Jun 28, 2013, 12:50 PM EST
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.
Jan 25, 2015, 4:58 PM EST
A grab bag of fun as the game rapidly approaches.
Jan 25, 2015, 4:30 PM EST
It’s the 2015 NHL All-Star Game from Nationwide Arena in Columbus, on NBCSN.
Jan 25, 2015, 3:33 PM EST
Team Foligno and Team Toews square off.
Jan 25, 2015, 3:20 PM EST
He’ll probably be OK.
Jan 25, 2015, 2:02 PM EST
The bubble seems limited, at least.
Jan 25, 2015, 12:48 PM EST
He has more control over his chances in the All-Star Game itself.
Jan 25, 2015, 11:54 AM EST
Maybe we should ease up on the guy.
Jan 25, 2015, 10:50 AM EST
A rare opportunity sidetracked by his groin injury.
Jan 25, 2015, 9:30 AM EST
It sounds like he won’t face the same headaches as others who skipped the event.
Jan 24, 2015, 10:03 PM EST
See you all tomorrow.
Jan 24, 2015, 9:41 PM EST
Florida’s All-Star goalie never gave up on it.
Jan 24, 2015, 9:14 PM EST
Just 0.3 away from Zdeno Chara’s all-time record.
Jan 24, 2015, 9:09 PM EST
Jan 24, 2015, 8:34 PM EST
Team Foligno running away with this.
Jan 24, 2015, 8:21 PM EST
That’s an all-time screencap right there.
Jan 24, 2015, 7:55 PM EST
Team Foligno sweeps first competition.
Jan 24, 2015, 7:09 PM EST
Johnny Hockey gets the nod.
Jan 24, 2015, 6:20 PM EST
Has gone from forward to defense, back to forward and back to defense.
Jan 24, 2015, 5:30 PM EST
He’s ranked fourth in Central Scouting’s mid-term rankings.
Jan 24, 2015, 5:23 PM EST
Bragging rights on the line.
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