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. ‘Hawks farmhand Skinner signs in Czech league

    Sep 2, 2014, 10:23 AM EDT

    Anaheim Ducks 2007 Headshots Getty Images

    Veteran AHLer had previously spent time with the Canucks, Avalanche and Islanders organizations.

  2. Red Wings GM preaches patience after slow summer

    Sep 2, 2014, 9:15 AM EDT

    Ken Holland AP

    “I think it’s a great time for the Detroit Red Wings.”

  3. PHT Morning Skate: Nerds vs. dinosaurs

    Sep 2, 2014, 8:00 AM EDT

    Dragon Con AP

    Tuesday’s collection of links.

  4. Oilers GM doesn’t anticipate a trade before training camp

    Sep 1, 2014, 9:01 PM EDT

    2014 NHL Draft - Round 1 Getty Images

    Edmonton wants to assess Leon Draisaitl, it seems.

  5. Challenging early schedule looms for Sharks

    Sep 1, 2014, 7:33 PM EDT

    Antti Niemi, Marc-Edouard Vlasic AP

    Sixteen of their first 21 games are on the road.

  6. Workhorse goalies, forwards from last season

    Sep 1, 2014, 6:05 PM EDT

    2014 NHL Stanley Cup Final - Game Five Getty Images

    Part two of today’s Labor Day posts.

  7. NHL’s hardest working defensemen in 2013-14

    Sep 1, 2014, 4:22 PM EDT

    Minnesota Wild v Chicago Blackhawks - Game Five Getty Images

    Part one of two Labor Day “theme” posts.

  8. Johnston believes Pouliot’s ready for NHL

    Sep 1, 2014, 2:55 PM EDT

    Derrick Pouliot Getty Images

    The new Penguins bench boss previously coached the young defenseman.

  9. Hitchcock: Cole has opportunity to be top-six defenseman

    Sep 1, 2014, 1:30 PM EDT

    Ian Cole Getty Images

    The 25-year-old has been fighting for playing time since he broke into the NHL.

  10. Yeo to split Wild’s first three preseason games among three goalies

    Sep 1, 2014, 12:10 PM EDT

    Josh Harding, Niklas Backstrom Josh Harding, Niklas Backstrom

    He might pick an opening game starter after that, but the battle for the top spot is likely to extend into the season.

  11. Five interesting players still on UFA market

    Sep 1, 2014, 10:46 AM EDT

    Ilya Bryzgalov Getty Images

    Will they have contracts by the start of the season?

  12. Boudreau thinks Heatley’s a better fit with Perry/Getzlaf than Penner

    Sep 1, 2014, 9:25 AM EDT

    Edmonton Oilers v Minnesota Wild Getty Images

    Last season’s experiment ended with Penner being traded.

  13. Trotz will still cheer for Preds ‘like crazy’

    Aug 31, 2014, 11:01 PM EDT

    Barry Trotz AP

    He continued to follow their summer moves after he was fired.

  14. Lombardi brings Stanley Cup to Snoopy

    Aug 31, 2014, 9:44 PM EDT

    Dean Lombardi AP

    The late creator of Peanuts was a big hockey fan.

  15. Columnist: Schultz deal might complicate Avs’ talks with RFA Barrie

    Aug 31, 2014, 8:26 PM EDT

    Tyson Barrie Getty Images

    The Colorado defenseman is still a restricted free agent.

  16. Scioscia wants MLB to adopt NHL-inspired roster expansion rules

    Aug 31, 2014, 7:03 PM EDT

    Mike Scioscia AP

    “I think that would make it a little more equitable for match-ups.”

Top 10 NHL Player Searches
  1. D. Alfredsson (2089)
  2. B. Bishop (2031)
  3. M. Fleury (1846)
  4. J. Schultz (1618)
  5. D. Krejci (1588)
  1. J. Boychuk (1563)
  2. C. Anderson (1501)
  3. E. Staal (1494)
  4. R. Lehner (1389)
  5. D. Setoguchi (1288)