nhl take over of devils?

[nj_cup]

NHL Takeover Of New Jersey Devils Looming - Forbes


if this is true then how were they able to add that much payroll this summer?

 

[CalamityX11]

oh boy....

 

[nj_cup]

Y! SPORTS


you really know its bad when this story is on the front page of yahoo.com wtf is going on

 

[irishwhip03]

Why hasnt NHL.com reported it...if Im remember correctly they were quick to jump on it when they took over control in Phoenix.

So far its just on a bunch of secondary sites.

 

[Nasty_Magician]

TG saying those reports are false.

Fire & Ice - Two groups in bidding for Devils, could be done ?quickly?; Report NHL plans takeover ?not accurate?

Also says the bidding for the team could be done in days.

 

[nj_cup]

strange that shit is about to hit the fan and now 2 owners pop out of "nowhere"? i know the lawyer guy has been fishing around for a bit but the 6ers owner is new. now they will just start a bidding war for a team who is $250 million in debt? (maybe i read that wrong somewhere) but thats a lot of money!

 

[Nasty_Magician]

strange that shit is about to hit the fan and now 2 owners pop out of "nowhere"? i know the lawyer guy has been fishing around for a bit but the 6ers owner is new. now they will just start a bidding war for a team who is $250 million in debt? (maybe i read that wrong somewhere) but thats a lot of money!

Well the lawyer group I believe had exclusive negotiating rights for a set amount of time, that time has expired so the 6ers group jumped in.

 

[nj_cup]

weird that beek isnt even saying a word in any of this

 

[irishwhip03]

Latest update

Devils likely to be sold within the next several days | NJ.com

 

[nj_cup]

just doesnt seem right.


you have multiple people looking to get into this team. yet the team owes so much money and cant seem to turn a profit? why is that? for both questions.

while i'm stoked about the new owners and hopefully deep pockets just seems a bit strange

side note. seeing booker in that photo with beek well you can tell thats an old photo

 

[Nasty_Magician]

just doesnt seem right.


you have multiple people looking to get into this team. yet the team owes so much money and cant seem to turn a profit? why is that? for both questions.

while i'm stoked about the new owners and hopefully deep pockets just seems a bit strange

side note. seeing booker in that photo with beek well you can tell thats an old photo

I think they do turn a profit, Beek just took on more than he could afford.

 

[irishwhip03]

How Beek got into that much debt is beyond me..has to be due to his other business ventures cause the Devils are not a money pit like some other teams in the league.

They sold out 20 of 24 games last season and I believe are in the top 10 in the world in terms of other events at the Rock. That generates a lot of money.

The way I see it , the team itself isnt in that much trouble its just 95 percent due to the owner. This Barroway guy was the one giving money to Beek , 30 mil I believe , so its pretty clear he wants to takeover.

I just want this process to be over by opening night.

 

[Nasty_Magician]

How Beek got into that much debt is beyond me..has to be due to his other business ventures cause the Devils are not a money pit like some other teams in the league.

They sold out 20 of 24 games last season and I believe are in the top 10 in the world in terms of other events at the Rock. That generates a lot of money.

The way I see it , the team itself isnt in that much trouble its just 95 percent due to the owner. This Barroway guy was the one giving money to Beek , 30 mil I believe , so its pretty clear he wants to takeover.

I just want this process to be over by opening night.

I could be wrong but I believe he was originally partnered up with somebody that made his fortune in real estate. When that guy went broke Beek bought his shares of the team, which turned out to be more than he could sustain.

 

[Nasty_Magician]

Also, sports teams are generally a terrible investment. You better be ok with losing money or breaking even if you buy one.

 

[nj_cup]

How Beek got into that much debt is beyond me..has to be due to his other business ventures cause the Devils are not a money pit like some other teams in the league.

They sold out 20 of 24 games last season and I believe are in the top 10 in the world in terms of other events at the Rock. That generates a lot of money.

The way I see it , the team itself isnt in that much trouble its just 95 percent due to the owner. This Barroway guy was the one giving money to Beek , 30 mil I believe , so its pretty clear he wants to takeover.

I just want this process to be over by opening night.

amazing isnt it that you can just give the guy 30 million when hes in debt. then want to try to buy the team on top of that! wow thats some uncle scrooge style money there!

 

[irishwhip03]

Its the business man , cut throat mentality..and maybe thats the type of owner this team needs right now. I love Beek because he's a fan that bought his favorite team. But ever since he bought out his previous partners its been a disaster.

Barroway probably knew back then that Beek would only be able to take that 30 mil so far.

 

[Nasty_Magician]

Word is the sale is done or at least agreed upon. It's the 6ers owner.

 

[Nasty_Magician]

Sixers owner Joshua Harris has reportedly agreed to a deal with New Jersey Devils owner Jeff Vanderbeek to purchase the team, according to a tweet from Howard Eskin of 94WIP (see tweet below).

Harris' interest in the Devils was first reported by Eskin a few days ago. The deal reportedly will cover all of the debt owed by Vanderbeek. What's not clear is whether a reported agreement on money matters actually constitutes a completed agreement to sell the team, especially because Vanderbeek and the Devils' money matters are so convoluted and tied up with other concerns.

Harris has owned the Sixers for the past two seasons along with a group of investors.

#njdevil owner jeff vanderbeek has really lost to the bank but #sixers owner josh harris will cover that money. Done deal

— Howard Eskin (@howardeskin) August 9, 2013
More details to come

 

[irishwhip03]

A buddy of mine who's a Devils fan lives down in Philly now , and he told me a little of talk radio has been going on about this there and its from people who are worried that Harris will want to move the Sixers to the Prudential Center. Im not a basketball fan but having a legit NBA team in Newark would be nice. Even though the Sixers are horrible now.

Its probably a huge long shot and moreso going to be used as leverage for Harris to create a basketball only arena in Philly but still interesting. I guess the Sixers have a lease right now with the Flyers arena that would be hard to break.

 

[DevilishWon]

A buddy of mine who's a Devils fan lives down in Philly now , and he told me a little of talk radio has been going on about this there and its from people who are worried that Harris will want to move the Sixers to the Prudential Center. Im not a basketball fan but having a legit NBA team in Newark would be nice. Even though the Sixers are horrible now.

Its probably a huge long shot and moreso going to be used as leverage for Harris to create a basketball only arena in Philly but still interesting. I guess the Sixers have a lease right now with the Flyers arena that would be hard to break.

I enjoy the fact that forbes shit the bed