Feb 21, 2012, 12:25 PM EDT
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.
- DeBoer predicts ‘big bounce-back’ in San Jose 8
- Sabres name Bylsma head coach 35
- Lundqvist on Game 7: ‘You’re definitely nervous, but it comes down to teamwork’ 16
- Report: Bylsma to Sabres being held up by compensation issue 56
- Stanley Cup Final to begin June 3 7
- Caps’ Backstrom undergoes arthroscopic hip surgery 5
- Report: Sens’ Murray to retire after next season 0
- Of course: ‘Hawks, Ducks’ back-and-forth series is going to Game 7 49
- WATCH LIVE: Ducks at Blackhawks, Western Conference Final Game 6 1
- As Bolts deal with illness, extra day of rest could prove beneficial 11
- Kesler on wearing down Chicago: ‘No human can withstand that many hits’ (75)
- From healthy scratch to hero: Vermette scores OT winner for Blackhawks (66)
- Report: Bylsma to Sabres being held up by compensation issue (56)
- On Kreider, and trying ‘to turn the other cheek’ (54)
- Fetisov wants to restrict young Russians from playing in the NHL (53)