glenwo2
LINDY RUFF NEEDS VIAGRA!!
Despite having new owners in Josh Harris and David Blitzer, the New Jersey Devils are scheduled to once again lose money in 2014-15.
According to the report from Tom Gulitti of The Record, Harris and Blitzer — who purchased the team from Jeff Vanderbeek a year ago for $320 million — are still fixing previous financial issues.
The Devils missed the playoffs for a second straight season in 2013-14 and according to Blitzer the team will not turn a profit in 2014-15 even if New Jersey qualifies for the postseason.
“We’re not going to make money this year. Let’s be clear,” said Blitzer. “I don’t know the exact numbers, but our view is to get it to the right place and we know over a longer period of time we do believe we can get it to be a profitable team on the business side or the equation. It is not today. I don’t expect it to be next year, but over time you can’t have a business that over 30 years it doesn’t become a profitable team because that just doesn’t work.”
According to the report, the team had debt issues and was “under invested in” on the business side.
http://prohockeytalk.nbcsports.com/2014/08/16/report-devils-to-lose-money-in-2014-15/
EDIT : I just now noticed that this was already mentioned in the Devils Discussion thread. My bad.
According to the report from Tom Gulitti of The Record, Harris and Blitzer — who purchased the team from Jeff Vanderbeek a year ago for $320 million — are still fixing previous financial issues.
The Devils missed the playoffs for a second straight season in 2013-14 and according to Blitzer the team will not turn a profit in 2014-15 even if New Jersey qualifies for the postseason.
“We’re not going to make money this year. Let’s be clear,” said Blitzer. “I don’t know the exact numbers, but our view is to get it to the right place and we know over a longer period of time we do believe we can get it to be a profitable team on the business side or the equation. It is not today. I don’t expect it to be next year, but over time you can’t have a business that over 30 years it doesn’t become a profitable team because that just doesn’t work.”
According to the report, the team had debt issues and was “under invested in” on the business side.
http://prohockeytalk.nbcsports.com/2014/08/16/report-devils-to-lose-money-in-2014-15/
EDIT : I just now noticed that this was already mentioned in the Devils Discussion thread. My bad.
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