Blog Entry

Report: Wendy's owner looking into buying Devils

Posted on: November 22, 2011 10:24 am
Edited on: November 22, 2011 10:27 am
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By Brian Stubits

The Dallas Stars just had all of their debt bought out and the team take over by Vancouver businessman Tom Gaglardi. Could the New Jersey Devils be the next franchise to be saved from a knight in expensive armor?

The financial situation of the Devils has been well chronicaled of late. Majority owner Jff Vanderbeek has himself a mountain of money that he owes and co-owner Tom Chamgers wants out of his 47 percent stake of the team. Vanderbeek has been working on restructuring the loans and if he can get $80 million from a television rights deal, it could clear the way for Vanderbeek to keep the team.

If not, there is a pretty good backup plan ready to catch the team if they should fall. According to the New York Post, local bilionaire Nelson Peltz -- the owner of Wendy's -- would love to buy the team out of debt and take over the show. From the Post:

Billionaire investor and hockey enthusiast Nelson Peltz is weighing a plan to buy the $250 million in debt of the troubled New Jersey Devils, a source close to the situation told The Post.

The plan being discussed by Peltz, whose Triarc Companies owns Wendy’s, includes lining up an equity investor to buy the money-losing NHL team should the current team owners fail in their talks with lenders to restructure the debt, according to one person who has spoken with Peltz about the plan in recent weeks.

Peltz, who was said to be interested in buying the New York Islanders last December, is seeking a partner to provide perhaps $50 million in equity in a purchase of the team in a prepackaged bankruptcy.

The report goes on to say that while the NHL is not working with Peltz in this situation, he has already been given approval by the NHL. Of course, that's all dependent on what Vanderbeek does. If he is able to restructure the loans and satisfy the investors, then Peltz will be left out.

Talk about a hockey enthusiast. Peltz's son was drafted by the Senators in 2009. What's more, Peltz actually has an enclosed ice rink in his estate -- zamboni included, of course . I'd have to imagine a lot of Devils fans would be hoping for a purchase by Peltz in this case, I know I would be.

H/t to Kukla's Korner

For more hockey news, rumors and analysis, follow @EyeOnHockey and @BrianStubitsNHL on Twitter.

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Comments

Since: Jun 8, 2011
Posted on: November 25, 2011 9:42 am
 

Report: Wendy's owner looking into buying Devils

Correct jbdodd. If Nelson Peltz is to buy the Devils, ticket prices will not increase one penny. Nelson's businessmodel has proven true for years which is to do install brand recognition with a large consumer market before making any adjustments to prices. 




Since: Dec 10, 2006
Posted on: November 23, 2011 3:41 pm
 

Report: Wendy's owner looking into buying Devils

Newark is a perfect place, because you can take the train there. Anyone who's ACTUALLY from Jersey knows how stupid a move to somerset would be. Traffic is bad enough in that area, especially when rutgers plays. And another thing. When the Devils are winning, they sell out. last year they dropped back so far attendance slipped. I say a new owner that's passionate about hockey is exactly what we need.



Since: Dec 27, 2007
Posted on: November 23, 2011 2:32 pm
 

Report: Wendy's owner looking into buying Devils

It won't matter who buys the Devils. It's simply they are in a bad location. Why is a hockey team located in Newark? Besides the fact, it's the stolen car capital of the US, it also is a largely African-American city. How many African-Americans follow hockey?  The move there was purely at the behest of Vanderbeek who was heavily invested in Newark. It wasn't about what was best for the team, but HIS own interests. Now they're stuck in a nice arena in an area which ignores hockey like Obama ignores the economy.

So someone new comes in. So what? No one shows up even when they win. They only draw when the Rangers and Flyers come to town and they do because fans of those teams flock there. They're in a lose-lose situation in Newark.

If they want to truly save their franchise move it to Somerset county. That area is becoming a hotbed of hockey and is more centralized between NY and Philly. There they'd have a chance to really set up roots and grow their franchise. I mean this organization has won 3 Cups and has been in 4 Stanley Cup finals in the last 16 years. On the ice they've been a huge success. Off of it, they've been a failure in terms of fan attendance and commercial success.



Since: Jan 1, 2007
Posted on: November 23, 2011 10:49 am
 

Report: Wendy's owner looking into buying Devils

Really, someone is bitching about whether their burger is square or round on a hockey article? Are you OCD... in a looney bin? Don't eat it if you don't like it.



Since: Oct 11, 2011
Posted on: November 22, 2011 11:06 pm
 

Report: Wendy's owner looking into buying Devils

I agree.  What a loser.  Some people just suck. 



Since: Oct 25, 2007
Posted on: November 22, 2011 9:03 pm
 

Report: Wendy's owner looking into buying Devils

just as long as they dont hire cheerleaders who look like wendy thomas.  have you seen her in those commercials???  eating away the profits...


Of all the things you could have done with your day, you chose to post online and make fun of another person's looks?!? How proud you must be! What will it be tomorrow? Kick a dog? Steal from a kid?



Since: Jul 9, 2009
Posted on: November 22, 2011 8:44 pm
 

Report: Wendy's owner looking into buying Devils

I was hoping Marc Cuban would buy the Devils;
A lot of people seem to want Cuban to buy their teams.  I've seen more than one poster yearn for him to buy the Dodgers (others, the Mets). 

Shall I make a bad joke?  Since he's Cuban, why doesn't he buy Havana from Fidel Castro?  (Stop those groans.  I warned you it was bad.)



Since: Oct 23, 2011
Posted on: November 22, 2011 8:21 pm
 

Report: Wendy's owner looking into buying Devils

 AES are you kidding me! Those fries were terrible before, now they are delicious like fair fries. But anyway the story here is the hockey not square vs round burgers. The sickening part to this story for mt is that the Columbus Blue Jackets almost folded this offseason and Wendys INT is located and founded in Columbus Ohio! Now this jerk is buying the Devils. Pure Garbagetruckjuice.




Since: Dec 13, 2009
Posted on: November 22, 2011 7:28 pm
 

Report: Wendy's owner looking into buying Devils

you would think the new york post would do a better job of reporting 



Since: Dec 13, 2009
Posted on: November 22, 2011 7:17 pm
 

Report: Wendy's owner looking into buying Devils

That guy does not "own"wendy's, it is a pubplicaly traded company.  His fund owns a big chunk of it along with pieces of other companies like pepsi, kraft, and strangely enough,CBS.  I think his firm owns about 20% of wendys, which is still alot


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com