Feb 21, 2012, 12:25 PM EST
The New York Post is reporting that New Jersey Devils owner Jeffery Vanderbeek is close to reaching a deal with a “deep-pocketed investor” that would buy him more time to raise capital and keep the team.
The investor will reportedly pay down $80 million in overdue debt, but there’s a catch – if Vanderbeek can’t raise the capital by the fall, he’ll have to sell the team.
It’s not clear how this might affect Zach Parise’s contract talks.
On the one hand, there’s the chance that adding more player salary to a business that’s reportedly losing money could negatively affect Vanderbeek’s ability to raise capital. Then again, losing Parise might be seen as a detriment to the business.
The Post reports that Vanderbeek is “pretty far along” in his quest to raise additional equity, so you never know, this whole thing might be solved before July 1 when Parise is set to become an unrestricted free agent.
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