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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, and NHL revenues.

NJ Devils for sale (mod: Brick City minority interest)

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Old
02-01-2011, 01:13 PM
  #26
Marc the Habs Fan
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Old
02-01-2011, 01:15 PM
  #27
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Originally Posted by MoreOrr View Post
So someone tell me... Is this a buyers market or a sellers market for NHL teams?

Soon it will be half the teams that have been on the market since the Lockout. Why are so many owners looking to get out?

They realize they're not going to get any more bumps up in value after the lockout/cap. This is as good as it will get for most of them.

I think it's a buyer's market. I don't know that the banks are getting back into the financing business yet either.

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02-01-2011, 01:16 PM
  #28
LadyStanley
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Originally Posted by Fugu View Post
I was about to quip, "Good show on Vanderbeek after saddling the franchise with a 15 yr, $100m contract (or whatever the final figure turned out to be). Seeing how it's front-loaded, no wonder he wants out.

MicheleSteele
I interviewed Devils Vanderbeek last mo - he told me then he did NOT regret Kovy's $100m contract (right b4 team fired its rookie coach)


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Why not list them since someone will ask. (And you can link to your nifty chart in the data thread.)
http://hfboards.com/showthread.php?p...0#post27330840

The other 8: Atlanta, Buffalo, Carolina, Dallas, Minnesota, Nashville, Phoenix, St Louis

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Old
02-01-2011, 01:19 PM
  #29
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Originally Posted by Tyler Seguin View Post
Asking price is 450 millions. Good luck with that.
I must have missed that part. Where'd you hear this?

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@ MoreOrr:

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Vanderbeek, 53, bought the team in 2004 for $125 million, according to Forbes. The magazine reported in December that its value is $218 million on $104 million of revenue.
The three most-highly valued NHL franchises were the Toronto Maple Leafs ($505 million), New York Rangers ($461 million) and the Montreal Canadiens ($408 million), according to Forbes.

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Old
02-01-2011, 01:23 PM
  #30
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Originally Posted by LadyStanley View Post
MicheleSteele
I interviewed Devils Vanderbeek last mo - he told me then he did NOT regret Kovy's $100m contract (right b4 team fired its rookie coach)

I remember thinking it was really odd that the first two years of Kovy's deal paid out $6--ish million. THEN it ramps up to $11-12m for five years, and $10m in 6th.

The GM has to worry about the cap hit.

The owner has to worry about paying $5m more for those years than what Vanderbeek is paying out this and next year. Clever bugger.

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02-01-2011, 01:24 PM
  #31
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Originally Posted by Fugu View Post
I remember thinking it was really odd that the first two years of Kovy's deal paid out $6--ish million. THEN it ramps up to $11-12m for five years, and $10m in 6th.

The GM has to worry about the cap hit.

The owner has to worry about paying $5m more for those years than what Vanderbeek is paying out this and next year. Clever bugger.
This is due to the taper at the end of the contract not some scheme so vanderbeek can get out.

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Old
02-01-2011, 01:37 PM
  #32
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This is OT but I just wondering what teams in other sports are for sale right now.

I don't understand why all of a sudden, almost 1/3 of the NHL teams are in whole or part for sale.

Maybe some of the knowledgeable business oriented posters can provide some insight on this.

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Old
02-01-2011, 01:38 PM
  #33
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Originally Posted by Richer 44 View Post
This is due to the taper at the end of the contract not some scheme so vanderbeek can get out.

He had 15 years to taper it. I "think" another way would have worked.

Also, how can you be certain he wasn't worried about his operational costs? It seems pretty smart actually if that had anything to do with it.

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Old
02-01-2011, 01:44 PM
  #34
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this essentially puts AHL Albany back on the block since the Devils own their affiliate.

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Old
02-01-2011, 01:44 PM
  #35
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If Forbes value is $208 and "sale price" is $450, does that include the arena?

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Old
02-01-2011, 01:50 PM
  #36
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Quote:
Originally Posted by MoreOrr View Post
Soon it will be half the teams that have been on the market since the Lockout. Why are so many owners looking to get out? Do they see a bad future ahead, or have they already lost too much, or have they already made money and want to walk away, or have many of them been struggling in their other business ventures and can no longer afford to be sports franchise owners?
This goes back to the principle of needing to look "under the hood" at each individual franchise.

Sometimes it has to do with unrelated business issues -- such as those in Dallas (Hicks' bankruptcy), Nashville (Del Baggio's criminal tendencies), and Carolina (partner's death).

Sometimes it's just a matter of the owners divesting themselves of the investment -- Atlanta, Buffalo, Jersey.

And sometimes it's both -- Phoenix.

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Old
02-01-2011, 02:04 PM
  #37
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Move 'em to wininipeg

NJ is really struggling fiscally so the city won't buy the team ala Phoenix.

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Originally Posted by 2525 View Post
This is OT but I just wondering what teams in other sports are for sale right now.

I don't understand why all of a sudden, almost 1/3 of the NHL teams are in whole or part for sale.

Maybe some of the knowledgeable business oriented posters can provide some insight on this.
In the NBA- the new orleans hornets have just been bought by the league amidst rumbling of contraction in general.

Jacksonville Jaguars and the Buffalo Bills have been frequent targets of relocation but it seems that it's just posturing.

I don't follow baseball all that well but there have been repeated calls for a salary cap by struggling small-market teams.

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Old
02-01-2011, 02:16 PM
  #38
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Now imagine if you will Bettman coming out with a deadline of July 1st saying that if all the teams that are currently looking for owners have not found one will be dissolved into the other 20 or so teams. Can you imagine, that would be unbelievable.

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02-01-2011, 02:21 PM
  #39
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Have been told now by multiple sources that the Devils ownership sale story isn't accurate.
Expect a statement from the Devils in the next half hour or so.



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Old
02-01-2011, 02:23 PM
  #40
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Originally Posted by bacon25 View Post
Now imagine if you will Bettman coming out with a deadline of July 1st saying that if all the teams that are currently looking for owners have not found one will be dissolved into the other 20 or so teams. Can you imagine, that would be unbelievable.
Yep... looking to sell... TOO BAD you own nothing now.

Not bad on a 125 investment 6 years ago to make 80 plus million. Though I wonder if the arena is apart of that number by Forbes or not.

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Old
02-01-2011, 02:25 PM
  #41
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Now imagine if you will Bettman coming out with a deadline of July 1st saying that if all the teams that are currently looking for owners have not found one will be dissolved into the other 20 or so teams. Can you imagine, that would be unbelievable.
Yup, because GB and the League has no power whatsoever to do that - excepting of course Phoenix, which they own.

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Old
02-01-2011, 02:33 PM
  #42
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Revenues are up though! when will this house of cards league come crashing down?

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Old
02-01-2011, 02:37 PM
  #43
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trying to cash in on the new arena?

maybe he wants to throw in for a piece of the mets.

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Old
02-01-2011, 02:38 PM
  #44
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Both Devils beat writers say JVB is going to issue a statement debunking the story shortly.

Stay tuned.

This isn't the team you're looking for, move along.


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Old
02-01-2011, 02:49 PM
  #45
LadyStanley
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Bloomberg has now clarified that it was actually James Van Der Beek selling his New Jersey shovels.


Wrong asset identified, apparently

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Old
02-01-2011, 02:54 PM
  #46
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IMO it was a botched story. I do think Vanderbeek is selling or trying to sell and has been. But the Devils have an ownership group, of which, no one is even sure where Vanderbeek stands. He's the public face though, so the writer put two and two together....

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Old
02-01-2011, 03:05 PM
  #47
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The Devils announce Jim Vanderbeek is not selling the team.
http://www.nj.com/devils/index.ssf/2...medium=twitter

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Old
02-01-2011, 03:06 PM
  #48
LadyStanley
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Think we've proved that the Devils are not for sale.

Closed.

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Old
02-01-2011, 04:38 PM
  #49
LadyStanley
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Reopening.

Majority owner JVB is NOT selling team. But minority owner is exploring options.

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Old
02-01-2011, 04:39 PM
  #50
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Quote:
Originally Posted by LadyStanley View Post
Reopening.

Majority owner JVB is NOT selling team. But minority owner is exploring options.
Thanks!

He says he anticipates maintaining controlling interests.

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