Mr Atoz*
Guest
They haven't declared bankruptcy. All major corporations have bankruptcy protection. This article is coming from this business writer who was told the Devils missed their Sep 1 loan payment and is now excited to write a story. The payment is less than two weeks late. If the Devils make the payment today or in the next few weeks, this article becomes useless. They haven't defaulted on the loan and it's not even in collections. If they are three months behind, then we have a problem.
All major corporations have bankruptcy protection? Really? Do they go down to the corner drugstore and buy bankruptcy protection? [mod: deleted]
"If the devils make the payment in the next few weeks the article is useless."
Only if they never have to make another payment.
"If they are three months behind, then we have a problem."
This isn't a car loan.
It's an anonymous source. Do you think the New York Times or Washington Post could get away in today's day and age with reporting on things like this from an "anonymous source?" This is the New York Post we're talking about... the paper that has had "Holy Shiite" "Osama Bin ****in" and many other gems as headlines. When this pops up in the Times or the Wall Street Journal, let's talk about it.
The New York Times and Washington Post live off of anonymous sources. [mod: deleted]
Take a look at this annual article by Forbes:
http://www.forbes.com/lists/2010/31/hockey-valuations-10_land.html
Look at the debt ratio. No one is close to the devils. Not even the teams at the bottom of the league.
If the devils had the same hockey record as the islanders they'd be gone by now. Even with winning they can't sell out. When the devils went to the finals they barely sold out.
This financial trouble has been brewing for a long time. The new arena in Newark was insane. If the devils didn't make that deal at the top of the real estate bubble it never would have happened.
The devils are not a public company so their filing for Chapter 11 bankruptcy is not necessarily public information. They could have done it already for all we know. I don't know if the NHL bylaws demand that they tell the league. My guess is that's the only way we'd find out it happened.
Last edited by a moderator: