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NHL Anti-Thread: Bad Business Decision Aggregator


the admiral

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Add the Devils to list of ownership/money woes.

Forbes? Mike Ozanian reports that the Devils are headed towards bankruptcy themselves and that owner Jeff Vanderbeek is compounding the team?s issues by treating the team the same way Tom Hicks did with the Dallas Stars. The issue at hand for the Devils? Vanderbeek isn?t making interest payments on the team. Quotes from the Globe And Mail on Vanderbeek?s inability to pay follow.
Devils co-owner Jeff Vanderbeek already missed an interest payment on the $80-million (all currency U.S.) loan Sept. 1. He was given an extension by the lenders in order to try and raise enough money to buy out co-owners Ray Chambers and Mike Gilfillan.

However, Vanderbeek?s efforts have not paid off yet so he still has not been able to make the interest payment. The Devils are not an attractive property to buyers because of their attendance troubles at the Prudential Center in Newark, N.J. They are 25th among the NHL?s 30 teams in attendance with an average announced crowd of 14,074.

So 2 out of the 3 teams that play in the league's largest market are currently going through turmoil. What in the hell.

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Add the Devils to list of ownership/money woes.

Forbes? Mike Ozanian reports that the Devils are headed towards bankruptcy themselves and that owner Jeff Vanderbeek is compounding the team?s issues by treating the team the same way Tom Hicks did with the Dallas Stars. The issue at hand for the Devils? Vanderbeek isn?t making interest payments on the team. Quotes from the Globe And Mail on Vanderbeek?s inability to pay follow.
Devils co-owner Jeff Vanderbeek already missed an interest payment on the $80-million (all currency U.S.) loan Sept. 1. He was given an extension by the lenders in order to try and raise enough money to buy out co-owners Ray Chambers and Mike Gilfillan.

However, Vanderbeek?s efforts have not paid off yet so he still has not been able to make the interest payment. The Devils are not an attractive property to buyers because of their attendance troubles at the Prudential Center in Newark, N.J. They are 25th among the NHL?s 30 teams in attendance with an average announced crowd of 14,074.

So 2 out of the 3 teams that play in the league's largest market are currently going through turmoil. What in the hell.

People on here are cheering that hockey is failing in the South. I don't think they know that's a bad sign for the league as a whole.

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The bobblehead is John McCain wearing a suit with a coyotes jersey over it. It's like they were at one point Matt Hulsizer bobbleheads and he dropped out so they said, "What are we gonna do with all these Matt Hulsizer bobbleheads? Uhhh.........John McCain night! Just paint the hair gray."

matthew-hulsizer-2011-4-21-0-30-58.jpg

It's Military Night, been promoting the night as much as possible. Anyone in the Military gets in free. It is a nice gesture, plus having the Luke Air Force Base near them and being free, that should at least bring in at least another thousand, 7k tomorrow night!

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People on here are cheering that hockey is failing in the South. I don't think they know that's a bad sign for the league as a whole.

You're quoting a post about the Devils. They aren't in the South. And while it's satisfying to see the Devils get a little fiscal comeuppance for the way they pushed the sport to the brink of extinction, I don't want them to fail.

Insofar as the NHL still generates and will always generate much of its revenue on site--tickets, parking, concessions--and insofar as salaries and revenue-sharing payouts are functions of leaguewide revenue, it is necessary that the league does its business where money can reliably be made. Quebec City will make more money for everyone than Phoenix will, which currently costs each team owner about $2 million a year to run, just as Winnipeg has already proven more lucrative than Atlanta. Hockey will never be much more than what it is, and that's fine. You don't need us for NASCAR, we don't need you for this. We saw what happened with overextension in both.

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I was also at the Jets/Panthers game Monday night. Felt like a Thrashers game, and now I know that there's a NHL/NBA arena that has a more-outdated JumboTron than Philips Arena.

Would you say there were 11,000 people there.

11,000? No. Probably closer to 7-8,000. More folks there than I was expecting.

Their arena is literally on the edge of the swamp. Supposedly, that suburb of Miami is the fastest-growing area of town, and they're better off having the arena there as opposed to downtown Miami, where those with money aren't too keen on driving to North Havana 41 times a year.

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People on here are cheering that hockey is failing in the South. I don't think they know that's a bad sign for the league as a whole.

You're quoting a post about the Devils. They aren't in the South. And while it's satisfying to see the Devils get a little fiscal comeuppance for the way they pushed the sport to the brink of extinction, I don't want them to fail.

Insofar as the NHL still generates and will always generate much of its revenue on site--tickets, parking, concessions--and insofar as salaries and revenue-sharing payouts are functions of leaguewide revenue, it is necessary that the league does its business where money can reliably be made. Quebec City will make more money for everyone than Phoenix will, which currently costs each team owner about $2 million a year to run, just as Winnipeg has already proven more lucrative than Atlanta. Hockey will never be much more than what it is, and that's fine. You don't need us for NASCAR, we don't need you for this. We saw what happened with overextension in both.

It's not like the Devils suddenly had problems selling tickets. The year they opened the Prudential Center excluded....they've been struggling with attendance, even during the years they were contending for the Cup.

New York City metro can't support three teams....bottom line. Right now, two of the area's teams are averaging under 14,000 a game and under 80% capacity. The Islanders have been a joke of a franchise for 20 years, and now this. Maybe New York City metro can't even support two teams, even if those two teams are as tradition-rich or annual contenders for the playoffs as the Rangers and Devils are.

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6,738 announced at the Jobber tonight.

On Saturday, they're undercutting what should be a money night for a middling franchise by making it $1 hot dog, pop, and beer night. Begging people to come to the arena on a weekend by offering dollar beers. Even CHL teams don't have to resort to that.

Perhaps it'll all turn around on the 10th for John McCain Bobblehead Night, which sounds like something mean I made up, but of course it's real, because OTGDCoyotes.

They've actually done the $1 hotdog/soda/beer night two or three times a season the past couple seasons. It's good for people on a budget, like me especially with their next $1 night on Thanksgiving Eve vs the Ducks. Me personally I don't have a huge problem with it, and I've seen it done in baseball, but baseball is a different animal with promotions with the long season. However, I see your point.

But John McCain bobblehead night? I get that it's military night, but you don't need to bring down a nice gesture with that. Hell it hardly looks like McCain and if it did it's still him 20-30-40 years younger in a Coyotes jersey with a little American flag on it. Is McCain even going to be there? And I just looked at their promotion schedule, and they're having another Military Night in February, but this time they'er giving away an Alice Cooper bobblehead. Alice freaking Cooper on Military Night... Make sense of that. Also, while it's nice to offer the discount to the military, I can get those same tickets that they've marked down to $20 in the upper bowl for like $5 on Stubhub. Same with the $50 to like $25.

I've fought for you, Coyotes. I enjoy going to your games, and I enjoy having NHL hockey down the street. But damn, you're making this hard.

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http://weblogs.sun-sentinel.com/news/politics/broward/blog/2011/11/florida_panthers_asking_browar.html

The company that operates Broward County?s hockey arena in Sunrise and owns the Florida Panthers who play there wants a $7.7 million loan from the county to renovate the facility.

In a letter from the company that owns the Florida Panthers, Sunrise Sports and Entertainment, President Michael Yormark told the county mayor and commissioners that he?d seek the loan to pay for improvements to the center ice seating section and the executive suites.

"We need tax money to upgrade our luxury suites. I asked for white tigers!" Galling.

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Jeez, why don't you broker another sponsorship agreement, ya turd.

The county was supposed to receive profit-sharing, but that happened only once, officials said.

So many municipalities finding out about the shifty bookkeeping of sports the hard way. Of course the Panthers don't make any money, as far as you need to know. Neither do the Marlins.

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http://weblogs.sun-sentinel.com/news/politics/broward/blog/2011/11/florida_panthers_asking_browar.html

The company that operates Broward County?s hockey arena in Sunrise and owns the Florida Panthers who play there wants a $7.7 million loan from the county to renovate the facility.

In a letter from the company that owns the Florida Panthers, Sunrise Sports and Entertainment, President Michael Yormark told the county mayor and commissioners that he?d seek the loan to pay for improvements to the center ice seating section and the executive suites.

"We need tax money to upgrade our luxury suites. I asked for white tigers!" Galling.

Yet, just up the road in Tampa, the Lightning owner spent $35 mil of HIS OWN MONEY to renovate the Forum. I've seen it in person, looks brand new.

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@SportsMoneyBlog Mike Ozanian <BR itxtNodeId="116">Sale of St Louis Blues to Hulsizer for a reported $18o mil or so falling apart.

Blessing in disguise for my Bluenote brethren.

I'm starting to get the feeling that if you put Matthew Hulsizer's and Ice Edge Holdings' capital together, you might be able to buy the Dayton Gems.

Dollar Beer/Hot Dog/Pop/Probably Tickets Outside The Arena Saturday at the Jobber drew 13,381. I find it telling that I can't distinguish whether that's good or bad.

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@SportsMoneyBlog Mike Ozanian <BR itxtNodeId="116">Sale of St Louis Blues to Hulsizer for a reported $18o mil or so falling apart.

Blessing in disguise for my Bluenote brethren.

I'm starting to get the feeling that if you put Matthew Hulsizer's and Ice Edge Holdings' capital together, you might be able to buy the Dayton Gems.

Dollar Beer/Hot Dog/Pop/Probably Tickets Outside The Arena Saturday at the Jobber drew 13,381. I find it telling that I can't distinguish whether that's good or bad.

Other than the home opener, that's probably a season-high for them, right? Then again, their season high is barely above Columbus' average of 13,000, which is 27th in the league. So it's good for Phoenix's below-sea-level expectations, but still bad.

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http://weblogs.sun-sentinel.com/news/politics/broward/blog/2011/11/florida_panthers_asking_browar.html

The company that operates Broward County?s hockey arena in Sunrise and owns the Florida Panthers who play there wants a $7.7 million loan from the county to renovate the facility.

In a letter from the company that owns the Florida Panthers, Sunrise Sports and Entertainment, President Michael Yormark told the county mayor and commissioners that he?d seek the loan to pay for improvements to the center ice seating section and the executive suites.

"We need tax money to upgrade our luxury suites. I asked for white tigers!" Galling.

Yet, just up the road in Tampa, the Lightning owner spent $35 mil of HIS OWN MONEY to renovate the Forum. I've seen it in person, looks brand new.

Unless I didn't notice it last year, I really liked that area where the organist sits and the light display over the 'organ pipes'. And those contraptions that shoot lightning bolts is kick-ass, too.

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