New York Islanders v New Jersey Devils

Report: Devils to lose money in 2014-15

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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

‘There’s still lots of room for growth’: Stars GM preaches patience with Nichushkin

Valeri Nichushkin
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Valeri Nichushkin has the tools — listed at six-foot-four-inches tall and 205 pounds with devastating speed. He has the skill.

However, now at the end of his entry-level contract, the 10th overall draft pick for the Dallas Stars in 2013 has endured the highs and lows associated with a young player trying to make his mark in the National Hockey League after a promising rookie campaign.

For starters, his sophomore 2014-15 season was essentially wiped out — he played only eight games for the Stars — by a hip injury that required surgery. He also didn’t get off to the greatest start this season, and coming back from surgery likely played a factor as to why, as he found his way into Lindy Ruff’s doghouse early on.

As a result, was made a healthy scratch.

His bottom line offensive numbers included nine goals and 29 points in 79 games played, and one assist in 10 playoff games for the Stars, as they were eliminated in the second round.

Still, he’s just 21 years old. When playing with top players like Tyler Seguin and Jamie Benn, he was able to get on a bit of a roll offensively.

Stars GM Jim Nill, speaking on SiriusXMNHL, referenced the difficulty for a young player coming back off surgery, but remains confident in Nichushkin.

“We’re happy with Val,” he said (at around the 5:30 mark).

“Came back this year, got off to a slow start because of that. We thought the last five games of the playoffs, he really started to look like himself. He started to dominate down low and in the corners.

“He is only 21. I know there’s still lots of room for growth, so we’re going to be patient with him. We think he’s a big part of our future.”

 

Coyotes hire new COO

GLENDALE, AZ - OCTOBER 09:  Fans line up outside of Gila River Arena before the NHL game between the Arizona Coyotes and the Winnipeg Jets on October 9, 2014 in Glendale, Arizona.  The Jets defeated the Coyotes 6-2.  (Photo by Christian Petersen/Getty Images)
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GLENDALE, Ariz. (AP) The Arizona Coyotes have hired Anaheim Ducks executive Ari Segal as chief operating officer.

The move was announced by the team on Wednesday.

Segal previously served as a special assistant to Anaheim CEO Michael Schulman and as president of business operations for the Ducks’ AHL affiliate in San Diego.

Segal helped with preparations for the new AHL club and recently worked with the NHL in the league’s broadcast media strategy group, evaluating league and team broadcast rights and distribution deals.

Segal previously worked as an associate in the sports practice at McKinsey & Company, a New York-based management consulting firm.

Related: The Coyotes are going in a ‘new direction,’ and that’s an understatement

Jackets re-sign Sedlak, AHL affiliate’s leading playoff scorer

COLUMBUS, OH - SEPTEMBER 20:  Lukas Sedlak #85 of the Columbus Blue Jackets waits for the pass during the game against the Winnipeg Jets on September 20, 2011 at Nationwide Arena in Columbus Ohio.  The Blue Jackets defeated the Jets 5-1.  (Photo by John Grieshop/Getty Images)
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Columbus farmhand Lukas Sedlak, who currently sits tied atop AHL Lake Erie’s playoff scoring leaderboard, has signed a one-year, two-way deal, the Jackets announced on Wednesday.

Sedlak, 23, was a fifth-round pick in 2011 that’s spent the last three years in the American League. This season was by far his most successful — in addition to potting a career-best 14 goals, he’s become close to a point-a-game producer in the playoffs, with 11 through 12 games.

“Sedlak has been on a run for us with goal-scoring,” Lake Erie head coach Jared Bednar said, per the Columbus Dispatch. “He’s not a guy who does it for us every night. But he works so hard in all the other areas.”

Sedlak has yet to make his NHL debut, but could be in the mix for a recall next season.

Despite Canadian dollar, Bettman still expects ‘revenue increase’

NHL commissioner Gary Bettman answers a question during a news conference before the NHL All-Star hockey game skills competition, Saturday, Jan. 30, 2016, in Nashville, Tenn. (AP Photo/Mark Humphrey)
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The Canadian dollar is trading at around $0.77 USD today. While that’s up considerably from where it was a few months ago, the damage has already been done to NHL revenues.

“If the Canadian dollar was still at par, we would be $100 or 200 million higher perhaps than we may find ourselves,” NHL commissioner Gary Bettman told Bloomberg Television today.

Having said that, Bettman still expects there will be a “revenue increase” compared to last year, adding that “we continue to grow year after year and set new records.”

More from Bloomberg:

Bettman said that while the NHL’s revenue growth has come across the entire business, the league has seen its biggest boon in its digital platform. The league last year signed a six-year, $1.2 billion contract with Major League Baseball’s interactive media and Internet arm, or BAM, to operate the its digital operations, streaming services and TV network. The NHL got a 10 percent stake as part the deal.

The NHL playoffs are currently in the middle of the conference finals. The NHL’s fiscal year ends June 30.

League revenues, of course, have a direct impact on the salary cap, and let’s face it, that’s the only thing most fans care about.

As of March, the cap was expected to grow from $71.4 million in 2015-16 to $74 million next season.

However, that projection assumed the NHLPA would accept the CBA’s standard five percent growth factor, and with escrow topping the list of player concerns, that’s no given.

The players’ association will discuss and make a decision on the growth factor at some point before July 1.

Related: Bowman noncommittal on Shaw and Bickell, needs to know salary cap first