“Despite being unable to pay lenders $100 million that was due September 1, the NHL’s New Jersey Devils do not have to worry about being forced into bankruptcy by creditors for at least nine months because a consent letter stipulates lenders cannot take action against the Devils until after the last game of this season’s Stanley Cup playoffs, which should be around mid-June.”
Jeff Vanderbeek and Brick City LLC currently co-own the Devils with each claiming 47% in the NHL franchise. Brick City LLC has been looking to sell off their interest since February—an interest that Vanderbeek now plans on purchasing in order to refinance the team. Where it could get interesting is the value of the team vs. the amount of the debt. Forbes valued the Devils at $218 million last December—a value that includes money made from non-NHL events. Unfortunately for Vanderbeek, those projections for the coming year can be expected to decrease as forty-one New Jersey Nets home games would vanish if a potential NBA lockout wipes out the 2011-12 season. Even if the teams can salvage part of the season, revenue will be lost with each and every game missed. Mix in the fact that the outstanding debts stand at $250 million and refinancing the team might not be as easy as it sounds.
For the moment, we can give both sides the benefit of the doubt. Yes, the New York Post was correct when they said the Devils could face bankruptcy proceedings for failing to pay on September 1. On the other hand, the Devils don’t believe their facing bankruptcy because they have until June to hammer out the Brick City buyout and refinance the team. Either way, we’re splitting hairs.
No matter how you slice it, it would help everyone involved if the Devils could get off to a good start. They’ve already sold more tickets than they had at this time last season—so there’s potential to start bringing fans into the building. In a gate-driven league, there’s no substitute for sellout crowds packing the arena, paying for parking, buying beer, and picking up merchandise at The Rock.
Let’s be honest: nothing brings in fans and revenue quite like winning.
Raanta rewards Rangers for starts over Lundqvist by blanking Blackhawks
If someone told you that the New York Rangers started a goalie on back-to-back nights, and that goalie wasn’t Henrik Lundqvist, you’d probably wonder if he was hurt or retired.
Nope. It just so happens that Antti Raanta is playing at an incredibly high level, Alain Vigneault noticed, and that decision paid dividends on Friday night. Raanta won both nights of a back-to-back, allowing a single goal (with the Rangers protecting him, being that he only needed to stop 43 of 44 shots during that span).
Raanta and the Rangers blanked the Chicago Blackhawks with a 1-0 overtime win, at least briefly climbing to first place in the massively competitive Metro Division:
1. Rangers – 39 points in 29 games played
2. Penguins- 37 points in 27 GP
3. Blue Jackets – 36 points in 25 GP
4. Capitals – 35 points in 26 GP
5. Flyers – 35 points in 29 GP
Nick Holden ended up scoring the only goal of the game:
Meanwhile, the Blackhawks lost but at least salvaged a standings point and it seems like Patrick Kane is OK after this injury scare:
Raanta improved to 7-1-0 on the season, allowing two goals or less in all but one of his appearances so far this season. That’s the kind of work you’d expect to see if you’re going sit a guy who’s, you know, a living legend.
Blue Jackets remain in thick of things in Metro on tough night for Red Wings
As the Columbus Blue Jackets keep rolling, the Detroit Red Wings are probably just happy to get Friday behind them.
For the second straight game, the Blue Jackets beat their opponent 4-1.
They’re now on a five-game winning streak, and like the climbing St. Louis Blues, things look great if you go back a little further. They’re 10-1-2 in their last 13 games and 13-2-3 since November began.
The New Jersey Devils have been incredibly difficult to beat at home. Lately, the St. Louis Blues have been on a roll just about anywhere.
On Friday night, the Blues were the hotter team, handing the Devils their first home loss in regulation in 2016-17. And it wasn’t particularly close, with St. Louis winning 4-1.
It’s a convenient time to note that the Blues rank among the hottest teams in the NHL. Most recently, they’re 5-1-1 in their last seven games, but they’ve been especially impressive since they flirted with .500 at 7-6-3. Beginning with a 4-1 win against the Buffalo Sabres on Nov. 15, the Blues are on a 8-2-1 tear.
This leaves them second in the Central with a 16-8-4 record.
That’s impressive stuff.
This 4-1 win was quite the showcase for Robby Fabbri and Vladimir Tarasenko, in particular. Tarasenko collected three assists while Fabbri scored two goals on Friday night. His second goal was particularly slick:
The Blues are right in saying that this was a pretty fitting opportunity to drop a “Holy Jumpin.”
Minnesota Wild goalie Devan Dubnyk has been the most difficult goalies to score against this season. Leave it to a high-level player like Leon Draisaitl to make it look this, well, “easy.”
Draisaitl scored his 13th goal of 2016-17 by capping this pretty give-and-go play with Benoit Pouliot. You can see the frustration from Dubnyk at the end of the tally, as if he was saying “How was I supposed to stop that?” (though probably with more colorful language).
Draisaitl came into Friday with five goals and three assists in his last five games, so he’s been almost unstoppable lately.