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.
May 26, 2015, 9:30 AM EDT
Anaheim didn’t take long to rebound in overtime last night.
May 26, 2015, 1:13 AM EDT
Monday’s tough loss hasn’t weakened his resolve.
May 26, 2015, 12:21 AM EDT
Matt Beleskey scored the game winner after initially losing his second line spot.
May 26, 2015, 12:03 AM EDT
Chicago was trailing for most of the game.
May 25, 2015, 11:10 PM EDT
It was a reversal from the first frame.
May 25, 2015, 10:57 PM EDT
Maple Leafs prospect Frederik Gauthier had a big game too.
May 25, 2015, 10:11 PM EDT
The first period was all Anaheim.
May 25, 2015, 9:42 PM EDT
The Ducks got off to an ideal start.
May 25, 2015, 9:17 PM EDT
Emerson Etem is a healthy scratch.
May 25, 2015, 8:29 PM EDT
He needed to keep his wrist frozen to play.
May 25, 2015, 7:25 PM EDT
He was linked to Nashville’s playoff curfew incident.
May 25, 2015, 6:30 PM EDT
The series is tied at 2-2.
May 25, 2015, 5:43 PM EDT
There’s going to be a fight for the No. 1 gig in Detroit.
May 25, 2015, 4:41 PM EDT
Reports out of Swift Current, Saskatchewan.
May 25, 2015, 4:32 PM EDT
May 25, 2015, 3:58 PM EDT
They’re expected to speak again before July 1.
May 25, 2015, 3:31 PM EDT
“One bounce here or there, it’s a different story.”
May 25, 2015, 2:10 PM EDT
Made his NHL debut last season, appearing in 16 games.
May 25, 2015, 2:05 PM EDT
He’s eligible to sign an extension this summer.
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