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Around SBN: Events Cause Mariners To Lose To Rangers

Tom Gulitti has the word from the other side of today's team ownership news: Mike Gilfillan of Brick City. Gilfillan thinks he can cause a sale. This has the potential of getting messy before it gets any clearer.

That said, I hope Devils fans have learned to look before leaping to conclusions given how fast Bloomberg's initial reports got misconstrued. Talk about it in the comments if you so desire.

over 1 year ago Stanley_cup_and_you_-_sbn_tiny John Fischer 7 comments 0 recs  | 

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I guess everything depends on the contract between Vanderbeek and Brick City. I don’t how you make someone else sell their majority shares of a $200+ million team (or for that matter, agree in a contract to have that clause in there).

Brick City wants out – fine- their goal was to revitalize the city. I guess to them, there goal is set (I disagree..I went to the team store and walked around during the summer, it’s getting better but it takes years. But that’s my opinion). I guess JVB feels differently and wants to be committed long term (good).

I would love to know the dispute they had a few years back where the NHL had to get involved and put a band-aid on it (turns out it’s a band-aid over a gunshot wound), and if this has anything to do with.

In Lou We Trust: SBN Blog of the New Jersey Devils
"Hockey is the only job I know where you get paid to have a nap on the day of the game." - Chico Resch

by Matthew Ventolo on Feb 2, 2011 12:12 AM EST reply actions  

their goal was to rob the city and state of money and put it in their own pockets, which they will surely be doing.

in all, hard to get worked up about this. it sounds like brick city is going to sell and wants an idea of the price of the entire franchise + the arena. i don’t think this changes the day to day operations.

by Triumph44 on Feb 2, 2011 1:16 PM EST up reply actions  

I guess everything depends on the contract between Vanderbeek and Brick City.

Is it time to start an “In Lou We Trust” law school scholarship? We could sponsor a young student who wants to learn the ins and outs of arbitration, contract law, et cetera…. and then have our own certifiably educated “expert” to parse all this for us. After the Kovalchuk saga last summer and now this…. perhaps it might come in handy.

by acasser on Feb 2, 2011 9:05 PM EST up reply actions  

I think it is posturing by Brick City. They probably leaked the news to Bloomberg to help get the word out to prospective buyers. The phrase that jumps out to me in the release is:

subject to certain terms and conditions

This is so vague and could mean anything.

The only way I see a ‘forced’ sale is if someone came in and offered a huge amount more than the team was worth. There might be a clause that forces VBK to sell his shares, but even if that was the case it would have to be a huge amount.

If that happens, fine. That would mean someone was buying the team who had a boatload of cash to throw around and obviously believes in the franchise and the arena.

In Lou We Trust: SBN Blog of the New Jersey Devils

by Tom Stivali on Feb 2, 2011 11:23 AM EST reply actions  

I am hard-pressed to envision a scenario where a minority owner can force the majority/controlling partner to sell his own shares.

Unless Gilfillan has photos of VDB performing lewd and lascivious acts with Jimmy Dolan, I don’t see VDB selling the team.

So this is what it's like to be an Islanders fan...

FIre John MacLean

by Marty 4 Prez on Feb 3, 2011 4:53 PM EST up reply actions  

Why would Vanderbeek sign a contract that allows minority owners to convince owners to do that? Brick City needs to mind their business. Literally.

I’ve studied sports marketing, economics, management, and I just can’t figure out why Brick City cares this much. There must be some major financial incentive for them to get Vanderbeek to sell the whole franchise.

DownGoesAvery. Check out my sarcastic/comedic blog: Down Goes Avery and on Twitter (@DownGoesAvery ).

by DownGoesAvery on Feb 4, 2011 4:55 PM EST reply actions  

I know. Why would JVB agree to these terms? This quote scares me:

Brick City has exercised its contractual rights under its partnership agreement with Jeff Vanderbeek to cause a sale of the entire team and arena rights, subject to certain terms and conditions,

I want to know the terms and conditions (is it attendance, profit, or revenue the teams gains?) that cause the sale of the whole team.

In Lou We Trust: SBN Blog of the New Jersey Devils
"Hockey is the only job I know where you get paid to have a nap on the day of the game." - Chico Resch

by Matthew Ventolo on Feb 4, 2011 5:39 PM EST up reply actions  

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