Jun 28, 2013, 12:50 PM EDT
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.
Aug 29, 2014, 11:00 PM EDT
Can he fit in well enough to embrace this opportunity?
Aug 29, 2014, 10:10 PM EDT
Should they make a move or play hardball with free agents?
Aug 29, 2014, 9:30 PM EDT
Jeff Skinner was also on the ice Friday.
Aug 29, 2014, 8:00 PM EDT
Can’t top No. 4.
Aug 29, 2014, 6:29 PM EDT
“I’m sleeping with it tonight.”
Aug 29, 2014, 4:57 PM EDT
The Chicago Blackhawks let him walk.
Aug 29, 2014, 3:30 PM EDT
Team has needs at center.
Aug 29, 2014, 3:00 PM EDT
Played 20 career games with Boston.
Aug 29, 2014, 2:15 PM EDT
Was schedule for Ontario Superior Court Sept. 8
Aug 29, 2014, 1:18 PM EDT
A pair of hilarious ads to promote the game.
Aug 29, 2014, 12:33 PM EDT
Heading into a contract year, lots on his shoulders.
Aug 29, 2014, 11:05 AM EDT
Scored 135 goals and 299 points in four seasons with the London Knights.
Aug 29, 2014, 10:45 AM EDT
Spent the past two seasons in Edmonton.
Aug 29, 2014, 10:02 AM EDT
Their cap situation and defensive logjam might lead them to make a trade.
Aug 29, 2014, 9:00 AM EDT
“It’s amazing how an accident like this puts things in perspective.”
Aug 29, 2014, 8:00 AM EDT
They won the Presidents’ Trophy, but fell in the second round.
Aug 28, 2014, 10:46 PM EDT
Will one be named this season?
Aug 28, 2014, 9:33 PM EDT
The new coach wants the Penguins to ‘lessen the load.’
Aug 28, 2014, 8:21 PM EDT
It wasn’t even close.
Aug 28, 2014, 7:11 PM EDT
They have a lot of players on their roster with something to prove.
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