obviously it looks like this is done at this point, BUT the big key is that the Devils and operating the Prudential Center are a package deal. It's not just the team, it's Devils Arena Entertainment, which has the rights to operate the arena. This means that you get to have all the revenue from the building, which has shown to be extremely palatable to potential owners. Honestly, JVB just had massive cash flow problems. He just wasn't prepared to go it alone once Chambers (aka the bankroll) wanted out.

 

[MCDevils]

nosebleeds at pru and barclays suck. but i guess he is betting they dont extend the lease at msg.

I disagree about the upper deck. Pru's upperdeck has some of the best sightlines of any arena our size I've seen. I've sat way back in the Garden on the sides, and that is truly horrendous. I watched the 2 goal collapse against the Canes from the last row of the arena and it wasn't all that bad.

 

[MCDevils]

Fire & Ice

Wow that is an insane price to pay. The Prudential Center probably added a lot. He probably plans on making the Pru Center the premiere spot for concerts etc. in the NYC Met area. Only reason I can see for it being that high.

That's the whole key and why the Devs were never going to become the Coyotes. Even though we had cash flow problems under JVB. It's like if the Yankees were sold and you get the whole thing, Stadium, YES, the actual team. Devils and the building are a package. It seems like JVB still might keep a minority ownership which I'm fine with. Obviously the last few years were a bit tough on the fan base, but the guy did build us a palace to play in, AND most importantly, he's a fan.

From TG:

“The Rock” ranked eighth in the world and fourth in the U.S. with $32.8 million in gross ticket sales for concerts and family shows between Nov. 1, 2012 and May 31, according to Billboard magazine.

 

[tabascojet]

I disagree about the upper deck. Pru's upperdeck has some of the best sightlines of any arena our size I've seen. I've sat way back in the Garden on the sides, and that is truly horrendous. I watched the 2 goal collapse against the Canes from the last row of the arena and it wasn't all that bad.

sat in the upper deck at pru for the circus with my daughter and it was bad. but then again the most upper deck time ive spent in a hockey stadium is whatever the panthers are calling their arena these days, and despite the hockey the sight lines there were better IMO.

 

[nj_cup]

first off if i went to the circus i would not be sitting that high up. that stuff you need to be down low for.


that is a high price i was shocked at it. wow $320 plus the $30 million he has to pay the south jersey guy?

it would go a long way for the pru center if they knocked down the izod center. there are 5 arena's in a 20 mile radius fighting over concerts