New York Islanders v New Jersey Devils

Report: Devils to lose money in 2014-15


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.

Devils CEO Scott O’Neil points out the team was severely understaffed on the business side with just 76 employees when the new group took over. Since then, the staff has nearly doubled.

The team’s debt isn’t expected to factor into the Devils and GM Lou Lamoriello’s ability to spend money. As it stands, New Jersey sits with less than $5 million to play with.

Lamoriello compared the situation under previous ownership to that of the Phoenix Coyotes saying that he had to report to the league as a result of the team’s financial struggles.

“It was like Phoenix from a hockey standpoint. That was fact,” said Lamoriello. “You had to do things in a different way.”

Lamoriello pointed to the signing of unrestricted free agent Mike Cammalleri and contract extensions to Cory Schneider and Andy Greene as ways things have changed under the new group.

The GM said things are “status quo”  with unrestricted free agent Ryan Carter. According to Gulitti, Carter seems to be waiting for the Devils to move a forward before re-signing him.

When asked about restricted free agent Eric Gelinas, Lamoriello said, “We have a month to go. We want to get him signed.”

New Jersey finished the 2013-14 season with a 35-29-18 record and in 10th place in the Eastern Conference.

Related: Devils GM shakes off 0-13 shootout record, pumps up free agent moves

PHT Morning Skate: 10 years of Ovechkin; 10,000 days with Lamoriello

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PHT’s Morning Skate takes a look around the world of hockey to see what’s happening and what we’ll be talking about around the NHL world and beyond.

Looking back at 10 years of Alex Ovechkin with the Washington Capitals, in case the above video made you want more. (CSN Mid-Atlantic)

David Conte spent 10,000 days with Lou Lamoriello and lived to tell about it. (TSN)

Want to spot some contract year guys? Here are 32 pending restricted free agents. (Sportsnet)

NHL GMs are starting to sniff around with the 2015-16 season about to kick off. (Ottawa Sun)

Some backstory on Zack Kassian that was passed around on Twitter last evening. (Canucks website)

Hey, you can’t say Raffi Torres hasn’t literally paid for his ways:

This is some quality chirping between Jaromir Jagr and Matthew Barnaby:

Cocaine in the NHL: A concern, but not a crisis?

Montreal Canadiens v Minnesota Wild

Does the NHL have a cocaine problem?

TSN caught up with deputy commissioner Bill Daly, who provided some fascinating insight:

“The number of [cocaine] positives are more than they were in previous years and they’re going up,” Daly said. “I wouldn’t say it’s a crisis in any sense. What I’d say is drugs like cocaine are cyclical and you’ve hit a cycle where it’s an ‘in’ drug again.”


Daly said that he’d be surprised  “if we’re talking more than 20 guys” and then touched on something that may be a problem: they don’t test it in a “comprehensive way.”

As Katie Strang’s essential ESPN article about the Los Angeles Kings’ tough season explored in June, there are some challenges for testing for a drug like cocaine. That said, there are also some limitations that may raise some eyebrows.

For one, it metabolizes quickly. Michael McCabe, a Philadelphia-based toxicology expert who works for Robson Forensic, told that, generally speaking, cocaine filters out of the system in two to four days, making it relatively easy to avoid a flag in standard urine tests.

The NHL-NHLPA’s joint drug-testing program is not specifically designed to target recreational drugs such as cocaine or marijuana. The Performance Enhancing Substances Program is put into place to do exactly that — screen for performance-enhancing drugs.

So, are “party drugs” like cocaine and molly an issue for the NHL?

At the moment, the answer almost seems to be: “the league hopes not.”

Daly goes into plenty of detail on the issue, so read the full TSN article for more.