Sep 12, 2011, 4:32 PM EST
Earlier today, The New York Post released an exclusive article that claimed the New Jersey Devils could be headed for bankruptcy after failing to pay back a loan on Sept. 1. The story illustrated what might be a significant issue for the franchise, especially since the Prudential Center could be prone to losses if the NBA’s lockout robs them of New Jersey Nets games.
The Devils’ brass didn’t respond to interview requests from the Post, but they did release a statement about the matter today. The team reiterated their statements that their ownership situation should be resolved. The plan is that co-owner Jeff Vanderbeek will buy out Brick City LLC (both parties currently own 47 percent of the shares) and then the franchise will be able to complete a refinancing process.
Here is the team’s statement that refutes the article, via Tom Gulitti of Fire & Ice.
“Today’s New York Post story is inaccurate. The notions that the Devils are facing bankruptcy or that “the Devils have told their banks to get lost” are patently untrue. The Devils value their relationship with their banks and are confident a refinancing will be completed shortly. As stated previously, ownership is close to finalizing an agreement that would lead to a buyout of Brick City’s share of the company. The organization is also pleased to report that new season ticket sales are up 130% over last year and last week’s on-sale for single game tickets were 260% above last year’s similar period. Finally, the start of training camp was incorrectly reported in the article as tomorrow. In fact, training camp starts on Friday for the rookies and Saturday for the veterans.”
Hopefully it’s true that the Devils aren’t in as dire a situation as the Post reports. The NHL has enough problems on its hands with teams such as the New York Islanders, Phoenix Coyotes and Columbus Blue Jackets struggling. The last thing it needs is to hear rumors fly around about a team that won three Stanley Cups since the mid-90s.
It might be a while before there are any other significant developments in this story, but we’ll keep an eye on the situation either way.
- Video: Zidlicky’s first goal with Detroit gives Red Wings OT win over Rangers 30
- Video: P.K. Subban illustrates hockey instincts through GoPro camera perspective 3
- Video: Lundqvist could be back in 10 to 14 days 7
- Isles’ Martin suspended one game for ‘reckless’ knee on Daley 12
- More bad luck for the B’s — Connolly out 6 weeks with fractured finger 24
- Fehr willing to give Panthers ‘a reasonable opportunity’ to redevelop market 51
- Video: Isles’ Martin to face hearing for ‘stupid’ knee-on-knee hit 39
- NHL on NBCSN: Reloaded Red Wings, Rangers set to battle tonight 51
- Bernier bests Panthers as Luongo goes from injured (and in street clothes) to back in net 4
- Phaneuf, Cuthbert and Lupul threaten lawsuit after tweet goes to air 59
- Wild beat Avs, dying seconds fight set stage for rematch (171)
- Petrovic: Chicago will ‘probably seek revenge’ for Kane injury tonight (82)
- Winners and losers of the 2015 trade deadline (78)
- Trade: Blackhawks acquire Vermette from Arizona for Dahlbeck, first rounder (74)
- Wings get Zidlicky from Devils (74)