Skip to content

Report: Devils may be sold to attorney Andrew Barroway

Jun 28, 2013, 12:50 PM EDT

Montreal Canadiens v New Jersey Devils Getty Images

The talk about the financial distress the New Jersey Devils may or may not be in has been discussed a lot lately. There’s a chance that could all be coming to an end soon, however.

Mike Ozanian of Forbes.com reports the Devils may be sold to attorney Andrew Barroway. He reports the NHLPA is telling its members that Barroway has loaned $30 million to the Devils to help pay down their debt and that a group led by Barroway may be purchasing the team.

Forbes’ report quotes a memorandum that went out to the Players’ Association on June 27, 2013 that says the team has run into “serious cash flow issues” that have resulted in missed payments that were resolved by the league. That much we’d heard about previously. Their comment on Barraway makes for new information.

“Recently, the Club was able to arrange a significant infusion of debt capital ($30 million) from an investor that is interested in purchasing the the Club from [Jeff] Vanderbeek. We understand from League officials that the new investor, Andrew Barraway [sic], is currently negotiating with Vanderbeek and thier [sic] expectation is that either Barroway or another ownership group will end up owning the team within the next 120 days or so.”

PHT reached out to the NHLPA for comment, but they declined to speak about it.

The Devils having a new owner within the next four months would help make for an even busier time for the NHL as they’re on the verge of a resolution regarding the Phoenix Coyotes’ ownerless situation.

Barroway was once part of a group that tried to purchase the Philadelphia 76ers. As for the current owner of the Devils, Tom Gulitti of Fire & Ice adds that Vanderbeek will maintain a minority share of the team.

Latest Posts
  1. Canucks pick up Bartkowski

    Jul 1, 2015, 1:29 PM EDT

    Buffalo Sabres v Boston Bruins Getty Images

    27-year-old never really panned out in Boston.

  2. Coyotes stay busy, ink Downie, Michalek and Lindback

    Jul 1, 2015, 1:22 PM EDT

    Steve Downie Getty Images

    Having already signed former Canuck Brad Richardson.

  3. Avs sign ‘versatile, dependable’ Comeau to three-year, $7.2M deal

    Jul 1, 2015, 1:11 PM EDT

    Toronto Maple Leafs v Pittsburgh Penguins Getty Images

    Nice raise after playing for $700,000 in Pittsburgh last season.

  4. Blockbuster: Kessel traded to the Penguins

    Jul 1, 2015, 1:08 PM EDT

    Phil Kessel Getty Images

    End of an era in Toronto. A premier goal-scoring winger heads to Pittsburgh.

  5. PHT’s 2015 free agent frenzy tracker

    Jul 1, 2015, 1:08 PM EDT

    Mike Green Getty Images

    All the signings from what promises to be a busy day.

  6. Blues re-sign Lehtera: three years, $14.1 million

    Jul 1, 2015, 1:07 PM EDT

    Jori Lehtera Getty Images

    Finnish forward coming off a strong first season in St. Louis.

  7. Heading West: Paul Martin signs four-year deal in San Jose

    Jul 1, 2015, 12:48 PM EDT

    Paul Martin Getty Images

    One of the prized UFA d-men, off the market.

  8. Avalanche sign veteran d-man Beauchemin for three years

    Jul 1, 2015, 12:25 PM EDT

    Anaheim Ducks v Dallas Stars Getty Images

    Will be expected to provide a steadying presence on Colorado’s blue line.

  9. Leafs sign d-man Hunwick: two years, $2.4 million

    Jul 1, 2015, 12:23 PM EDT

    Tampa Bay Lightning v New York Rangers - Game Seven Getty Images

    Former Ranger gets a nice deal on the opening day of free agency.

  10. Jets re-sign Pardy: one year, $1 million

    Jul 1, 2015, 12:18 PM EDT

    Adam Pardy Getty Images

    Big d-man sticks for one more year in the ‘Peg.

  11. Wild lock in Granlund — two years, $6M — and confirm Reilly signing

    Jul 1, 2015, 12:12 PM EDT

    Mikael Granlund Getty Images

    Chuck Fletcher takes care of business early on July 1.

  12. Canucks re-sign Weber for one year

    Jul 1, 2015, 12:11 PM EDT

    EDMONTON, AB - JANUARY 21: Yannick Weber #6 of the Vancouver Canucks skates against the Edmonton Oilers during an NHL game at Rexall Place on January 21, 2014 in Edmonton, Alberta, Canada. (Photo by Derek Leung/Getty Images) Getty Images

    Led all Vancouver d-men with 11 goals.

  13. Neely was ‘surprised’ that Hamilton didn’t want to sign with Bruins

    Jul 1, 2015, 11:51 AM EDT

    Cam Neely AP

    “I really didn’t get any indications of anything negative in exit meetings.”

  14. Crowded crease: Flames bring back Ramo on one-year, $3.8M deal

    Jul 1, 2015, 11:01 AM EDT

    Dallas Stars v Calgary Flames Dallas Stars v Calgary Flames

    Once again it’s him, Jonas Hiller and Joni Ortio in goal.

  15. Ribeiro re-signs with Preds — two years, $7 million

    Jul 1, 2015, 11:00 AM EDT

    Winnipeg Jets vs Nashville Predators AP

    The 35-year-old cashes in on a productive “last chance” season.

Top 10 NHL Player Searches
  1. D. Hamilton (2332)
  2. M. Richards (2291)
  3. C. Talbot (2046)
  4. R. O'Reilly (1916)
  5. S. Gagner (1888)
  1. A. Niemi (1748)
  2. E. Etem (1712)
  3. R. Lehner (1670)
  4. M. Lucic (1582)
  5. C. Pronger (1465)