Skip to content

Report: Devils may be sold to attorney Andrew Barroway

Jun 28, 2013, 12:50 PM EST

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. Report: Perron could be headed to Columbus

    Nov 26, 2014, 12:45 AM EST

    davidperrongetty Getty Images

    Jackets and Oilers talking trade.

  2. Video: Hanzal with an elbow to the head of Erik Johnson

    Nov 26, 2014, 12:05 AM EST

    Martin Hanzal Getty Images

    The Avs’ defenseman left the game and did not return.

  3. Video: Stars’ Garbutt hits Hall knee-on-knee

    Nov 25, 2014, 11:25 PM EST

    St. Louis Blues v Dallas Stars St. Louis Blues v Dallas Stars

    The Oilers’ forward has had his share of knee injuries.

  4. Video: Canucks honor Quinn with “O Danny Boy”

    Nov 25, 2014, 10:29 PM EST

    patquinn

    Spent time in Vancouver as a player and a coach.

  5. Video: Canucks’ Desjardins delivers the news to Horvat

    Nov 25, 2014, 8:00 PM EST

    Bo Horvat, Jason Demers, Pascal Pelletier AP

    The 19-year-old rookie will be sticking in the NHL this season.

  6. Video: Boll with a hit to the head on Postma

    Nov 25, 2014, 7:45 PM EST

    EDMONTON, CANADA - MARCH 14: Jared Boll #40 of the Columbus Blue Jackets watches warm-up before a game against the Columbus Blue Jackets at Rexall Place on March 14, 2012 in Edmonton, Alberta, Canada. (Photo by Andy Devlin/NHLI via Getty Images) Getty Images

    Chris Thorburn dropped the gloves with the Jackets tough guy.

  7. Report: Kings receiving interest in Nolan

    Nov 25, 2014, 7:15 PM EST

    Jordan Nolan AP

    He’s been a healthy scratch in three straight games.

  8. Torres aims to resume skating soon — without his right ACL

    Nov 25, 2014, 5:48 PM EST

    Raffi Torres Getty Images

    Sharks forward has undergone months of rehab on his surgically-repaired knee.

  9. The Kings aren’t just ‘going to go out and blow’ their Voynov cap space

    Nov 25, 2014, 5:04 PM EST

    2014 NHL Stanley Cup Final - Game Five Getty Images

    “Let’s get real. Finding top-four defensemen, they’re not available,” says GM Dean Lombardi.

  10. Trade: Canucks, Isles flip prospects

    Nov 25, 2014, 4:27 PM EST

    New York Islanders v New Jersey Devils Getty Images

    Alex Mallet for Andrey Pedan, specifically.

  11. McDavid thinks dropping the gloves ‘was the right thing to do’

    Nov 25, 2014, 3:31 PM EST

    Erie Otters v Niagara IceDogs Getty Images

    “I would rather fight than turtle or anything like that.”

Featured video

Eakins on his way out of Edmonton?

Sign up for Fantasy hockey

Top 10 NHL Player Searches
  1. P. Datsyuk (2464)
  2. V. Hedman (2353)
  3. P. Sharp (2311)
  4. S. Crosby (2196)
  5. B. Marchand (1911)
  1. D. Krejci (1903)
  2. Z. Chara (1842)
  3. B. Dubinsky (1716)
  4. S. Varlamov (1496)
  5. A. Tanguay (1477)